Flat Footed LLC Takes Position in Fiserv, Inc. $FISV

Flat Footed LLC bought a new stake in Fiserv, Inc. (NASDAQ:FISV) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 240,000 shares of the business services provider’s stock, valued at approximately $11,772,000,000. Fiserv comprises about 0.9% of Flat Footed LLC’s holdings, making the stock its 9th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FISV. Stanley Capital Management LLC purchased a new stake in Fiserv in the second quarter valued at $6,159,000. Redwood Grove Capital LLC purchased a new position in shares of Fiserv during the second quarter worth about $12,637,000. Canada Pension Plan Investment Board acquired a new stake in shares of Fiserv during the second quarter worth about $44,052,000. Castleark Management LLC acquired a new stake in shares of Fiserv during the second quarter worth about $98,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Fiserv in the 2nd quarter valued at about $32,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Down 1.0%

FISV opened at $52.44 on Wednesday. Fiserv, Inc. has a 52 week low of $47.04 and a 52 week high of $138.85. The business has a 50 day moving average price of $51.49 and a two-hundred day moving average price of $55.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a market cap of $27.89 billion, a PE ratio of 10.07, a P/E/G ratio of 3.98 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last announced its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). The company had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts anticipate that Fiserv, Inc. will post 7.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FISV shares. Cantor Fitzgerald restated a “neutral” rating and set a $53.00 price target (down from $62.00) on shares of Fiserv in a research note on Wednesday, July 22nd. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price objective (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Citigroup restated a “neutral” rating and set a $57.00 target price (down from $60.00) on shares of Fiserv in a research report on Friday, July 10th. Loop Capital cut their target price on shares of Fiserv from $63.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, May 15th. Finally, UBS Group set a $60.00 price target on shares of Fiserv and gave the company a “neutral” rating in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.20.

Insider Buying and Selling at Fiserv

In other news, Director Lance M. Fritz acquired 10,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was bought at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, the director owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul M. Todd bought 10,060 shares of Fiserv stock in a transaction dated Wednesday, June 17th. The stock was purchased at an average price of $49.70 per share, with a total value of $499,982.00. Following the purchase, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is owned by company insiders.

About Fiserv

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.