898,102 Shares in Fiserv, Inc. $FISV Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 898,102 shares of the business services provider’s stock, valued at approximately $44,052,000. Canada Pension Plan Investment Board owned about 0.17% of Fiserv as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its position in Fiserv by 91.9% during the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock worth $872,000 after acquiring an additional 2,033 shares during the last quarter. Bison Wealth LLC grew its position in shares of Fiserv by 5.3% in the fourth quarter. Bison Wealth LLC now owns 2,299 shares of the business services provider’s stock valued at $472,000 after purchasing an additional 116 shares during the last quarter. Schnieders Capital Management LLC. grew its position in shares of Fiserv by 21.0% in the second quarter. Schnieders Capital Management LLC. now owns 2,782 shares of the business services provider’s stock valued at $480,000 after purchasing an additional 483 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Fiserv during the 2nd quarter worth approximately $1,001,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of Fiserv by 7.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,200 shares of the business services provider’s stock worth $897,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Fiserv stock opened at $52.58 on Friday. Fiserv, Inc. has a 1 year low of $47.04 and a 1 year high of $138.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a 50 day moving average price of $51.65 and a 200 day moving average price of $55.62. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 3.95 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. Sell-side analysts predict that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Paul M. Todd purchased 10,060 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer owned 184,107 shares in the company, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lance M. Fritz purchased 10,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $51.95 per share, with a total value of $519,500.00. Following the completion of the purchase, the director directly owned 27,207 shares of the company’s stock, valued at $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FISV shares. Loop Capital lowered their target price on Fiserv from $63.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, May 15th. Stephens restated an “equal weight” rating and issued a $57.00 price objective on shares of Fiserv in a research report on Tuesday, August 11th. UBS Group set a $60.00 price objective on Fiserv and gave the company a “neutral” rating in a research note on Friday, August 7th. BMO Capital Markets reiterated a “market perform” rating and set a $55.00 price objective (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Finally, B. Riley Financial cut their target price on shares of Fiserv from $69.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Fiserv has a consensus rating of “Hold” and an average price target of $74.20.

Fiserv Profile

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.