Mitsubishi UFJ Asset Management Co. Ltd. Takes $63.66 Million Position in Fiserv, Inc. $FISV

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,297,826 shares of the business services provider’s stock, valued at approximately $63,658,000.

Several other hedge funds have also recently bought and sold shares of FISV. Vanguard Group Inc. purchased a new position in Fiserv during the 4th quarter valued at about $3,507,063,000. Dodge & Cox purchased a new stake in Fiserv during the fourth quarter worth about $3,323,210,000. State Street Corp purchased a new stake in Fiserv during the fourth quarter worth about $1,588,663,000. Geode Capital Management LLC acquired a new stake in shares of Fiserv during the fourth quarter worth about $854,215,000. Finally, Amundi acquired a new stake in shares of Fiserv during the fourth quarter worth about $825,819,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In related news, Director Lance M. Fritz acquired 10,000 shares of Fiserv stock in a transaction dated Friday, August 7th. The stock was acquired 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 of the company’s stock, valued at $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul M. Todd bought 10,060 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was bought at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the transaction, the chief financial officer directly 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 SEC filing for this purchase provides additional information. 0.06% of the stock is owned by insiders.

Fiserv Stock Up 0.7%

Shares of NASDAQ:FISV opened at $52.08 on Thursday. The firm’s 50 day moving average price is $51.39 and its 200 day moving average price is $55.96. The stock has a market cap of $27.69 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 3.88 and a beta of 0.80. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $140.42. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) 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 firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts predict that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FISV shares. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price objective (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. Keefe, Bruyette & Woods decreased their price target on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. UBS Group set a $60.00 price target on shares of Fiserv and gave the stock a “neutral” rating in a research note on Friday, August 7th. Stephens reaffirmed an “equal weight” rating and set a $57.00 price objective on shares of Fiserv in a research report on Tuesday, August 11th. Finally, BNP Paribas Exane cut Fiserv from a “neutral” rating to an “underperform” rating and set a $46.00 price objective on the stock. in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.17.

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.