Commerce Bank Purchases Shares of 199,767 Fiserv, Inc. $FISV

Commerce Bank acquired a new position in Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, HoldingsChannel reports. The fund acquired 199,767 shares of the business services provider’s stock, valued at approximately $9,799,000.

Several other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Fiserv during the 2nd quarter valued at approximately $1,864,000. Quantbot Technologies LP purchased a new stake in Fiserv during the second quarter worth $459,000. Varma Mutual Pension Insurance Co acquired a new stake in Fiserv during the second quarter valued at $647,000. Westpac Banking Corp acquired a new stake in Fiserv during the second quarter valued at $175,000. Finally, Harber Asset Management LLC purchased a new position in Fiserv in the second quarter valued at $3,456,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

Shares of NASDAQ FISV opened at $52.58 on Monday. The company’s 50-day simple moving average is $51.33 and its 200-day simple moving average is $55.80. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $140.09. The firm has a market cap of $27.96 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 3.95 and a beta of 0.80. 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 released its quarterly 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 for the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The business’s revenue was down 4.1% on a year-over-year basis. Equities analysts predict that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BNP Paribas Exane lowered shares of Fiserv from a “neutral” rating to an “underperform” rating and set a $46.00 target price on the stock. in a research note on Friday, June 5th. Truist Financial set a $53.00 price target on Fiserv and gave the stock a “hold” rating in a report on Thursday. Stephens reiterated an “equal weight” rating and set a $57.00 price target on shares of Fiserv in a research report on Tuesday, August 11th. Royal Bank Of Canada reissued 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. Finally, TD Cowen cut their price objective on Fiserv from $63.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fiserv currently has an average rating of “Hold” and an average target price of $74.20.

Insider Activity 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 cost of $51.95 per share, for a total transaction of $519,500.00. Following the purchase, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Paul M. Todd bought 10,060 shares of Fiserv stock in a transaction on Wednesday, June 17th. The shares were purchased at an average cost of $49.70 per share, with a total value of $499,982.00. Following the acquisition, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. The trade was a 5.78% 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 insiders.

Fiserv Company 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.