Cibc World Market Inc. Acquires New Stake in Fiserv, Inc. $FISV

Cibc World Market Inc. bought a new stake in Fiserv, Inc. (NASDAQ:FISV) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 255,916 shares of the business services provider’s stock, valued at approximately $12,553,000.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings cut Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $53.00 price objective (down from $62.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Robert W. Baird set a $78.00 target price on shares of Fiserv in a research note on Wednesday, May 6th. Rothschild & Co Redburn reduced their target price on shares of Fiserv from $50.00 to $40.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Finally, Barclays set a $52.00 price target on shares of Fiserv and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Six equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.20.

Insider Activity at Fiserv

In related news, CFO Paul M. Todd bought 10,060 shares of the stock in a transaction dated Wednesday, June 17th. The stock was acquired at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the acquisition, the chief financial officer owned 184,107 shares in the company, valued at approximately $9,150,117.90. This represents a 5.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lance M. Fritz bought 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 27,207 shares in the company, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by insiders.

Fiserv Stock Up 0.7%

Shares of NASDAQ FISV opened at $52.96 on Tuesday. The business has a 50-day moving average of $51.43 and a two-hundred day moving average of $55.76. The company has a market capitalization of $28.16 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 3.95 and a beta of 0.80. Fiserv, Inc. has a 1 year low of $47.04 and a 1 year high of $139.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv (NASDAQ:FISV) last issued 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 business 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%.Fiserv’s revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.

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.