Quantitative Investment Management LLC Boosts Stake in Fiserv, Inc. $FISV

Quantitative Investment Management LLC boosted its holdings in Fiserv, Inc. (NASDAQ:FISV) by 103.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,453 shares of the business services provider’s stock after acquiring an additional 16,001 shares during the quarter. Quantitative Investment Management LLC’s holdings in Fiserv were worth $1,542,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Handelsbanken Fonder AB increased its position in shares of Fiserv by 16.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider’s stock valued at $8,638,000 after purchasing an additional 25,477 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Fiserv in the fourth quarter worth approximately $1,996,000. Strs Ohio bought a new position in Fiserv during the fourth quarter valued at approximately $11,255,000. Oppenheimer & Co. Inc. bought a new position in Fiserv during the fourth quarter valued at approximately $1,903,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Fiserv during the fourth quarter worth approximately $4,913,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.2%

Shares of NASDAQ FISV opened at $53.31 on Tuesday. 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, Inc. has a 52 week low of $47.04 and a 52 week high of $138.85. The firm’s fifty day moving average is $51.88 and its 200 day moving average is $55.50. The company has a market cap of $28.35 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 4.00 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last announced 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 firm had revenue of $4.96 billion for 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%. Fiserv’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Insider Activity

In other Fiserv news, CFO Paul M. Todd purchased 10,060 shares of Fiserv stock in a transaction that occurred on Wednesday, June 17th. The shares were bought at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lance M. Fritz purchased 10,000 shares of the stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $51.95 per share, with a total value of $519,500.00. Following the transaction, the director directly owned 27,207 shares in the company, valued at $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. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 12th. Stephens reissued an “equal weight” rating and issued a $57.00 price target on shares of Fiserv in a research note on Tuesday, August 11th. Raymond James Financial restated a “market perform” rating on shares of Fiserv in a research report on Tuesday, July 7th. JPMorgan Chase & Co. decreased their price objective on Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Finally, Susquehanna lowered their target price on Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $74.20.

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.