Fiserv, Inc. $FISV Shares Newly Acquired by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC purchased a new position in shares of Fiserv, Inc. (NASDAQ:FISV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,354 shares of the business services provider’s stock, valued at approximately $558,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Fiserv during the second quarter valued at approximately $2,079,711,000. JANA Partners Management LP boosted its position in Fiserv by 97.5% during the first quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock worth $247,507,000 after acquiring an additional 2,190,085 shares during the last quarter. Deutsche Bank AG purchased a new stake in Fiserv in the 2nd quarter worth approximately $178,310,000. Legal & General Group Plc purchased a new stake in Fiserv in the 2nd quarter worth approximately $161,557,000. Finally, Turtle Creek Asset Management Inc. grew its stake in Fiserv by 968.1% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock worth $147,517,000 after acquiring an additional 2,396,167 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FISV shares. Raymond James Financial restated a “market perform” rating on shares of Fiserv in a report on Tuesday, July 7th. Cantor Fitzgerald dropped their target price on Fiserv from $53.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. TD Cowen reduced their target price on Fiserv from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, October 9th. Finally, Bank of America assumed coverage on Fiserv in a research note on Thursday. They issued an “underperform” rating and a $48.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.17.

Fiserv Stock Performance

Shares of FISV stock opened at $47.55 on Friday. 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 market capitalization of $25.29 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 4.74 and a beta of 0.80. Fiserv, Inc. has a one year low of $43.87 and a one year high of $128.78. The company has a 50 day moving average price of $49.44 and a 200 day moving average price of $52.76.

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 analysts’ consensus estimates of $1.91 by ($0.07). The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The company’s revenue was down 4.1% on a year-over-year basis. Sell-side analysts anticipate that Fiserv, Inc. will post 7.25 EPS for the current year.

Insider Activity at Fiserv

In other news, Director Lance Fritz bought 10,000 shares of the business’s stock in a transaction that occurred 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 owned 27,207 shares of the company’s stock, valued at $1,413,403.65. This represents a 58.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Fiserv Profile

Fiserv, Inc is a global financial technology company that provides payments and financial services technology to banks, credit unions, merchants and other businesses. Its offerings support electronic payments, account processing, digital banking, merchant acquiring, fraud prevention and related financial services operations.

The company’s products and platforms include Clover, a point-of-sale and business management system for small and midsize businesses; Carat, which provides enterprise commerce and payment solutions; and services that help financial institutions manage accounts, digital channels, card programs, payments and data.