Flat Footed LLC Purchases Shares of 240,000 Fiserv, Inc. $FISV

Flat Footed LLC bought a new stake in Fiserv, Inc. (NASDAQ:FISV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 240,000 shares of the business services provider’s stock, valued at approximately $11,772,000,000. Fiserv comprises about 0.9% of Flat Footed LLC’s investment portfolio, making the stock its 9th largest position.

A number of other large investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. acquired a new stake in shares of Fiserv in the fourth quarter valued at $25,000. Private Wealth Asset Management LLC acquired a new position in Fiserv during the 4th quarter worth about $25,000. Kimelman & Baird LLC acquired a new position in Fiserv during the 4th quarter worth about $27,000. Goodman Advisory Group LLC acquired a new position in Fiserv in the 4th quarter valued at about $27,000. Finally, Tripletail Wealth Management LLC purchased a new stake in Fiserv during the fourth quarter worth about $27,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FISV has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and issued a $57.00 price objective on shares of Fiserv in a research note on Tuesday, August 11th. Barclays set a $52.00 target price on shares of Fiserv and gave the stock an “equal weight” rating in a report on Friday, August 7th. Morgan Stanley set a $59.00 price target on shares of Fiserv in a research note on Friday, August 7th. Mizuho cut their price objective on Fiserv from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, Citigroup reiterated a “neutral” rating and issued a $57.00 price objective (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fiserv has a consensus rating of “Hold” and a consensus price target of $74.20.

Insiders Place Their Bets

In other Fiserv news, CFO Paul M. Todd purchased 10,060 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was bought 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. This represents a 5.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lance M. Fritz acquired 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. This represents a 58.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.06% of the company’s stock.

Fiserv Stock Down 1.0%

Shares of Fiserv stock opened at $52.44 on Wednesday. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $138.85. The company has a 50 day moving average of $51.49 and a 200 day moving average of $55.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $27.89 billion, a P/E ratio of 10.07, a P/E/G ratio of 3.98 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Fiserv’s revenue was down 4.1% on a year-over-year basis. As a group, research analysts forecast that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.

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.