Renaissance Group LLC Raises Holdings in Fiserv, Inc. $FISV

Renaissance Group LLC boosted its stake in Fiserv, Inc. (NASDAQ:FISV) by 22.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 207,317 shares of the business services provider’s stock after buying an additional 37,712 shares during the quarter. Fiserv makes up about 1.4% of Renaissance Group LLC’s holdings, making the stock its 24th biggest position. Renaissance Group LLC’s holdings in Fiserv were worth $35,744,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in Fiserv during the 1st quarter worth about $1,722,584,000. JPMorgan Chase & Co. boosted its stake in shares of Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after purchasing an additional 6,691,703 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Fiserv by 939.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,039,032 shares of the business services provider’s stock worth $351,550,000 after buying an additional 1,842,784 shares in the last quarter. Swedbank AB raised its position in shares of Fiserv by 366.0% in the second quarter. Swedbank AB now owns 1,588,747 shares of the business services provider’s stock valued at $273,916,000 after buying an additional 1,247,801 shares during the last quarter. Finally, GQG Partners LLC purchased a new position in shares of Fiserv during the first quarter valued at approximately $265,769,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Down 2.2%

FISV opened at $61.34 on Wednesday. The firm has a 50 day moving average price of $108.57 and a 200 day moving average price of $139.91. The company has a market cap of $33.34 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. Fiserv, Inc. has a 1 year low of $60.95 and a 1 year high of $238.59. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.08.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The firm had revenue of $4.32 billion for the quarter. Sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insider Activity at Fiserv

In related news, Director Lance M. Fritz bought 10,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was bought at an average price of $65.18 per share, with a total value of $651,800.00. Following the completion of the transaction, the director directly owned 13,086 shares of the company’s stock, valued at approximately $852,945.48. This represents a 324.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on FISV shares. Oppenheimer reaffirmed an “outperform” rating and issued a $91.00 target price on shares of Fiserv in a research note on Thursday, October 30th. B. Riley cut Fiserv from a “buy” rating to a “neutral” rating in a report on Wednesday, October 29th. Jefferies Financial Group lowered their price objective on Fiserv from $130.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Royal Bank Of Canada set a $85.00 target price on Fiserv and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, BNP Paribas cut Fiserv from an “outperform” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Wednesday, November 5th. Eleven research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.25.

Fiserv Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.