Fiserv, Inc. $FISV Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its stake in Fiserv, Inc. (NASDAQ:FISV) by 478.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,131 shares of the business services provider’s stock after buying an additional 10,860 shares during the quarter. Independence Bank of Kentucky’s holdings in Fiserv were worth $1,693,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FISV. Norges Bank acquired a new stake in Fiserv during the second quarter valued at $1,252,260,000. Marshall Wace LLP acquired a new position in shares of Fiserv in the second quarter worth about $356,643,000. Assenagon Asset Management S.A. boosted its stake in shares of Fiserv by 939.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,039,032 shares of the business services provider’s stock worth $351,550,000 after acquiring an additional 1,842,784 shares in the last quarter. Swedbank AB grew its position in shares of Fiserv by 366.0% during the 2nd quarter. Swedbank AB now owns 1,588,747 shares of the business services provider’s stock valued at $273,916,000 after acquiring an additional 1,247,801 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Fiserv by 2,134.9% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 993,068 shares of the business services provider’s stock valued at $171,215,000 after purchasing an additional 948,634 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In other news, Director Lance M. Fritz acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average cost of $65.18 per share, for a total transaction of $651,800.00. Following the completion of the transaction, the director owned 13,086 shares in the company, valued at approximately $852,945.48. This trade represents a 324.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul M. Todd purchased 17,000 shares of Fiserv stock in a transaction dated Monday, December 1st. The shares were purchased at an average cost of $62.41 per share, for a total transaction of $1,060,970.00. Following the transaction, the chief financial officer owned 24,453 shares in the company, valued at approximately $1,526,111.73. This trade represents a 228.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 34,900 shares of company stock worth $2,211,971 in the last three months. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FISV. Sanford C. Bernstein downgraded Fiserv from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $205.00 to $80.00 in a research report on Thursday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $85.00 target price on shares of Fiserv in a research report on Thursday, December 4th. B. Riley cut shares of Fiserv from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Fiserv in a report on Monday. Finally, BNP Paribas lowered shares of Fiserv from an “outperform” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $121.08.

Fiserv Stock Performance

NASDAQ:FISV opened at $67.94 on Friday. The company has a market cap of $36.93 billion, a P/E ratio of 10.50, a P/E/G ratio of 2.62 and a beta of 0.80. Fiserv, Inc. has a twelve month low of $59.56 and a twelve month high of $238.59. The company’s 50-day moving average price is $78.73 and its 200-day moving average price is $123.35. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.15.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. The company had revenue of $4.32 billion during the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. On average, sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

About Fiserv

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.