Olstein Capital Management L.P. Has $7.48 Million Stake in Fiserv, Inc. $FISV

Olstein Capital Management L.P. raised its holdings in Fiserv, Inc. (NASDAQ:FISV) by 84.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,000 shares of the business services provider’s stock after purchasing an additional 26,500 shares during the period. Fiserv makes up about 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 27th largest holding. Olstein Capital Management L.P.’s holdings in Fiserv were worth $7,478,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Fiserv in the second quarter valued at approximately $1,252,260,000. Goldman Sachs Group Inc. increased its stake in Fiserv by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,778,795 shares of the business services provider’s stock worth $1,055,301,000 after acquiring an additional 190,527 shares during the period. Amundi raised its holdings in Fiserv by 27.2% in the 2nd quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock valued at $652,148,000 after acquiring an additional 807,916 shares in the last quarter. Legal & General Group Plc raised its holdings in Fiserv by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 3,506,096 shares of the business services provider’s stock valued at $604,486,000 after acquiring an additional 39,036 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Fiserv by 1.3% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,811,906 shares of the business services provider’s stock valued at $484,801,000 after acquiring an additional 35,524 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FISV. Truist Financial cut Fiserv from a “buy” rating to a “hold” rating and decreased their price target for the stock from $143.00 to $75.00 in a research report on Thursday, October 30th. Mizuho reduced their price objective on shares of Fiserv from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. Seaport Res Ptn lowered shares of Fiserv from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Citigroup cut their price target on shares of Fiserv from $128.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Finally, Tigress Financial set a $95.00 price target on shares of Fiserv and gave the stock a “buy” rating in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $114.42.

Insider Buying and Selling

In other Fiserv news, CFO Paul M. Todd purchased 17,000 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was purchased at an average price of $62.41 per share, with a total value of $1,060,970.00. Following the completion of the purchase, the chief financial officer owned 24,453 shares of the company’s stock, valued at approximately $1,526,111.73. The trade was a 228.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lance M. Fritz purchased 10,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $65.18 per share, for a total transaction of $651,800.00. Following the acquisition, the director owned 13,086 shares of the company’s stock, valued at $852,945.48. This trade represents a 324.04% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 34,900 shares of company stock worth $2,211,971 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Fiserv Trading Down 2.4%

Shares of Fiserv stock opened at $65.59 on Friday. The firm’s 50 day moving average is $67.58 and its 200 day moving average is $116.52. The firm has a market capitalization of $35.65 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 2.69 and a beta of 0.80. Fiserv, Inc. has a 1 year low of $59.56 and a 1 year high of $238.59. 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 issued its earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $4.32 billion during the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%. Equities research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv 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.