Harber Asset Management LLC Makes New Investment in Fiserv, Inc. $FISV

Harber Asset Management LLC bought a new stake in shares of Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 70,454 shares of the business services provider’s stock, valued at approximately $3,456,000. Fiserv makes up 2.1% of Harber Asset Management LLC’s portfolio, making the stock its 22nd biggest position.

A number of other large investors also recently made changes to their positions in the business. Korea Investment CORP purchased a new stake in Fiserv in the 2nd quarter worth approximately $11,934,000. EP Wealth Advisors LLC acquired a new stake in shares of Fiserv during the 2nd quarter valued at $519,000. Callan Family Office LLC purchased a new position in shares of Fiserv during the 2nd quarter valued at $5,245,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Fiserv in the second quarter worth $30,000. Finally, Paralel Advisors LLC acquired a new position in shares of Fiserv in the second quarter worth $2,031,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Up 2.3%

Shares of NASDAQ:FISV opened at $52.58 on Friday. The stock has a market capitalization of $27.96 billion, a PE ratio of 10.09, a P/E/G ratio of 3.86 and a beta of 0.80. Fiserv, Inc. has a 1 year low of $47.04 and a 1 year high of $140.09. The firm has a fifty day moving average price of $51.33 and a 200 day moving average price of $55.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV) last posted its earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. Fiserv’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.

Insider Activity

In related news, 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 price of $51.95 per share, with a total value of $519,500.00. Following the acquisition, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul M. Todd acquired 10,060 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was bought at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the purchase, the chief financial officer directly owned 184,107 shares in the company, valued at $9,150,117.90. This represents a 5.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FISV. Robert W. Baird set a $78.00 price objective on Fiserv in a research report on Wednesday, May 6th. Stephens reaffirmed an “equal weight” rating and issued a $57.00 target price on shares of Fiserv in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $53.00 price target (down from $62.00) on shares of Fiserv in a research note on Wednesday, July 22nd. TD Cowen reduced their price target on Fiserv from $63.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 7th. Finally, UBS Group set a $60.00 price target on Fiserv and gave the company a “neutral” rating in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fiserv presently has a consensus rating of “Hold” and an average target price of $74.20.

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.