Kerrisdale Advisers LLC Increases Stock Holdings in Fiserv, Inc. $FISV

Kerrisdale Advisers LLC increased its holdings in Fiserv, Inc. (NASDAQ:FISV) by 369.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,815 shares of the business services provider’s stock after buying an additional 28,185 shares during the period. Kerrisdale Advisers LLC’s holdings in Fiserv were worth $1,757,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Private Wealth Asset Management LLC purchased a new stake in shares of Fiserv in the fourth quarter valued at about $25,000. Kimelman & Baird LLC purchased a new position in shares of Fiserv during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC acquired a new position in shares of Fiserv during the 4th quarter worth approximately $27,000. Tripletail Wealth Management LLC purchased a new stake in Fiserv in the 4th quarter valued at approximately $27,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Fiserv in the 4th quarter valued at approximately $29,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FISV shares. Weiss Ratings downgraded Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $53.00 price objective (down from $62.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Stephens reiterated an “equal weight” rating and set a $57.00 price objective on shares of Fiserv in a research report on Tuesday, August 11th. Barclays set a $52.00 target price on shares of Fiserv and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.20.

Fiserv Stock Performance

NASDAQ:FISV opened at $53.18 on Monday. The company has a market cap of $28.28 billion, a P/E ratio of 10.21, a P/E/G ratio of 4.00 and a beta of 0.80. The firm’s 50 day moving average is $51.76 and its two-hundred day moving average is $55.57. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $138.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.07). The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv’s revenue was down 4.1% on a year-over-year basis. Analysts expect that Fiserv, Inc. will post 7.26 EPS for the current year.

Insider Transactions at Fiserv

In other news, CFO Paul M. Todd acquired 10,060 shares of Fiserv stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average cost of $49.70 per share, with a total value of $499,982.00. Following the purchase, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lance M. Fritz bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $51.95 per share, with a total value of $519,500.00. Following the acquisition, the director directly owned 27,207 shares in the company, valued at approximately $1,413,403.65. This trade represents a 58.12% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by insiders.

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.