Readystate Asset Management LP Purchases 120,885 Shares of Fiserv, Inc. $FISV

Readystate Asset Management LP lifted its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 466.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,782 shares of the business services provider’s stock after acquiring an additional 120,885 shares during the quarter. Readystate Asset Management LP’s holdings in Fiserv were worth $7,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Dodge & Cox acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $3,323,210,000. BlackRock Inc. bought a new position in shares of Fiserv during the second quarter valued at $2,079,711,000. State Street Corp bought a new position in shares of Fiserv during the fourth quarter valued at $1,588,663,000. Geode Capital Management LLC acquired a new position in shares of Fiserv during the fourth quarter worth $854,215,000. Finally, Amundi bought a new stake in shares of Fiserv in the fourth quarter worth $825,819,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

In other news, CFO Paul M. Todd bought 10,060 shares of the stock in a transaction dated Wednesday, June 17th. The stock was bought at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the acquisition, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lance M. Fritz purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the transaction, the director directly owned 27,207 shares of the company’s stock, valued at $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by company insiders.

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $53.00 on Monday. 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, Inc. has a twelve month low of $47.04 and a twelve month high of $138.62. The firm has a market capitalization of $28.18 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 3.99 and a beta of 0.80. The stock’s 50 day moving average is $52.22 and its 200-day moving average is $55.29.

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

Wall Street Analysts Forecast Growth

FISV has been the subject of a number of recent research reports. Barclays set a $52.00 price objective on Fiserv and gave the company an “equal weight” rating in a report on Friday, August 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price target (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. 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. Weiss Ratings downgraded Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 12th. Finally, Zacks Research lowered Fiserv from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Six investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.20.

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.