Lance Fritz Purchases 10,000 Shares of Fiserv (NASDAQ:FISV) Stock

Fiserv, Inc. (NASDAQ:FISV) Director Lance Fritz bought 10,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, the director owned 27,207 shares of the company’s stock, valued at $1,413,403.65. This trade represents a 58.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fiserv Trading Up 1.0%

Shares of FISV traded up $0.50 during midday trading on Tuesday, hitting $52.72. 8,093,902 shares of the stock were exchanged, compared to its average volume of 7,918,520. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $140.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.06 and a current ratio of 1.04. The stock has a fifty day simple moving average of $51.63 and a 200 day simple moving average of $56.61. The firm has a market cap of $28.11 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.64 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last posted its earnings results 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). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The firm 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% on a year-over-year basis. On average, research analysts anticipate that Fiserv, Inc. will post 7.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Fiserv

Several institutional investors have recently added to or reduced their stakes in FISV. Oakworth Capital Inc. purchased a new position in Fiserv in the fourth quarter valued at approximately $25,000. Private Wealth Asset Management LLC acquired a new position in shares of Fiserv in the 4th quarter valued at $25,000. Kimelman & Baird LLC acquired a new position in shares of Fiserv in the 4th quarter valued at $27,000. Goodman Advisory Group LLC purchased a new position in shares of Fiserv in the 4th quarter valued at $27,000. Finally, Tripletail Wealth Management LLC purchased a new position in shares of Fiserv in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

FISV has been the subject of several recent research reports. Raymond James Financial reissued a “market perform” rating on shares of Fiserv in a research note on Tuesday, July 7th. Mizuho dropped their price target on shares of Fiserv from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Rothschild & Co Redburn cut their price objective on Fiserv from $50.00 to $40.00 and set a “sell” rating on the stock in a research report on Tuesday, May 12th. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 target price (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Finally, Truist Financial reduced their target price on shares of Fiserv from $58.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Six analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.17.

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.