Provident Investment Management Inc. Acquires 74,237 Shares of Fiserv, Inc. $FISV

Provident Investment Management Inc. grew its holdings in Fiserv, Inc. (NASDAQ:FISV) by 35.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 284,107 shares of the business services provider’s stock after buying an additional 74,237 shares during the quarter. Fiserv makes up about 4.2% of Provident Investment Management Inc.’s investment portfolio, making the stock its 12th largest holding. Provident Investment Management Inc.’s holdings in Fiserv were worth $48,983,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FISV. SageView Advisory Group LLC lifted its stake in Fiserv by 4.0% in the first quarter. SageView Advisory Group LLC now owns 1,598 shares of the business services provider’s stock worth $353,000 after acquiring an additional 62 shares during the period. 17 Capital Partners LLC raised its holdings in Fiserv by 0.9% in the 1st quarter. 17 Capital Partners LLC now owns 7,513 shares of the business services provider’s stock worth $1,659,000 after purchasing an additional 70 shares in the last quarter. Abacus Wealth Partners LLC lifted its position in shares of Fiserv by 1.6% in the 2nd quarter. Abacus Wealth Partners LLC now owns 4,606 shares of the business services provider’s stock worth $794,000 after purchasing an additional 72 shares during the period. ICW Investment Advisors LLC lifted its position in shares of Fiserv by 0.7% in the 1st quarter. ICW Investment Advisors LLC now owns 10,648 shares of the business services provider’s stock worth $2,351,000 after purchasing an additional 77 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Fiserv by 2.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,811 shares of the business services provider’s stock valued at $485,000 after purchasing an additional 77 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lance M. Fritz acquired 10,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $65.18 per share, with a total value of $651,800.00. Following the acquisition, the director directly owned 13,086 shares in the company, valued at $852,945.48. This represents a 324.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam L. Rosman purchased 7,900 shares of Fiserv stock in a transaction on Tuesday, December 2nd. The stock was bought at an average price of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the acquisition, the insider owned 61,285 shares in the company, valued at $3,872,599.15. The trade was a 14.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 34,900 shares of company stock worth $2,211,971 in the last three months. Company insiders own 1.00% of the company’s stock.

Fiserv Trading Up 0.9%

Fiserv stock opened at $68.75 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.15. Fiserv, Inc. has a 52-week low of $59.56 and a 52-week high of $238.59. The company has a market cap of $37.37 billion, a P/E ratio of 10.63, a P/E/G ratio of 2.65 and a beta of 0.80. The business has a 50-day simple moving average of $84.45 and a two-hundred day simple moving average of $126.34.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The business had revenue of $4.32 billion for the quarter. Analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on FISV shares. Keefe, Bruyette & Woods lowered their price objective on shares of Fiserv from $170.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. BNP Paribas cut Fiserv from an “outperform” rating to a “neutral” rating and set a $62.00 target price for the company. in a research note on Wednesday, November 5th. Susquehanna restated a “positive” rating and set a $99.00 price target (down from $220.00) on shares of Fiserv in a research report on Wednesday, November 12th. Argus reiterated a “hold” rating on shares of Fiserv in a report on Thursday, October 30th. Finally, Mizuho set a $145.00 price target on Fiserv and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fiserv currently has an average rating of “Hold” and a consensus price target of $121.08.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.