Inlet Private Wealth LLC Sells 27,000 Shares of Fiserv, Inc. $FISV

Inlet Private Wealth LLC lessened its stake in Fiserv, Inc. (NASDAQ:FISV) by 39.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,095 shares of the business services provider’s stock after selling 27,000 shares during the quarter. Inlet Private Wealth LLC’s holdings in Fiserv were worth $1,857,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FISV. Keating Financial Advisory Services Inc. bought a new position in Fiserv during the second quarter valued at $30,000. Osterweis Capital Management Inc. purchased a new stake in Fiserv in the second quarter worth $32,000. Caitlin John LLC purchased a new stake in Fiserv in the second quarter worth $45,000. Elevation Wealth Partners LLC raised its stake in shares of Fiserv by 537.8% in the second quarter. Elevation Wealth Partners LLC now owns 944 shares of the business services provider’s stock valued at $46,000 after buying an additional 796 shares during the period. Finally, Highland Investment Advisors LLC bought a new stake in shares of Fiserv in the second quarter valued at $48,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. B. Riley Financial dropped their price target on Fiserv from $66.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. Oppenheimer downgraded Fiserv from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 8th. Truist Financial set a $53.00 price objective on Fiserv and gave the stock a “hold” rating in a report on Thursday, August 20th. Stephens restated an “equal weight” rating and issued a $57.00 price objective on shares of Fiserv in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $54.00 price objective on shares of Fiserv in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Fiserv has a consensus rating of “Hold” and an average target price of $66.55.

Fiserv Stock Down 0.1%

Fiserv stock opened at $48.21 on Thursday. Fiserv, Inc. has a 1-year low of $43.87 and a 1-year high of $128.78. The firm has a market capitalization of $25.64 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 4.82 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The firm has a 50 day simple moving average of $49.19 and a 200 day simple moving average of $52.58.

Fiserv (NASDAQ:FISV) last issued its 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 business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts predict that Fiserv, Inc. will post 7.25 earnings per share for the current year.

Insider Activity at Fiserv

In related news, Director Lance Fritz purchased 10,000 shares of Fiserv stock in a transaction dated Friday, August 7th. The stock was bought 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 owned 27,207 shares in the company, valued at $1,413,403.65. This trade represents a 58.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by insiders.

Fiserv Profile

Fiserv, Inc is a global financial technology company that provides payment, banking, and commerce solutions to financial institutions, merchants, and other businesses. Its services support electronic payments, card processing, digital banking, account processing, fraud prevention, and related financial workflows.

The company’s offerings include merchant acceptance and payments technology, issuer processing, digital banking platforms, core account-processing systems, electronic bill payment, and data-driven financial services.