112,405 Fiserv, Inc. $FISV Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Fiserv, Inc. (NASDAQ:FISV) by 28.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 504,877 shares of the business services provider’s stock after purchasing an additional 112,405 shares during the period. Pictet Asset Management Holding SA’s holdings in Fiserv were worth $22,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Fiserv in the second quarter valued at approximately $2,079,711,000. JANA Partners Management LP increased its position in Fiserv by 97.5% during the first quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock worth $247,507,000 after acquiring an additional 2,190,085 shares during the period. Deutsche Bank AG bought a new position in Fiserv during the second quarter worth $178,310,000. Legal & General Group Plc bought a new position in Fiserv during the second quarter worth $161,557,000. Finally, Turtle Creek Asset Management Inc. raised its stake in Fiserv by 968.1% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock valued at $147,517,000 after purchasing an additional 2,396,167 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group increased their price target on shares of Fiserv from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. Barclays raised their price target on shares of Fiserv from $50.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 4th. The Goldman Sachs Group restated a “neutral” rating and set a $54.00 price objective on shares of Fiserv in a report on Friday, August 7th. Citigroup upped their price objective on shares of Fiserv from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Bank of America began coverage on shares of Fiserv in a research report on Thursday, October 15th. They set an “underperform” rating and a $48.00 price objective for the company. Six analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $64.64.

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $63.90 on Thursday. The firm has a market capitalization of $34.00 billion, a PE ratio of -8.61, a PEG ratio of 5.63 and a beta of 0.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.22. Fiserv, Inc. has a 1-year low of $43.87 and a 1-year high of $70.41. The business’s 50 day moving average is $49.99 and its 200-day moving average is $54.54.

Fiserv (NASDAQ:FISV) last issued its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.03. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.85 billion. Fiserv had a positive return on equity of 15.76% and a negative net margin of 18.91%. The firm’s revenue was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Fiserv, Inc. will post 7.28 earnings per share for the current year.

Key Fiserv News

Here’s some of the latest news about FISV:

• Positive Sentiment: Clover adds AI-powered eCommerce features: Fiserv launched tools intended to help small businesses build an online presence and get discovered through traditional search and AI shopping experiences. The expansion could help Clover serve merchants across both in-store and online commerce. Article: Fiserv’s Clover Adds AI Tools to Help Small Businesses Reach eCommerce Shoppers
• Positive Sentiment: Analysts lifted price targets: Citigroup raised its target from $62 to $67 while keeping a neutral rating; Bernstein raised its target from $60 to $70 and maintained a market-perform rating. Truist also increased its target, from $51 to $65, but kept a hold rating. The revisions suggest improved price expectations, though analysts remain cautious rather than strongly bullish. Fiserv Stock Price Targets
• Neutral Sentiment: Valuation commentary is favorable but not a new company development: A Yahoo Finance article argues Fiserv appears undervalued based on its excess returns. This may support investor interest, but it is an outside analysis rather than a change to the company’s outlook. Article: Fiserv Stock Looks Undervalued With Strong Excess Returns

Fiserv Company Profile

Fiserv is a financial technology company that provides payment and financial services technology to banks, credit unions, businesses and merchants. Its offerings include payment processing, digital banking, account processing, debit and credit card services, and tools that help financial institutions manage customer accounts and transactions. For merchants, Fiserv offers Clover, a platform that combines point-of-sale hardware and software with payment acceptance and business management tools. The company also provides services for processing digital and in-person payments and supporting commerce across multiple channels.