80,882 Shares in Fiserv, Inc. $FISV Bought by Saranac Partners Ltd

Saranac Partners Ltd acquired a new position in Fiserv, Inc. (NASDAQ:FISV) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 80,882 shares of the business services provider’s stock, valued at approximately $3,965,000.

A number of other hedge funds have also recently modified their holdings of FISV. Brighton Jones LLC lifted its position in Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock valued at $872,000 after acquiring an additional 2,033 shares during the period. Bison Wealth LLC grew its holdings in Fiserv by 5.3% in the fourth quarter. Bison Wealth LLC now owns 2,299 shares of the business services provider’s stock worth $472,000 after purchasing an additional 116 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Fiserv by 21.0% during the second quarter. Schnieders Capital Management LLC. now owns 2,782 shares of the business services provider’s stock valued at $480,000 after purchasing an additional 483 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Fiserv during the second quarter valued at approximately $1,001,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Fiserv by 7.2% during the second quarter. Gamco Investors INC. ET AL now owns 5,200 shares of the business services provider’s stock valued at $897,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

FISV opened at $52.58 on Monday. The company’s 50-day simple moving average is $51.33 and its two-hundred day simple moving average is $55.80. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $140.09. The stock has a market capitalization of $27.96 billion, a P/E ratio of 10.09, a P/E/G ratio of 3.95 and a beta of 0.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Fiserv’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts predict that Fiserv, Inc. will post 7.27 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on FISV. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. BNP Paribas Exane cut shares of Fiserv from a “neutral” rating to an “underperform” rating and set a $46.00 price target on the stock. in a research note on Friday, June 5th. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Robert W. Baird set a $78.00 target price on shares of Fiserv in a research note on Wednesday, May 6th. Finally, Susquehanna cut their price target on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a report on Friday, August 7th. Six equities research 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. According to MarketBeat, Fiserv has a consensus rating of “Hold” and a consensus target price of $74.20.

Insider Transactions at Fiserv

In other Fiserv news, Director Lance M. Fritz bought 10,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,413,403.65. This represents a 58.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul M. Todd purchased 10,060 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the purchase, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is currently owned by corporate insiders.

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.