Redwood Grove Capital LLC Takes $12.64 Million Position in Fiserv, Inc. $FISV

Redwood Grove Capital LLC purchased a new position in Fiserv, Inc. (NASDAQ:FISV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 257,632 shares of the business services provider’s stock, valued at approximately $12,637,000. Fiserv accounts for about 3.2% of Redwood Grove Capital LLC’s portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also added to or reduced their stakes in FISV. Vanguard Group Inc. bought a new stake in shares of Fiserv during the 4th quarter valued at about $3,507,063,000. Dodge & Cox purchased a new position in shares of Fiserv during the fourth quarter valued at about $3,323,210,000. BlackRock Inc. bought a new position in Fiserv in the second quarter worth about $2,079,711,000. State Street Corp purchased a new stake in Fiserv in the fourth quarter worth about $1,588,663,000. Finally, Geode Capital Management LLC purchased a new stake in Fiserv in the fourth quarter worth about $854,215,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Lance M. Fritz acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, the director directly owned 27,207 shares of the company’s stock, valued at approximately $1,413,403.65. This trade represents a 58.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul M. Todd acquired 10,060 shares of the stock in a transaction dated Wednesday, June 17th. The stock was acquired at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the transaction, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. This represents a 5.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on Fiserv from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, August 7th. BNP Paribas Exane lowered Fiserv from a “neutral” rating to an “underperform” rating and set a $46.00 price objective for the company. in a research report on Friday, June 5th. B. Riley Financial dropped their target price on shares of Fiserv from $69.00 to $66.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $54.00 target price on shares of Fiserv in a research report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.20.

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $52.44 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $27.89 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 3.98 and a beta of 0.80. The business has a 50-day simple moving average of $51.49 and a two-hundred day simple moving average of $55.71. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $138.85.

Fiserv (NASDAQ:FISV) last posted its earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The firm’s revenue was down 4.1% on a year-over-year basis. On average, analysts expect that Fiserv, Inc. will post 7.27 earnings per share for the current year.

Fiserv Profile

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.