Fiserv (NASDAQ:FISV) Trading 5.9% Higher Following Insider Buying Activity

Fiserv, Inc. (NASDAQ:FISV)’s share price rose 5.9% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $67.72 and last traded at $66.95. Approximately 14,899,691 shares changed hands during mid-day trading, an increase of 158% from the average daily volume of 5,765,417 shares. The stock had previously closed at $63.24.

Specifically, CFO Paul M. Todd purchased 17,000 shares of Fiserv stock in a transaction dated Monday, December 1st. The shares were bought at an average cost of $62.41 per share, for a total transaction of $1,060,970.00. Following the transaction, the chief financial officer owned 24,453 shares in the company, valued at $1,526,111.73. This represents a 228.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman acquired 7,900 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were acquired at an average cost of $63.19 per share, with a total value of $499,201.00. Following the transaction, the insider owned 61,285 shares in the company, valued at approximately $3,872,599.15. The trade was a 14.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

A number of equities analysts have commented on FISV shares. The Goldman Sachs Group downgraded Fiserv from a “buy” rating to a “neutral” rating and decreased their target price for the company from $149.00 to $79.00 in a research note on Thursday, October 30th. JPMorgan Chase & Co. restated a “neutral” rating and set a $85.00 price objective on shares of Fiserv in a research report on Thursday. KeyCorp downgraded Fiserv from an “overweight” rating to a “hold” rating in a research note on Thursday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $91.00 target price on shares of Fiserv in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein cut Fiserv from an “outperform” rating to a “market perform” rating and cut their target price for the company from $205.00 to $80.00 in a research note on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fiserv presently has a consensus rating of “Hold” and an average target price of $121.08.

Fiserv Trading Down 1.3%

The firm has a market capitalization of $35.91 billion, a P/E ratio of 10.21, a PEG ratio of 2.58 and a beta of 0.80. The business’s 50 day moving average is $91.77 and its two-hundred day moving average is $130.57. 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 (NASDAQ:FISV) last released its earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The firm had revenue of $4.32 billion for the quarter. Analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. E Fund Management Co. Ltd. raised its stake in shares of Fiserv by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,463 shares of the business services provider’s stock worth $323,000 after buying an additional 55 shares during the period. LaSalle St. Investment Advisors LLC grew its stake in Fiserv by 5.1% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 1,273 shares of the business services provider’s stock valued at $281,000 after acquiring an additional 62 shares during the period. SageView Advisory Group LLC increased its holdings in Fiserv by 4.0% in the 1st 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 in the last quarter. 17 Capital Partners LLC raised its position in Fiserv by 0.9% during the first quarter. 17 Capital Partners LLC now owns 7,513 shares of the business services provider’s stock worth $1,659,000 after acquiring an additional 70 shares during the period. Finally, Abacus Wealth Partners LLC lifted its holdings in Fiserv by 1.6% during the second quarter. Abacus Wealth Partners LLC now owns 4,606 shares of the business services provider’s stock valued at $794,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.