Gabelli Funds LLC Grows Stake in Fiserv, Inc. $FISV

Gabelli Funds LLC raised its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 223.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,874 shares of the business services provider’s stock after purchasing an additional 21,324 shares during the period. Gabelli Funds LLC’s holdings in Fiserv were worth $5,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. E Fund Management Co. Ltd. grew its holdings in 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 acquiring an additional 55 shares in the last quarter. SageView Advisory Group LLC lifted its position in shares of 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 purchasing an additional 62 shares during the period. 17 Capital Partners LLC boosted its stake in shares of Fiserv by 0.9% during the first quarter. 17 Capital Partners LLC now owns 7,513 shares of the business services provider’s stock valued at $1,659,000 after purchasing an additional 70 shares in the last quarter. Abacus Wealth Partners LLC increased 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 buying an additional 72 shares during the period. Finally, ICW Investment Advisors LLC raised its stake in Fiserv by 0.7% in the first quarter. ICW Investment Advisors LLC now owns 10,648 shares of the business services provider’s stock worth $2,351,000 after buying an additional 77 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on FISV shares. KeyCorp cut Fiserv from an “overweight” rating to a “hold” rating in a research report on Thursday, October 30th. Jefferies Financial Group dropped their price objective on Fiserv from $70.00 to $60.00 and set a “hold” rating on the stock in a research report on Monday, November 24th. Wall Street Zen lowered Fiserv from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Wolfe Research reissued a “peer perform” rating on shares of Fiserv in a research report on Wednesday, October 29th. Finally, Sanford C. Bernstein downgraded shares of Fiserv from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $205.00 to $80.00 in a research report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $121.08.

Fiserv Trading Up 0.7%

Shares of Fiserv stock opened at $66.21 on Wednesday. The firm’s 50 day simple moving average is $87.96 and its two-hundred day simple moving average is $128.04. The firm has a market capitalization of $35.99 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.53 and a beta of 0.80. Fiserv, Inc. has a 12-month low of $59.56 and a 12-month high of $238.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.15.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 earnings per share 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 predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Insider Buying and Selling at Fiserv

In other news, CFO Paul M. Todd acquired 17,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were acquired at an average cost of $62.41 per share, with a total value of $1,060,970.00. Following the completion of the acquisition, the chief financial officer owned 24,453 shares of the company’s stock, valued at approximately $1,526,111.73. This trade represents a 228.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lance M. Fritz bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average cost of $65.18 per share, with a total value of $651,800.00. Following the acquisition, the director directly owned 13,086 shares of the company’s stock, valued at approximately $852,945.48. This trade represents a 324.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 34,900 shares of company stock worth $2,211,971. 0.75% of the stock is currently owned by insiders.

About Fiserv

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.