Fiserv, Inc. $FISV Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Fiserv, Inc. (NASDAQ:FISV) by 10.6% in the third quarter, HoldingsChannel reports. The fund owned 3,049,201 shares of the business services provider’s stock after selling 363,204 shares during the period. Bank of New York Mellon Corp’s holdings in Fiserv were worth $393,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vise Technologies Inc. purchased a new position in shares of Fiserv during the 2nd quarter worth about $2,320,000. Factory Mutual Insurance Co. increased its position in Fiserv by 11.7% during the second quarter. Factory Mutual Insurance Co. now owns 157,000 shares of the business services provider’s stock worth $27,068,000 after purchasing an additional 16,500 shares during the last quarter. Dillon & Associates Inc. boosted its holdings in shares of Fiserv by 9.1% in the 2nd quarter. Dillon & Associates Inc. now owns 88,570 shares of the business services provider’s stock valued at $15,234,000 after purchasing an additional 7,419 shares during the last quarter. Ipsen Advisor Group LLC purchased a new stake in shares of Fiserv during the 2nd quarter valued at $759,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of Fiserv by 236.6% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 8,037 shares of the business services provider’s stock valued at $1,386,000 after buying an additional 5,649 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

Fiserv stock opened at $63.43 on Friday. The firm has a market capitalization of $34.48 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. Fiserv, Inc. has a one year low of $59.56 and a one year high of $238.59. The stock’s 50 day moving average price is $66.28 and its 200 day moving average price is $102.96. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.08 and a current ratio of 1.08.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.60). The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.30 EPS. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Adam L. Rosman purchased 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were purchased at an average price of $63.19 per share, with a total value of $499,201.00. Following the purchase, the insider directly owned 61,285 shares of the company’s stock, valued at approximately $3,872,599.15. This represents a 14.80% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Paul M. Todd acquired 17,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was purchased at an average price of $62.41 per share, for a total transaction of $1,060,970.00. Following the acquisition, the chief financial officer directly owned 24,453 shares in the company, valued at $1,526,111.73. This represents a 228.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BNP Paribas Exane cut Fiserv from an “outperform” rating to a “neutral” rating and set a $62.00 target price on the stock. in a report on Wednesday, November 5th. Truist Financial downgraded Fiserv from a “buy” rating to a “hold” rating and cut their price objective for the stock from $143.00 to $75.00 in a report on Thursday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $85.00 target price on shares of Fiserv in a report on Thursday, December 4th. William Blair downgraded shares of Fiserv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group cut shares of Fiserv from a “buy” rating to a “neutral” rating and reduced their price target for the company from $149.00 to $79.00 in a research report on Thursday, October 30th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.34.

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.