WealthPlan Investment Management LLC Buys New Shares in Fiserv, Inc. (NASDAQ:FISV)

WealthPlan Investment Management LLC bought a new stake in shares of Fiserv, Inc. (NASDAQ:FISV – Get Rating) in the 3rd quarter, HoldingsChannel reports. The firm bought 2,576 shares of the business services provider’s stock, valued at approximately $259,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Secure Asset Management LLC acquired a new stake in Fiserv during the third quarter valued at approximately $202,000. Hartford Investment Management Co. lifted its position in shares of Fiserv by 10.0% in the 3rd quarter. Hartford Investment Management Co. now owns 64,479 shares of the business services provider’s stock valued at $6,033,000 after acquiring an additional 5,847 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fiserv by 12.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,126 shares of the business services provider’s stock valued at $9,462,000 after acquiring an additional 11,385 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Fiserv by 43.3% in the 3rd quarter. Fifth Third Bancorp now owns 156,728 shares of the business services provider’s stock valued at $14,665,000 after acquiring an additional 47,365 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Fiserv by 10.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,839 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 170 shares in the last quarter. 88.79% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Performance

NASDAQ:FISV opened at $108.17 on Friday. Fiserv, Inc. has a 1 year low of $87.03 and a 1 year high of $119.48. The firm’s fifty day simple moving average is $110.27 and its 200 day simple moving average is $103.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $67.94 billion, a PE ratio of 27.59, a PEG ratio of 1.24 and a beta of 0.86.

Fiserv (NASDAQ:FISV – Get Rating) last posted its earnings results on Tuesday, February 7th. The business services provider reported $1.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.91. Fiserv had a net margin of 14.26% and a return on equity of 13.32%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period last year, the business posted $1.57 EPS. Fiserv’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Fiserv, Inc. will post 7.32 EPS for the current year.

Fiserv announced that its board has initiated a stock repurchase program on Thursday, February 23rd that authorizes the company to repurchase 75,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FISV has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Fiserv from $95.00 to $105.00 in a research report on Wednesday, February 8th. Royal Bank of Canada increased their target price on shares of Fiserv from $123.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Citigroup increased their target price on shares of Fiserv from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Raymond James increased their target price on shares of Fiserv from $109.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Finally, Credit Suisse Group increased their target price on shares of Fiserv from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.14.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 8,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the transaction, the chief operating officer now directly owns 211,356 shares in the company, valued at approximately $24,250,987.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Fiserv news, COO Guy Chiarello sold 8,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the sale, the chief operating officer now directly owns 211,356 shares in the company, valued at approximately $24,250,987.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Holdings L.P. Valueact sold 675,014 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $101.51, for a total transaction of $68,520,671.14. Following the completion of the sale, the director now owns 11,647,776 shares in the company, valued at $1,182,365,741.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,755,044 shares of company stock worth $179,073,098. 1.00% of the stock is owned by insiders.

Fiserv Profile

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Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.