Mystic Asset Management Inc. Makes New Investment in Fiserv, Inc. $FISV

Mystic Asset Management Inc. purchased a new stake in Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,805 shares of the business services provider’s stock, valued at approximately $873,000.

Several other large investors have also recently added to or reduced their stakes in the company. WFA of San Diego LLC acquired a new position in shares of Fiserv in the 2nd quarter worth approximately $55,000. Oakworth Capital Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $25,000. Private Wealth Asset Management LLC acquired a new position in Fiserv in the fourth quarter valued at approximately $25,000. Goodman Advisory Group LLC acquired a new position in Fiserv in the fourth quarter valued at approximately $27,000. Finally, Tripletail Wealth Management LLC bought a new position in Fiserv in the fourth quarter valued at approximately $27,000. 90.98% of the stock is owned by institutional investors.

Fiserv Trading Down 1.3%

Shares of NASDAQ:FISV opened at $51.38 on Friday. Fiserv, Inc. has a one year low of $47.04 and a one year high of $140.19. The stock has a market capitalization of $27.32 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 3.91 and a beta of 0.80. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50-day moving average price is $51.36 and its two-hundred day moving average price is $55.87.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share 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 net margin of 13.42% and a return on equity of 15.80%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FISV shares. Rothschild & Co Redburn decreased their price objective on Fiserv from $50.00 to $40.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 target price (down from $75.00) on shares of Fiserv in a research note on Friday, August 7th. BMO Capital Markets restated a “market perform” rating and set a $55.00 target price (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Truist Financial set a $53.00 target price on Fiserv and gave the stock a “hold” rating in a research report on Thursday. Finally, B. Riley Financial cut their price target on shares of Fiserv from $69.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.20.

Insider Activity

In other Fiserv news, Director Lance M. Fritz purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the purchase, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. The trade was a 58.12% 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, CFO Paul M. Todd acquired 10,060 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was bought at an average cost 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 trade 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 owned by insiders.

Fiserv Company 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.