Fiserv, Inc. $FISV Stock: Rakuten Investment Management Inc. Grows Stake

Rakuten Investment Management Inc. grew its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 9.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 95,543 shares of the business services provider’s stock after buying an additional 8,236 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Fiserv were worth $4,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. William Mack & Associates Inc. bought a new stake in shares of Fiserv in the third quarter valued at about $26,000. Next Level Wealth Planning LLC acquired a new position in shares of Fiserv in the third quarter valued at about $29,000. Keating Financial Advisory Services Inc. bought a new position in Fiserv during the second quarter worth about $30,000. Osterweis Capital Management Inc. bought a new position in Fiserv during the second quarter worth about $32,000. Finally, Pinnacle Wealth Planning Services Inc. increased its position in Fiserv by 49.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider’s stock worth $39,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Key Headlines Impacting Fiserv

Here are the key news stories impacting Fiserv this week:

• Positive Sentiment: Fiserv reported quarterly EPS of $1.75, topping the $1.72 consensus estimate; revenue of $4.85 billion matched expectations. Shares subsequently bounced, and coverage highlighted Project Elevate as support for an undervaluation thesis. Article: Fiserv Shares Gap Up After Better-Than-Expected Earnings Article: Fiserv Rebounds on Project Elevate
• Positive Sentiment: KBW reaffirmed its Buy rating and raised its price target. Citigroup and RBC also issued positive forecasts, adding support to the bullish view. Article: KBW Reaffirms Buy Rating Article: Citigroup Forecast Article: RBC Forecast
• Neutral Sentiment: Fiserv added Raj Seshadri to its board, a move tied to its payments and data focus. UBS raised its target to $68 but kept a Neutral rating. Article: Fiserv Adds Raj Seshadri to Board
• Negative Sentiment: Revenue declined 1.3% year over year, and analyst opinion remains divided: Bank of America maintained a Sell rating, while B. Riley kept its Hold rating. Article: Bank of America Maintains Sell Rating Article: B. Riley Maintains Hold Rating

Fiserv Price Performance

FISV stock traded up $0.14 during midday trading on Friday, reaching $62.88. The company had a trading volume of 9,729,897 shares, compared to its average volume of 5,641,700. The company has a market capitalization of $33.44 billion, a price-to-earnings ratio of -8.47, a price-to-earnings-growth ratio of 5.19 and a beta of 0.85. The stock has a 50 day moving average price of $49.34 and a 200-day moving average price of $54.59. Fiserv, Inc. has a 1-year low of $43.87 and a 1-year high of $70.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.03. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.85 billion. The firm’s revenue was down 1.3% compared to the same quarter last year. Equities research analysts expect that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on FISV shares. B. Riley Financial reissued a “neutral” rating and issued a $60.00 price objective (up from $51.00) on shares of Fiserv in a report on Wednesday. Argus raised shares of Fiserv from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Wednesday. Bank of America assumed coverage on shares of Fiserv in a research report on Thursday, October 15th. They issued an “underperform” rating and a $48.00 price target for the company. BMO Capital Markets set a $48.00 price target on Fiserv and gave the company a “market perform” rating in a research note on Tuesday, October 27th. Finally, Susquehanna reduced their price target on Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.11.

Fiserv Company Profile

Fiserv is a financial technology company that provides payment and financial services technology to banks, credit unions, businesses and merchants. Its offerings include payment processing, digital banking, account processing, debit and credit card services, and tools that help financial institutions manage customer accounts and transactions.

For merchants, Fiserv offers Clover, a platform that combines point-of-sale hardware and software with payment acceptance and business management tools.