Fiserv, Inc. $FISV Stock Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC boosted its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 252.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,937 shares of the business services provider’s stock after acquiring an additional 14,282 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Fiserv were worth $994,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Fiserv in the 2nd quarter valued at approximately $2,079,711,000. JANA Partners Management LP increased its holdings in Fiserv by 97.5% in the 1st quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock valued at $247,507,000 after purchasing an additional 2,190,085 shares during the last quarter. Deutsche Bank AG purchased a new stake in Fiserv in the second quarter valued at approximately $178,310,000. Legal & General Group Plc purchased a new stake in Fiserv in the second quarter valued at approximately $161,557,000. Finally, Turtle Creek Asset Management Inc. lifted its stake in Fiserv by 968.1% during the first quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock worth $147,517,000 after purchasing an additional 2,396,167 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Price Performance

Fiserv stock opened at $63.32 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.22. Fiserv, Inc. has a 52-week low of $43.87 and a 52-week high of $70.41. The firm has a market cap of $33.69 billion, a PE ratio of -8.53, a price-to-earnings-growth ratio of 5.65 and a beta of 0.85. The company’s 50 day moving average is $49.75 and its two-hundred day moving average is $54.56.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.72 by $0.03. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.85 billion. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, research analysts expect that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FISV shares. Susquehanna lowered their price target on Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research report on Friday, August 7th. Morgan Stanley boosted their price objective on Fiserv from $59.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. Oppenheimer lowered Fiserv from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 8th. Citigroup raised their target price on Fiserv from $53.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. Finally, UBS Group raised their target price on Fiserv from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fiserv currently has an average rating of “Hold” and a consensus price target of $64.26.

About Fiserv

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. The company also provides services for processing digital and in-person payments and supporting commerce across multiple channels.