243,303 Shares in Fiserv, Inc. $FISV Acquired by Korea Investment CORP

Korea Investment CORP purchased a new stake in Fiserv, Inc. (NASDAQ:FISV) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 243,303 shares of the business services provider’s stock, valued at approximately $11,934,000.

Other large investors also recently made changes to their positions in the company. EP Wealth Advisors LLC acquired a new position in Fiserv in the second quarter valued at $519,000. Callan Family Office LLC acquired a new stake in Fiserv in the 2nd quarter worth about $5,245,000. Keating Financial Advisory Services Inc. purchased a new stake in Fiserv in the 2nd quarter valued at about $30,000. Paralel Advisors LLC acquired a new position in shares of Fiserv during the 2nd quarter valued at about $2,031,000. Finally, Allworth Financial LP purchased a new position in shares of Fiserv during the 2nd quarter worth about $285,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

FISV opened at $52.96 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $139.94. The company has a 50 day moving average of $51.43 and a two-hundred day moving average of $55.76. The company has a market cap of $28.16 billion, a P/E ratio of 10.17, a P/E/G ratio of 3.95 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv’s revenue was down 4.1% on a year-over-year basis. On average, analysts expect that Fiserv, Inc. will post 7.27 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In related news, Director Lance M. Fritz acquired 10,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $51.95 per share, with a total value of $519,500.00. Following the completion of the transaction, the director directly owned 27,207 shares of the company’s stock, valued at $1,413,403.65. This trade represents a 58.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul M. Todd acquired 10,060 shares of Fiserv stock in a transaction on Wednesday, June 17th. The shares were bought at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the purchase, the chief financial officer owned 184,107 shares of the company’s stock, valued at $9,150,117.90. This represents a 5.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on FISV. Truist Financial set a $53.00 target price on shares of Fiserv and gave the company a “hold” rating in a report on Thursday. Wells Fargo & Company set a $56.00 price target on shares of Fiserv and gave the company an “equal weight” rating in a report on Thursday, July 9th. Robert W. Baird set a $78.00 price objective on shares of Fiserv in a research note on Wednesday, May 6th. TD Cowen dropped their price objective on Fiserv from $63.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.20.

About Fiserv

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.