720,930 Shares of Fiserv, Inc. $FISV Bought by Private Management Group Inc.

Private Management Group Inc. acquired a new stake in Fiserv, Inc. (NASDAQ:FISV) during the third quarter, Holdings Channel reports. The institutional investor acquired 720,930 shares of the business services provider’s stock, valued at approximately $32,572,000.

Other institutional investors have also recently modified their holdings of the company. William Mack & Associates Inc. acquired a new stake in shares of Fiserv during the third quarter worth about $26,000. Next Level Wealth Planning LLC acquired a new position in Fiserv in the 3rd quarter worth approximately $29,000. Keating Financial Advisory Services Inc. purchased a new position in Fiserv during the 2nd quarter worth approximately $30,000. Osterweis Capital Management Inc. purchased a new position in Fiserv during the 2nd quarter worth approximately $32,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its stake in Fiserv by 49.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 282 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on FISV shares. Stephens initiated coverage on shares of Fiserv in a report on Tuesday, August 11th. They issued an “equal weight” rating and a $57.00 price objective on the stock. Susquehanna reduced their target price on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a report on Friday, August 7th. Oppenheimer downgraded shares of Fiserv from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Fiserv from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Finally, Morgan Stanley upped their price target on shares of Fiserv from $59.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. 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. According to data from MarketBeat.com, Fiserv presently has an average rating of “Hold” and a consensus price target of $63.74.

Fiserv Stock Up 1.0%

Shares of FISV stock opened at $63.52 on Tuesday. Fiserv, Inc. has a twelve month low of $43.87 and a twelve month high of $70.41. The stock has a market cap of $33.78 billion, a P/E ratio of -8.56, a P/E/G ratio of 5.53 and a beta of 0.85. The stock has a 50 day moving average of $49.55 and a 200 day moving average of $54.58. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.22.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data 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. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.85 billion. Fiserv had a positive return on equity of 15.76% and a negative net margin of 18.91%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Fiserv, Inc. will post 7.27 EPS for the current year.

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.