Connor Clark & Lunn Investment Management Ltd. Makes New $17.78 Million Investment in Fiserv, Inc. $FISV

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 362,419 shares of the business services provider’s stock, valued at approximately $17,777,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Oakworth Capital Inc. bought a new position in shares of Fiserv during the fourth quarter worth about $25,000. Private Wealth Asset Management LLC bought a new stake in Fiserv in the 4th quarter valued at approximately $25,000. Kimelman & Baird LLC bought a new stake in Fiserv in the 4th quarter valued at approximately $27,000. Goodman Advisory Group LLC acquired a new position in Fiserv during the 4th quarter worth approximately $27,000. Finally, Tripletail Wealth Management LLC acquired a new position in Fiserv during the 4th quarter worth approximately $27,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Trading Down 1.0%

Shares of Fiserv stock opened at $52.44 on Wednesday. The stock has a market cap of $27.89 billion, a P/E ratio of 10.07, a P/E/G ratio of 3.98 and a beta of 0.80. 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 12-month low of $47.04 and a 12-month high of $138.85. The business’s 50 day moving average is $51.49 and its 200-day moving average is $55.71.

Fiserv (NASDAQ:FISV) last released its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). The firm 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%. Fiserv’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on FISV shares. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an “equal weight” rating in a report on Thursday, July 9th. Rothschild & Co Redburn reduced their target price on shares of Fiserv from $50.00 to $40.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Fiserv from $63.00 to $60.00 in a research report on Monday, May 11th. Barclays set a $52.00 price target on shares of Fiserv and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Fiserv currently has an average rating of “Hold” and a consensus target price of $74.20.

Insiders Place Their Bets

In other news, CFO Paul M. Todd acquired 10,060 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was bought at an average price of $49.70 per share, with a total value of $499,982.00. Following the transaction, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lance M. Fritz acquired 10,000 shares of the stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the purchase, the director directly owned 27,207 shares in the company, valued at $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.06% of the company’s stock.

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.