Fiserv, Inc. $FISV Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Fiserv, Inc. (NASDAQ:FISV) during the third quarter, HoldingsChannel.com reports. The fund purchased 136,664 shares of the business services provider’s stock, valued at approximately $6,174,000.

A number of other large investors have also recently made changes to their positions in the stock. Profund Advisors LLC grew its position in shares of Fiserv by 10.8% during the 3rd quarter. Profund Advisors LLC now owns 4,951 shares of the business services provider’s stock valued at $224,000 after acquiring an additional 482 shares during the period. Vise Technologies Inc. increased its stake in shares of Fiserv by 31.6% in the 3rd quarter. Vise Technologies Inc. now owns 12,014 shares of the business services provider’s stock worth $543,000 after purchasing an additional 2,882 shares in the last quarter. Cidel Asset Management Inc. increased its stake in shares of Fiserv by 36.2% in the 3rd quarter. Cidel Asset Management Inc. now owns 11,162 shares of the business services provider’s stock worth $504,000 after purchasing an additional 2,964 shares in the last quarter. State of Wyoming bought a new position in Fiserv in the 3rd quarter worth $59,000. Finally, BOKF NA raised its holdings in Fiserv by 406.0% in the 3rd quarter. BOKF NA now owns 43,453 shares of the business services provider’s stock worth $1,963,000 after purchasing an additional 34,865 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Fiserv Price Performance

FISV stock opened at $62.74 on Friday. Fiserv, Inc. has a one year low of $43.87 and a one year high of $70.41. The company’s fifty day moving average price is $49.14 and its 200-day moving average price is $54.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $33.36 billion, a PE ratio of -8.46, a price-to-earnings-growth ratio of 5.53 and a beta of 0.85.

Fiserv (NASDAQ:FISV) last issued its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.03. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.85 billion. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that Fiserv, Inc. will post 7.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FISV. Zacks Research downgraded Fiserv from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Stephens assumed coverage on Fiserv in a report on Tuesday, August 11th. They set an “equal weight” rating and a $57.00 price target on the stock. Bank of America initiated coverage on Fiserv in a research report on Thursday, October 15th. They issued an “underperform” rating and a $48.00 price objective on the stock. Susquehanna dropped their price objective on Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on Fiserv from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.11.

Fiserv News Roundup

Here are the key news stories impacting Fiserv this week:

• Positive Sentiment: Fiserv reported third-quarter adjusted earnings of $1.75 per share, above the $1.72 analyst consensus. Revenue of $4.85 billion was in line with expectations, though it was down 1.3% year over year. Why Fiserv Stock Triumphed on Tuesday
• Positive Sentiment: Project Elevate and plans to cut 3,000 jobs while doubling the savings target to $1 billion are feeding hopes that management can improve efficiency and restore growth. The turnaround will take time, according to coverage of the results. Fiserv cuts 3,000 jobs and doubles savings target to $1bn
• Positive Sentiment: Several firms raised price targets, including KBW to $70 with an Outperform rating and RBC to $70 with an Outperform rating. Argus also upgraded the stock to Buy with a $72 target. Fiserv Stock Price Target Raised at Keefe, Bruyette & Woods
• Neutral Sentiment: Fiserv added Raj Seshadri to its board, bringing payments and data experience that may support its strategic priorities. Fiserv Adds Raj Seshadri to Board in Payments and Data Push
• Neutral Sentiment: Other analysts lifted targets but kept Hold or Neutral ratings, suggesting they see some recovery potential while remaining cautious about valuation and execution. Fiserv: Hold as Turnaround Progress Is Offset by Limited Upside and Execution Risks
• Negative Sentiment: Fiserv reported a goodwill impairment for the quarter, and the year-over-year revenue decline highlights that operational improvement has not yet translated into renewed top-line growth. Fiserv Reports Goodwill Impairment
• Negative Sentiment: Bank of America Securities maintained a Sell rating, underscoring that not all analysts are convinced the recovery is durable. Bank of America Securities Remains a Sell on Fiserv

Fiserv Profile

Fiserv, Inc is a global financial technology company that provides payment, banking, and commerce solutions to financial institutions, merchants, and other businesses. Its services support electronic payments, card processing, digital banking, account processing, fraud prevention, and related financial workflows.

The company’s offerings include merchant acceptance and payments technology, issuer processing, digital banking platforms, core account-processing systems, electronic bill payment, and data-driven financial services.