Mirae Asset Global Investments Co. Ltd. Raises Stake in Fiserv, Inc. $FISV

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fiserv, Inc. (NASDAQ:FISV) by 13.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,937 shares of the business services provider’s stock after purchasing an additional 10,139 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Fiserv were worth $10,693,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Fiserv during the 2nd quarter valued at $1,252,260,000. Marshall Wace LLP acquired a new position in shares of Fiserv during the second quarter worth about $356,643,000. Worldquant Millennium Advisors LLC boosted its position in shares of Fiserv by 2,134.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 993,068 shares of the business services provider’s stock worth $171,215,000 after buying an additional 948,634 shares during the period. Baupost Group LLC MA acquired a new stake in shares of Fiserv in the second quarter valued at about $154,307,000. Finally, Amundi raised its holdings in shares of Fiserv by 27.2% during the 2nd quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock valued at $652,148,000 after buying an additional 807,916 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

FISV opened at $63.73 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.08 and a current ratio of 1.08. Fiserv, Inc. has a 1-year low of $59.56 and a 1-year high of $238.59. The company has a 50-day moving average of $66.34 and a 200-day moving average of $102.25. The company has a market capitalization of $34.64 billion, a P/E ratio of 9.85, a PEG ratio of 3.63 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.60). Fiserv had a return on equity of 19.47% and a net margin of 17.05%.The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business posted $2.30 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insider Activity at Fiserv

In other Fiserv news, CFO Paul M. Todd acquired 17,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was purchased at an average price of $62.41 per share, with a total value of $1,060,970.00. Following the completion of the acquisition, the chief financial officer directly owned 24,453 shares in the company, valued at $1,526,111.73. This trade represents a 228.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Adam L. Rosman bought 7,900 shares of the stock in a transaction on Tuesday, December 2nd. The shares were acquired at an average price of $63.19 per share, with a total value of $499,201.00. Following the purchase, the insider owned 61,285 shares of the company’s stock, valued at $3,872,599.15. The trade was a 14.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FISV has been the subject of a number of analyst reports. Sanford C. Bernstein cut Fiserv from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $205.00 to $80.00 in a report on Thursday, October 30th. BTIG Research lowered shares of Fiserv from a “buy” rating to a “neutral” rating in a report on Wednesday, October 29th. Stephens set a $75.00 price objective on shares of Fiserv in a report on Friday, January 16th. Citigroup lowered their target price on Fiserv from $128.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Finally, Cantor Fitzgerald upgraded Fiserv to a “hold” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fiserv has a consensus rating of “Hold” and an average price target of $113.34.

Fiserv 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.