Provident Investment Management Inc. Buys 74,237 Shares of Fiserv, Inc. $FISV

Provident Investment Management Inc. increased its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 35.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 284,107 shares of the business services provider’s stock after purchasing an additional 74,237 shares during the period. Fiserv accounts for 4.2% of Provident Investment Management Inc.’s investment portfolio, making the stock its 12th largest position. Provident Investment Management Inc. owned about 0.05% of Fiserv worth $48,983,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Fiserv in the second quarter valued at approximately $1,252,260,000. Marshall Wace LLP purchased a new stake in Fiserv in the 2nd quarter worth approximately $356,643,000. Assenagon Asset Management S.A. boosted its holdings in Fiserv by 939.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,039,032 shares of the business services provider’s stock valued at $351,550,000 after purchasing an additional 1,842,784 shares during the period. Swedbank AB grew its position in shares of Fiserv by 366.0% during the 2nd quarter. Swedbank AB now owns 1,588,747 shares of the business services provider’s stock valued at $273,916,000 after purchasing an additional 1,247,801 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings 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 purchasing an additional 948,634 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FISV. Compass Point lowered Fiserv from a “strong-buy” rating to a “neutral” rating and set a $127.50 price objective for the company. in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $85.00 price target on Fiserv and gave the company an “outperform” rating in a research report on Thursday, October 30th. Wells Fargo & Company upgraded shares of Fiserv to a “hold” rating in a research report on Wednesday, October 22nd. Susquehanna reaffirmed a “positive” rating and issued a $99.00 target price (down from $220.00) on shares of Fiserv in a research note on Wednesday, November 12th. Finally, UBS Group set a $75.00 price target on shares of Fiserv and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.08.

Insider Activity

In related news, CFO Paul M. Todd bought 17,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was bought at an average cost of $62.41 per share, for a total transaction of $1,060,970.00. Following the acquisition, the chief financial officer directly owned 24,453 shares of the company’s stock, valued at $1,526,111.73. The trade was a 228.10% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam L. Rosman purchased 7,900 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was bought at an average cost of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the purchase, the insider directly owned 61,285 shares in the company, valued at approximately $3,872,599.15. This trade represents a 14.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 34,900 shares of company stock valued at $2,211,971. 1.00% of the stock is currently owned by insiders.

Fiserv Trading Up 0.9%

FISV stock opened at $68.75 on Friday. The company has a market capitalization of $37.37 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 2.65 and a beta of 0.80. 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 one year low of $59.56 and a one year high of $238.59. The company’s 50 day moving average price is $84.45 and its two-hundred day moving average price is $126.34.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $4.32 billion during the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. As a group, analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.