Harber Asset Management LLC Acquires New Stake in Fiserv, Inc. $FISV

Harber Asset Management LLC bought a new position in Fiserv, Inc. (NASDAQ:FISV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 70,454 shares of the business services provider’s stock, valued at approximately $3,456,000. Fiserv accounts for about 2.1% of Harber Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding.

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

Insider Buying and Selling

In other news, Director Lance M. Fritz purchased 10,000 shares of Fiserv stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, the director 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Paul M. Todd acquired 10,060 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was purchased at an average cost of $49.70 per share, with a total value of $499,982.00. Following the purchase, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is owned by insiders.

Fiserv Price Performance

NASDAQ FISV opened at $52.58 on Friday. The stock’s 50-day moving average price is $51.33 and its two-hundred day moving average price is $55.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a market cap of $27.96 billion, a PE ratio of 10.09, a PEG ratio of 3.86 and a beta of 0.80. Fiserv, Inc. has a 1 year low of $47.04 and a 1 year high of $140.09.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Fiserv, Inc. will post 7.27 EPS for the current year.

Wall Street Analysts Forecast Growth

FISV has been the subject of several research reports. Weiss Ratings lowered shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 12th. TD Cowen dropped their target price on shares of Fiserv from $63.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 7th. Raymond James Financial reissued a “market perform” rating on shares of Fiserv in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Fiserv from $63.00 to $60.00 in a report on Monday, May 11th. Finally, Zacks Research cut Fiserv from a “hold” rating to a “strong sell” rating in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.20.

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.