Canada Pension Plan Investment Board Purchases New Position in Fiserv, Inc. $FISV

Canada Pension Plan Investment Board acquired a new stake in Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 898,102 shares of the business services provider’s stock, valued at approximately $44,052,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Dodge & Cox acquired a new position in Fiserv during the 4th quarter worth approximately $3,323,210,000. BlackRock Inc. acquired a new position in shares of Fiserv during the second quarter worth $2,079,711,000. State Street Corp purchased a new position in shares of Fiserv in the fourth quarter valued at $1,588,663,000. Geode Capital Management LLC acquired a new stake in Fiserv during the 4th quarter valued at $854,215,000. Finally, Amundi purchased a new stake in Fiserv during the 4th quarter worth $825,819,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.2%

Shares of Fiserv stock opened at $52.58 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The firm has a market cap of $27.96 billion, a P/E ratio of 10.09, a P/E/G ratio of 3.95 and a beta of 0.80. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $138.85. The business has a 50-day moving average price of $51.65 and a 200 day moving average price of $55.62.

Fiserv (NASDAQ:FISV) last released its earnings results 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). The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The firm’s revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Fiserv, Inc. will post 7.26 earnings per share for the current fiscal year.

Insider Activity at Fiserv

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

Analyst Ratings Changes

A number of research firms have weighed in on FISV. Robert W. Baird set a $78.00 price objective on shares of Fiserv in a research report on Wednesday, May 6th. Mizuho reduced their price target on Fiserv from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Zacks Research downgraded Fiserv from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Susquehanna cut their target price on Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, August 7th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $55.00 price target (down from $60.00) on shares of Fiserv in a research note on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.20.

About Fiserv

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.