Meeder Advisory Services Inc. Purchases New Stake in Fiserv, Inc. $FISV

Meeder Advisory Services Inc. purchased a new stake in shares of Fiserv, Inc. (NASDAQ:FISV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,638 shares of the business services provider’s stock, valued at approximately $571,000.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Fiserv during the second quarter worth about $688,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Fiserv in the second quarter valued at about $497,000. MidFirst Bank purchased a new stake in shares of Fiserv during the 2nd quarter valued at about $65,000. Paladin Partners LLC acquired a new position in Fiserv during the 2nd quarter worth approximately $74,000. Finally, BlackRock Inc. acquired a new position in Fiserv during the 2nd quarter worth approximately $2,079,711,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Trading Down 1.3%

NASDAQ FISV opened at $51.38 on Friday. Fiserv, Inc. has a 12 month low of $47.04 and a 12 month high of $140.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $27.32 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 3.91 and a beta of 0.80. The company’s fifty day moving average price is $51.36 and its two-hundred day moving average price is $55.87.

Fiserv (NASDAQ:FISV) last released its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.04 billion. Fiserv’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts predict that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Paul M. Todd acquired 10,060 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were purchased at an average price 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 represents a 5.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lance M. Fritz bought 10,000 shares of Fiserv stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Fiserv from $63.00 to $60.00 in a research report on Monday, May 11th. Loop Capital lowered their price target on shares of Fiserv from $63.00 to $62.00 and set a “hold” rating for the company in a report on Friday, May 15th. Stephens reaffirmed an “equal weight” rating and set a $57.00 price target on shares of Fiserv in a research note on Tuesday, August 11th. JPMorgan Chase & Co. cut their price objective on shares of Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Finally, Robert W. Baird set a $78.00 price objective on shares of Fiserv in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.