Readystate Asset Management LP Buys 120,885 Shares of Fiserv, Inc. $FISV

Readystate Asset Management LP increased its stake in Fiserv, Inc. (NASDAQ:FISV) by 466.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,782 shares of the business services provider’s stock after buying an additional 120,885 shares during the quarter. Readystate Asset Management LP’s holdings in Fiserv were worth $7,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FISV. Handelsbanken Fonder AB grew its stake in Fiserv by 16.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider’s stock valued at $8,638,000 after buying an additional 25,477 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Fiserv during the fourth quarter worth approximately $1,996,000. Blume Capital Management Inc. bought a new stake in shares of Fiserv during the fourth quarter worth approximately $4,226,000. Ethic Inc. acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $5,795,000. Finally, Mission Wealth Management LP bought a new position in shares of Fiserv during the fourth quarter worth approximately $696,000. 90.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FISV shares. Rothschild & Co Redburn reduced their target price on shares of Fiserv from $50.00 to $40.00 and set a “sell” rating for the company in a research report on Tuesday, May 12th. Morgan Stanley set a $59.00 price objective on shares of Fiserv in a report on Friday, August 7th. UBS Group set a $60.00 target price on shares of Fiserv and gave the stock a “neutral” rating in a report on Friday, August 7th. Wells Fargo & Company set a $56.00 price target on Fiserv and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, Citigroup reissued a “neutral” rating and set a $57.00 price target (down from $60.00) on shares of Fiserv in a research report on Friday, July 10th. Six 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.20.

Insiders Place Their Bets

In other Fiserv news, CFO Paul M. Todd bought 10,060 shares of the firm’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 transaction, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lance M. Fritz bought 10,000 shares of the stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $51.95 per share, with a total value of $519,500.00. Following the purchase, the director owned 27,207 shares of the company’s stock, valued at approximately $1,413,403.65. This represents a 58.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.06% of the company’s stock.

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $53.00 on Monday. The firm has a 50 day moving average of $52.22 and a 200-day moving average of $55.29. The stock has a market capitalization of $28.18 billion, a PE ratio of 10.17, a PEG ratio of 3.99 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv, Inc. has a 12 month low of $47.04 and a 12 month high of $138.62.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.07). The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts predict that Fiserv, Inc. will post 7.26 EPS for the current fiscal year.

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.