Magnetar Financial LLC Acquires New Holdings in Fiserv, Inc. $FISV

Magnetar Financial LLC bought a new position in Fiserv, Inc. (NASDAQ:FISV) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 30,878 shares of the business services provider’s stock, valued at approximately $5,324,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its stake in shares of Fiserv by 3,150.0% in the first quarter. Activest Wealth Management now owns 130 shares of the business services provider’s stock worth $29,000 after buying an additional 126 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Fiserv in the 2nd quarter worth $34,000. Christopher J. Hasenberg Inc raised its holdings in Fiserv by 218.5% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider’s stock worth $36,000 after acquiring an additional 142 shares during the period. Armstrong Advisory Group Inc. lifted its position in Fiserv by 178.9% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider’s stock worth $37,000 after acquiring an additional 136 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in Fiserv during the first quarter valued at about $49,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In other Fiserv news, Director Lance M. Fritz purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average price of $65.18 per share, with a total value of $651,800.00. Following the completion of the transaction, the director directly owned 13,086 shares of the company’s stock, valued at approximately $852,945.48. This trade represents a 324.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on FISV. KeyCorp cut Fiserv from an “overweight” rating to a “hold” rating in a research report on Thursday, October 30th. Truist Financial lowered Fiserv from a “buy” rating to a “hold” rating and cut their price target for the stock from $143.00 to $75.00 in a report on Thursday, October 30th. Royal Bank Of Canada set a $85.00 price objective on Fiserv and gave the company an “outperform” rating in a research report on Thursday, October 30th. Argus reaffirmed a “hold” rating on shares of Fiserv in a research report on Thursday, October 30th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Fiserv from $170.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Eleven research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fiserv has an average rating of “Hold” and an average target price of $123.25.

Fiserv Stock Performance

Shares of NASDAQ FISV opened at $60.84 on Friday. The firm has a market capitalization of $33.07 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.56 and a beta of 0.90. Fiserv, Inc. has a one year low of $59.56 and a one year high of $238.59. The business has a fifty day simple moving average of $104.16 and a 200 day simple moving average of $137.95. The company has a current ratio of 1.08, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The firm had revenue of $4.32 billion for the quarter. Sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current 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.