Meeder Asset Management Inc. Invests $688,000 in Fiserv, Inc. $FISV

Meeder Asset Management Inc. bought a new stake in shares of Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,023 shares of the business services provider’s stock, valued at approximately $688,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FISV. Oakworth Capital Inc. purchased a new position in shares of Fiserv during the 4th quarter valued at about $25,000. Private Wealth Asset Management LLC bought a new stake in Fiserv during the 4th quarter worth approximately $25,000. Kimelman & Baird LLC purchased a new position in Fiserv during the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC purchased a new position in Fiserv during the fourth quarter valued at approximately $27,000. Finally, Tripletail Wealth Management LLC bought a new position in shares of Fiserv in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price target (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Loop Capital lowered their price objective on Fiserv from $63.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday, May 15th. UBS Group set a $60.00 target price on Fiserv and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Morgan Stanley set a $59.00 target price on Fiserv in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.17.

Insiders Place Their Bets

In other news, Director Lance M. Fritz purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were bought 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 of the company’s stock, valued at approximately $1,413,403.65. This trade represents a 58.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul M. Todd acquired 10,060 shares of Fiserv stock in a transaction that occurred on Wednesday, June 17th. The stock was purchased at an average cost 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 $9,150,117.90. This trade represents a 5.78% 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 company insiders.

Fiserv Stock Down 0.9%

Shares of FISV stock opened at $51.72 on Wednesday. The company’s fifty day simple moving average is $51.42 and its two-hundred day simple moving average is $56.04. Fiserv, Inc. has a 52 week low of $47.04 and a 52 week high of $140.42. The stock has a market cap of $27.50 billion, a P/E ratio of 9.93, a PEG ratio of 4.09 and a beta of 0.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV) last issued its 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 during 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 for the quarter was down 4.1% compared to the same quarter last year. Analysts predict that Fiserv, Inc. will post 7.27 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.