The Manufacturers Life Insurance Company Takes $25.48 Million Position in Fiserv, Inc. $FISV

The Manufacturers Life Insurance Company acquired a new position in Fiserv, Inc. (NASDAQ:FISV) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 519,487 shares of the business services provider’s stock, valued at approximately $25,481,000.

Several other large investors have also bought and sold shares of the company. Dodge & Cox acquired a new stake in Fiserv during the fourth quarter valued at approximately $3,323,210,000. BlackRock Inc. bought a new stake in shares of Fiserv during the 2nd quarter worth $2,079,711,000. State Street Corp acquired a new position in shares of Fiserv in the 4th quarter worth $1,588,663,000. Geode Capital Management LLC acquired a new stake in shares of Fiserv during the fourth quarter worth $854,215,000. Finally, Amundi acquired a new position in shares of Fiserv in the fourth quarter worth about $825,819,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of Fiserv stock opened at $52.58 on Friday. The stock has a market capitalization of $27.96 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 3.95 and a beta of 0.80. Fiserv, Inc. has a 1-year low of $47.04 and a 1-year high of $138.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $51.65 and a 200-day simple moving average of $55.62.

Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (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 net margin of 13.42% and a return on equity of 15.80%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Rothschild & Co Redburn lowered their price target on Fiserv from $50.00 to $40.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Robert W. Baird set a $78.00 price target on shares of Fiserv in a research report on Wednesday, May 6th. Citigroup reiterated a “neutral” rating and issued a $57.00 price objective (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Cantor Fitzgerald restated a “neutral” rating and set a $53.00 price target (down from $62.00) on shares of Fiserv in a report on Wednesday, July 22nd. Finally, Loop Capital cut their price objective on Fiserv from $63.00 to $62.00 and set a “hold” rating for the company in a report on Friday, May 15th. Six equities research 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 company. Based on data from MarketBeat, Fiserv presently has an average rating of “Hold” and an average target price of $74.20.

Fiserv Company 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.