Bank of Nova Scotia Grows Stock Holdings in Fiserv, Inc. $FISV

Bank of Nova Scotia lifted its stake in Fiserv, Inc. (NASDAQ:FISV) by 203.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,016 shares of the business services provider’s stock after purchasing an additional 141,467 shares during the quarter. Bank of Nova Scotia’s holdings in Fiserv were worth $36,381,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Fiserv in the second quarter worth $1,252,260,000. Marshall Wace LLP purchased a new position in shares of Fiserv in the 2nd quarter worth about $356,643,000. Assenagon Asset Management S.A. boosted its stake in Fiserv by 939.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,039,032 shares of the business services provider’s stock worth $351,550,000 after purchasing an additional 1,842,784 shares in the last quarter. Swedbank AB grew its position in Fiserv by 366.0% during the 2nd quarter. Swedbank AB now owns 1,588,747 shares of the business services provider’s stock valued at $273,916,000 after purchasing an additional 1,247,801 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in Fiserv during the 1st quarter valued at about $265,769,000. Institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

FISV has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Fiserv from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. B. Riley cut Fiserv from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group lowered Fiserv from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $149.00 to $79.00 in a report on Thursday, October 30th. Keefe, Bruyette & Woods decreased their target price on Fiserv from $170.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Finally, Compass Point cut shares of Fiserv from a “strong-buy” rating to a “neutral” rating and set a $127.50 target price on the stock. in a research note on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $121.08.

Insider Transactions at Fiserv

In other news, Director Lance M. Fritz bought 10,000 shares of Fiserv stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $65.18 per share, with a total value of $651,800.00. Following the acquisition, the director owned 13,086 shares of the company’s stock, valued at $852,945.48. The trade was a 324.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam L. Rosman purchased 7,900 shares of the stock in a transaction on Tuesday, December 2nd. The shares were purchased at an average cost of $63.19 per share, for a total transaction of $499,201.00. Following the acquisition, the insider directly owned 61,285 shares of the company’s stock, valued at approximately $3,872,599.15. This represents a 14.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 34,900 shares of company stock valued at $2,211,971 over the last quarter. 0.75% of the stock is currently owned by company insiders.

Fiserv Trading Down 0.8%

Shares of FISV stock opened at $65.73 on Tuesday. Fiserv, Inc. has a 1 year low of $59.56 and a 1 year high of $238.59. The firm has a fifty day moving average price of $89.22 and a 200-day moving average price of $128.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $35.73 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.55 and a beta of 0.80.

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