Letson Investment Management Inc. Makes New Investment in Fiserv, Inc. $FISV

Letson Investment Management Inc. bought a new stake in Fiserv, Inc. (NASDAQ:FISV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,166 shares of the business services provider’s stock, valued at approximately $9,433,000. Fiserv makes up approximately 3.4% of Letson Investment Management Inc.’s investment portfolio, making the stock its 8th largest position.

Several other hedge funds have also recently bought and sold shares of the business. Vise Technologies Inc. acquired a new stake in shares of Fiserv in the 2nd quarter valued at approximately $2,320,000. Sowell Financial Services LLC increased its stake in Fiserv by 9.7% in the second quarter. Sowell Financial Services LLC now owns 3,540 shares of the business services provider’s stock valued at $610,000 after purchasing an additional 314 shares in the last quarter. Factory Mutual Insurance Co. raised its stake in Fiserv by 11.7% during the 2nd quarter. Factory Mutual Insurance Co. now owns 157,000 shares of the business services provider’s stock worth $27,068,000 after buying an additional 16,500 shares during the period. Dillon & Associates Inc. lifted its holdings in Fiserv by 9.1% during the second quarter. Dillon & Associates Inc. now owns 88,570 shares of the business services provider’s stock worth $15,234,000 after acquiring an additional 7,419 shares in the last quarter. Finally, Ipsen Advisor Group LLC acquired a new position in Fiserv in the second quarter valued at about $759,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Fiserv news, Director Lance M. Fritz acquired 10,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $65.18 per share, for a total transaction of $651,800.00. Following the completion of the purchase, the director directly owned 13,086 shares of the company’s stock, valued at approximately $852,945.48. This represents a 324.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul M. Todd bought 17,000 shares of Fiserv stock in a transaction dated Monday, December 1st. The shares were acquired at an average price of $62.41 per share, with a total value of $1,060,970.00. Following the completion of the purchase, the chief financial officer directly owned 24,453 shares in the company, valued at $1,526,111.73. This trade represents a 228.10% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 34,900 shares of company stock valued at $2,211,971. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Susquehanna reaffirmed a “positive” rating and set a $99.00 price target (down previously from $220.00) on shares of Fiserv in a research report on Wednesday, November 12th. Wolfe Research reaffirmed a “peer perform” rating on shares of Fiserv in a research note on Wednesday, October 29th. Oppenheimer reissued an “outperform” rating and set a $91.00 price objective on shares of Fiserv in a research report on Thursday, October 30th. BNP Paribas Exane restated a “neutral” rating and set a $62.00 price objective on shares of Fiserv in a report on Wednesday, November 5th. Finally, Raymond James Financial set a $167.00 target price on shares of Fiserv and gave the stock an “outperform” rating in a research note on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $114.42.

Fiserv Trading Down 2.4%

Shares of NASDAQ:FISV opened at $65.59 on Monday. The company’s 50-day moving average price is $67.58 and its two-hundred day moving average price is $115.88. Fiserv, Inc. has a one year low of $59.56 and a one year high of $238.59. 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 stock has a market capitalization of $35.65 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. The business 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%. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

About Fiserv

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.