Bank of New York Mellon Corp Trims Stake in Fiserv, Inc. $FISV

Bank of New York Mellon Corp cut its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 10.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,049,201 shares of the business services provider’s stock after selling 363,204 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Fiserv worth $393,133,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Fiserv during the 2nd quarter valued at about $1,252,260,000. Amundi lifted its holdings in Fiserv by 27.2% during the second quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock valued at $652,148,000 after purchasing an additional 807,916 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Fiserv by 1.1% in the second quarter. Legal & General Group Plc now owns 3,506,096 shares of the business services provider’s stock worth $604,486,000 after purchasing an additional 39,036 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Fiserv by 3.9% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,921,333 shares of the business services provider’s stock worth $362,128,000 after purchasing an additional 109,427 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Fiserv by 34.7% during the 2nd quarter. Franklin Resources Inc. now owns 2,641,827 shares of the business services provider’s stock valued at $455,478,000 after purchasing an additional 680,743 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insider Activity

In other Fiserv news, insider Adam L. Rosman bought 7,900 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were acquired at an average price of $63.19 per share, with a total value of $499,201.00. Following the transaction, the insider owned 61,285 shares of the company’s stock, valued at approximately $3,872,599.15. This trade represents a 14.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul M. Todd purchased 17,000 shares of the stock in a transaction dated Monday, December 1st. The stock was acquired at an average cost of $62.41 per share, with a total value of $1,060,970.00. Following the transaction, the chief financial officer directly owned 24,453 shares in the company, valued at approximately $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. 1.00% of the stock is owned by corporate insiders.

Fiserv Price Performance

Fiserv stock opened at $63.43 on Friday. 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 cap of $34.48 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. The firm has a 50-day moving average of $66.28 and a two-hundred day moving average of $102.96. Fiserv, Inc. has a 1 year low of $59.56 and a 1 year high of $238.59.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.04 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.60). Fiserv had a return on equity of 19.47% and a net margin of 17.05%.The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the business earned $2.30 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Tigress Financial set a $95.00 target price on shares of Fiserv and gave the stock a “buy” rating in a report on Wednesday, December 31st. Stephens set a $75.00 price target on Fiserv in a research report on Friday, January 16th. Susquehanna restated a “positive” rating and set a $99.00 price objective (down from $220.00) on shares of Fiserv in a research report on Wednesday, November 12th. Oppenheimer reiterated an “outperform” rating and issued a $91.00 target price on shares of Fiserv in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Fiserv in a report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.34.

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.