AGF Management Ltd. Raises Stock Holdings in Fiserv, Inc. $FISV

AGF Management Ltd. raised its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 55.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,524 shares of the business services provider’s stock after buying an additional 69,383 shares during the period. AGF Management Ltd.’s holdings in Fiserv were worth $25,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FISV. Norges Bank bought a new position in Fiserv during the 2nd quarter valued at approximately $1,252,260,000. Marshall Wace LLP purchased a new position in shares of Fiserv during the second quarter valued at approximately $356,643,000. Worldquant Millennium Advisors LLC raised its holdings in shares of Fiserv by 2,134.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 993,068 shares of the business services provider’s stock valued at $171,215,000 after acquiring an additional 948,634 shares in the last quarter. Baupost Group LLC MA purchased a new stake in Fiserv in the second quarter worth $154,307,000. Finally, Amundi boosted its holdings in Fiserv by 27.2% in the second quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock valued at $652,148,000 after acquiring an additional 807,916 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Adam L. Rosman purchased 7,900 shares of Fiserv stock in a transaction dated Tuesday, December 2nd. The stock was purchased at an average cost of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the acquisition, the insider directly owned 61,285 shares of the company’s stock, valued at $3,872,599.15. The trade was a 14.80% increase in their ownership of the stock. The acquisition was disclosed in a 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 bought 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 owned 24,453 shares in the company, valued at $1,526,111.73. The trade was a 228.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FISV. Stephens set a $75.00 price objective on shares of Fiserv in a report on Friday, January 16th. Seaport Research Partners downgraded shares of Fiserv from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Morgan Stanley downgraded Fiserv from an “overweight” rating to an “equal weight” rating and set a $81.00 target price on the stock. in a report on Friday, November 14th. Wells Fargo & Company upgraded Fiserv to a “hold” rating in a research note on Wednesday, October 22nd. Finally, William Blair lowered Fiserv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fiserv has an average rating of “Hold” and a consensus price target of $113.34.

Fiserv Stock Performance

Fiserv stock opened at $62.94 on Tuesday. Fiserv, Inc. has a twelve month low of $59.56 and a twelve month high of $238.59. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $34.21 billion, a P/E ratio of 9.73, a PEG ratio of 3.65 and a beta of 0.80. The stock’s 50 day moving average is $66.38 and its 200 day moving average is $100.63.

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.