Korea Investment CORP Makes New Investment in Fiserv, Inc. $FISV

Korea Investment CORP bought a new position in shares of Fiserv, Inc. (NASDAQ:FISV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 243,303 shares of the business services provider’s stock, valued at approximately $11,934,000.

Several other hedge funds have also modified their holdings of the business. Stonebridge Capital Advisors LLC raised its position in Fiserv by 2.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 4,318 shares of the business services provider’s stock worth $744,000 after acquiring an additional 98 shares in the last quarter. Bison Wealth LLC grew its stake in shares of Fiserv by 5.3% during the 4th quarter. Bison Wealth LLC now owns 2,299 shares of the business services provider’s stock worth $472,000 after purchasing an additional 116 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in shares of Fiserv by 3.3% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider’s stock valued at $303,000 after purchasing an additional 195 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of Fiserv by 2.9% in the 4th quarter. SkyView Investment Advisors LLC now owns 7,052 shares of the business services provider’s stock valued at $474,000 after purchasing an additional 198 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Fiserv by 10.4% in the first quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 215 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on FISV. Weiss Ratings downgraded shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 12th. JPMorgan Chase & Co. reduced their price target on shares of Fiserv from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Mizuho decreased their price target on Fiserv from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Citigroup reaffirmed 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. Finally, B. Riley Financial reduced their price objective on Fiserv from $69.00 to $66.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $74.20.

Fiserv Stock Performance

Shares of FISV opened at $52.96 on Tuesday. Fiserv, Inc. has a 12-month low of $47.04 and a 12-month high of $139.94. The stock has a market cap of $28.16 billion, a P/E ratio of 10.17, a PEG ratio of 3.95 and a beta of 0.80. 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 company has a 50-day moving average of $51.43 and a two-hundred day moving average of $55.76.

Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, research analysts predict that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Paul M. Todd purchased 10,060 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was bought at an average price of $49.70 per share, with a total value of $499,982.00. Following the completion of the transaction, the chief financial officer owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. This represents a 5.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lance M. Fritz purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $51.95 per share, with a total value of $519,500.00. Following the completion of the acquisition, the director owned 27,207 shares of the company’s stock, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by corporate insiders.

Fiserv 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.