Connor Clark & Lunn Investment Management Ltd. Takes $17.78 Million Position in Fiserv, Inc. $FISV

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Fiserv, Inc. (NASDAQ:FISV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 362,419 shares of the business services provider’s stock, valued at approximately $17,777,000. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Fiserv as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FISV. Oakworth Capital Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $25,000. Private Wealth Asset Management LLC acquired a new position in Fiserv in the fourth quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new position in Fiserv in the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC bought a new position in Fiserv in the fourth quarter valued at approximately $27,000. Finally, Tripletail Wealth Management LLC acquired a new stake in Fiserv during the 4th quarter worth $27,000. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FISV. B. Riley Financial cut their price target on Fiserv from $69.00 to $66.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings cut Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on Fiserv from $63.00 to $60.00 in a report on Monday, May 11th. Barclays set a $52.00 target price on Fiserv and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Stephens restated an “equal weight” rating and set a $57.00 target price on shares of Fiserv in a research report on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Fiserv currently has an average rating of “Hold” and an average target price of $74.20.

Insider Transactions at Fiserv

In other Fiserv news, CFO Paul M. Todd acquired 10,060 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the acquisition, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lance M. Fritz acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the acquisition, the director directly owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.

Fiserv Price Performance

FISV opened at $52.44 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv, Inc. has a 12 month low of $47.04 and a 12 month high of $138.85. The company has a fifty day simple moving average of $51.49 and a 200 day simple moving average of $55.71. The stock has a market cap of $27.89 billion, a P/E ratio of 10.07, a P/E/G ratio of 3.98 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data 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 return on equity of 15.80% and a net margin of 13.42%.The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. The firm’s revenue was down 4.1% on a year-over-year basis. On average, research analysts expect that Fiserv, Inc. will post 7.27 EPS for the current year.

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.