Toth Financial Advisory Corp Lowers Holdings in Fiserv, Inc. $FISV

Toth Financial Advisory Corp trimmed its holdings in Fiserv, Inc. (NASDAQ:FISV) by 50.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,123 shares of the business services provider’s stock after selling 55,560 shares during the quarter. Toth Financial Advisory Corp’s holdings in Fiserv were worth $2,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FISV. Mufg Securities Americas Inc. boosted its stake in Fiserv by 7.9% during the second quarter. Mufg Securities Americas Inc. now owns 16,061 shares of the business services provider’s stock valued at $788,000 after buying an additional 1,178 shares during the last quarter. Van ECK Associates Corp increased its position in Fiserv by 44.9% during the second quarter. Van ECK Associates Corp now owns 11,369 shares of the business services provider’s stock valued at $558,000 after acquiring an additional 3,523 shares during the last quarter. Nissay Asset Management Corp Japan raised its position in Fiserv by 3.2% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 72,014 shares of the business services provider’s stock worth $3,532,000 after purchasing an additional 2,244 shares during the period. Wellington Management Group LLP lifted its stake in shares of Fiserv by 19.9% during the 2nd quarter. Wellington Management Group LLP now owns 48,170 shares of the business services provider’s stock worth $2,363,000 after acquiring an additional 7,986 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Fiserv during the second quarter valued at $372,000. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling

In other news, CFO Paul M. Todd purchased 10,060 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was purchased at an average cost of $49.70 per share, for a total transaction 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 $9,150,117.90. This trade represents a 5.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lance M. Fritz acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was purchased 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

FISV has been the topic of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $53.00 price objective (down from $62.00) on shares of Fiserv in a research note on Wednesday, July 22nd. Weiss Ratings cut shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 12th. Citigroup reiterated a “neutral” rating and issued a $57.00 price target (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Rothschild & Co Redburn lowered their price objective on shares of Fiserv from $50.00 to $40.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Fiserv from $63.00 to $60.00 in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.20.

Fiserv Stock Performance

NASDAQ FISV opened at $53.18 on Friday. The stock has a 50-day moving average of $51.76 and a 200 day moving average of $55.60. Fiserv, Inc. has a twelve month low of $47.04 and a twelve month high of $138.85. The stock has a market capitalization of $28.28 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 3.96 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.

Fiserv (NASDAQ:FISV) last issued 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). The company had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.Fiserv’s revenue was down 4.1% on a year-over-year basis. Sell-side analysts anticipate that Fiserv, Inc. will post 7.26 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.