Fiserv, Inc. $FISV Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its holdings in shares of Fiserv, Inc. (NASDAQ:FISV) by 23.5% in the third quarter, Holdings Channel.com reports. The fund owned 235,847 shares of the business services provider’s stock after selling 72,597 shares during the quarter. Welch & Forbes LLC’s holdings in Fiserv were worth $10,656,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. M&G PLC grew its holdings in shares of Fiserv by 612.3% in the third quarter. M&G PLC now owns 315,602 shares of the business services provider’s stock worth $14,202,000 after purchasing an additional 271,292 shares during the last quarter. AlphaCore Capital LLC purchased a new position in Fiserv in the 3rd quarter worth about $384,000. Leuthold Group LLC purchased a new position in Fiserv in the 3rd quarter worth about $519,000. Private Management Group Inc. bought a new stake in Fiserv during the 3rd quarter valued at about $32,572,000. Finally, Fulcrum Asset Management LLP lifted its holdings in Fiserv by 2,675.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 159,241 shares of the business services provider’s stock valued at $7,223,000 after buying an additional 153,504 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

FISV opened at $63.52 on Tuesday. The company has a market capitalization of $33.78 billion, a price-to-earnings ratio of -8.56, a PEG ratio of 5.53 and a beta of 0.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.22. Fiserv, Inc. has a 12-month low of $43.87 and a 12-month high of $70.41. The business’s fifty day simple moving average is $49.55 and its 200-day simple moving average is $54.58.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.03. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.85 billion. Fiserv had a positive return on equity of 15.76% and a negative net margin of 18.91%. Fiserv’s revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. B. Riley Financial reissued a “neutral” rating and issued a $60.00 price objective (up from $51.00) on shares of Fiserv in a research report on Wednesday, November 4th. Weiss Ratings lowered shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 21st. Truist Financial set a $51.00 target price on shares of Fiserv and gave the stock a “hold” rating in a research report on Friday, October 23rd. Royal Bank Of Canada lifted their price target on shares of Fiserv from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, November 4th. Finally, Argus upgraded Fiserv from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.74.

Fiserv Company Profile

Fiserv is a financial technology company that provides payment and financial services technology to banks, credit unions, businesses and merchants. Its offerings include payment processing, digital banking, account processing, debit and credit card services, and tools that help financial institutions manage customer accounts and transactions.

For merchants, Fiserv offers Clover, a platform that combines point-of-sale hardware and software with payment acceptance and business management tools.