Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 1,297,826 Fiserv, Inc. $FISV

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Fiserv, Inc. (NASDAQ:FISV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,297,826 shares of the business services provider’s stock, valued at approximately $63,658,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Fiserv at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new stake in Fiserv in the 4th quarter worth $25,000. Private Wealth Asset Management LLC purchased a new position in Fiserv during the fourth quarter valued at $25,000. Kimelman & Baird LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at about $27,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Fiserv during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Up 0.7%

Shares of FISV opened at $52.08 on Thursday. Fiserv, Inc. has a 12-month low of $47.04 and a 12-month high of $140.42. The firm has a market capitalization of $27.69 billion, a P/E ratio of 10.00, a P/E/G ratio of 3.88 and a beta of 0.80. The firm has a 50-day moving average price of $51.39 and a 200 day moving average price of $55.96. 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 earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). The firm had revenue of $4.96 billion for 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%.The firm’s revenue was down 4.1% compared to the same quarter last year. Sell-side analysts forecast that Fiserv, Inc. will post 7.27 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Barclays set a $52.00 price target on shares of Fiserv and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Loop Capital lowered their price target on shares of Fiserv from $63.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday, May 15th. Rothschild & Co Redburn dropped 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, Cantor Fitzgerald reiterated a “neutral” rating and issued a $53.00 price objective (down from $62.00) on shares of Fiserv in a report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.17.

Insider Activity at Fiserv

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

Fiserv Company 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.