Varma Mutual Pension Insurance Co Makes New Investment in Fiserv, Inc. $FISV

Varma Mutual Pension Insurance Co acquired a new position in shares of Fiserv, Inc. (NASDAQ:FISV) during the second quarter, Holdings Channel reports. The institutional investor acquired 13,200 shares of the business services provider’s stock, valued at approximately $647,000.

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

Insider Buying and Selling

In other news, Director Lance M. Fritz purchased 10,000 shares of the stock in a transaction dated Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, with a total value of $519,500.00. Following the completion of the purchase, the director directly 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul M. Todd purchased 10,060 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at $9,150,117.90. This represents a 5.78% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup reissued a “neutral” rating and set a $57.00 target price (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Truist Financial set a $53.00 price target on Fiserv and gave the company a “hold” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price target (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. Susquehanna lowered their price target on Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, August 7th. Finally, Wells Fargo & Company set a $56.00 price objective on Fiserv and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Fiserv presently has an average rating of “Hold” and an average price target of $74.20.

Fiserv Price Performance

Shares of NASDAQ FISV opened at $52.58 on Monday. The firm has a market cap of $27.96 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 3.95 and a beta of 0.80. The company’s 50-day simple moving average is $51.33 and its 200-day simple moving average is $55.80. 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 52-week low of $47.04 and a 52-week high of $140.09.

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