Redwood Grove Capital LLC Purchases New Position in Fiserv, Inc. $FISV

Redwood Grove Capital LLC bought a new position in Fiserv, Inc. (NASDAQ:FISV) in the second quarter, HoldingsChannel reports. The firm bought 257,632 shares of the business services provider’s stock, valued at approximately $12,637,000. Fiserv accounts for 3.2% of Redwood Grove Capital LLC’s holdings, making the stock its 16th largest holding.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in shares of Fiserv in the fourth quarter valued at $3,507,063,000. Dodge & Cox bought a new position in Fiserv during the 4th quarter valued at about $3,323,210,000. BlackRock Inc. purchased a new stake in Fiserv in the 2nd quarter worth about $2,079,711,000. State Street Corp bought a new position in shares of Fiserv during the fourth quarter valued at approximately $1,588,663,000. Finally, Geode Capital Management LLC bought a new position in shares of Fiserv during the fourth quarter valued at approximately $854,215,000. Institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lance M. Fritz bought 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price 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. This trade represents a 58.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Paul M. Todd bought 10,060 shares of Fiserv stock in a transaction on Wednesday, June 17th. The shares were purchased at an average cost of $49.70 per share, with a total value 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. The trade was a 5.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FISV has been the topic of several research analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $57.00 price objective on shares of Fiserv in a research report on Tuesday, August 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $53.00 target price (down from $62.00) on shares of Fiserv in a research report on Wednesday, July 22nd. B. Riley Financial lowered their target price on shares of Fiserv from $69.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods cut their price target on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $54.00 price target on shares of Fiserv in a research note on Friday, August 7th. 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 a consensus price target of $74.20.

Fiserv Trading Down 1.0%

NASDAQ:FISV opened at $52.44 on Wednesday. The stock has a market capitalization of $27.89 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 3.98 and a beta of 0.80. Fiserv, Inc. has a 52 week low of $47.04 and a 52 week high of $138.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $51.49 and a 200 day moving average of $55.71.

Fiserv (NASDAQ:FISV) last released its quarterly 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). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal 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.