Madison Asset Management LLC Invests $5.42 Million in Fiserv, Inc. $FISV

Madison Asset Management LLC bought a new position in shares of Fiserv, Inc. (NASDAQ:FISV) in the second quarter, Holdings Channel.com reports. The fund bought 110,600 shares of the business services provider’s stock, valued at approximately $5,425,000.

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

Analyst Ratings Changes

Several brokerages have recently commented on FISV. UBS Group set a $60.00 target price on Fiserv and gave the company a “neutral” rating in a research note on Friday, August 7th. Stephens reiterated an “equal weight” rating and issued a $57.00 price target on shares of Fiserv in a report on Tuesday, August 11th. Rothschild & Co Redburn reduced their price objective on Fiserv from $50.00 to $40.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. TD Cowen decreased their price objective on Fiserv from $63.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 7th. Finally, Barclays set a $52.00 target price on Fiserv and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.17.

Insider Activity

In other news, CFO Paul M. Todd acquired 10,060 shares of Fiserv stock in a transaction on Wednesday, June 17th. The stock was acquired at an average cost of $49.70 per share, with a total value of $499,982.00. Following the transaction, the chief financial officer owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lance M. Fritz bought 10,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is currently owned by insiders.

Fiserv Trading Up 0.7%

NASDAQ FISV opened at $52.08 on Thursday. The firm has a market capitalization of $27.69 billion, a P/E ratio of 10.00, a PEG ratio of 3.88 and a beta of 0.80. The business has a fifty day simple moving average of $51.39 and a 200 day simple moving average of $55.96. Fiserv, Inc. has a 12 month low of $47.04 and a 12 month high of $140.42. 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 posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts predict that Fiserv, Inc. will post 7.27 EPS 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.