Quantitative Investment Management LLC Purchases 16,001 Shares of Fiserv, Inc. $FISV

Quantitative Investment Management LLC increased its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 103.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,453 shares of the business services provider’s stock after buying an additional 16,001 shares during the quarter. Quantitative Investment Management LLC’s holdings in Fiserv were worth $1,542,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wedbush Securities Inc. grew its position in Fiserv by 5.7% in the 2nd quarter. Wedbush Securities Inc. now owns 5,394 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 293 shares during the period. Hennessy Advisors Inc. lifted its position in shares of Fiserv by 14.3% during the second quarter. Hennessy Advisors Inc. now owns 8,000 shares of the business services provider’s stock valued at $392,000 after purchasing an additional 1,000 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Fiserv by 5.1% in the 2nd quarter. New Mexico Educational Retirement Board now owns 26,816 shares of the business services provider’s stock worth $1,315,000 after buying an additional 1,300 shares during the last quarter. Mufg Securities Americas Inc. increased its position in shares of Fiserv by 7.9% during the second quarter. Mufg Securities Americas Inc. now owns 16,061 shares of the business services provider’s stock valued at $788,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Fiserv by 44.9% during the second quarter. Van ECK Associates Corp now owns 11,369 shares of the business services provider’s stock valued at $558,000 after acquiring an additional 3,523 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James Financial reaffirmed a “market perform” rating on shares of Fiserv in a research report on Tuesday, July 7th. B. Riley Financial decreased their price objective on shares of Fiserv from $69.00 to $66.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Barclays set a $52.00 price objective on shares of Fiserv and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $53.00 target price on shares of Fiserv in a research note on Monday. Finally, Citigroup reissued a “neutral” rating and set a $57.00 target price (down from $60.00) on shares of Fiserv in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.20.

Insider Buying and Selling

In other news, CFO Paul M. Todd bought 10,060 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average price of $49.70 per share, with a total value of $499,982.00. Following the acquisition, the chief financial officer 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lance M. Fritz bought 10,000 shares of the stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the purchase, the director directly 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 company insiders.

Fiserv Stock Performance

NASDAQ:FISV opened at $53.31 on Tuesday. The business’s fifty day moving average is $51.88 and its 200 day moving average is $55.50. The firm has a market cap of $28.35 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 4.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $138.85.

Fiserv (NASDAQ:FISV) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The business’s quarterly revenue was down 4.1% on a year-over-year basis. Research analysts predict that Fiserv, Inc. will post 7.26 EPS for the current 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.