Paralel Advisors LLC Buys Shares of 41,408 Fiserv, Inc. $FISV

Paralel Advisors LLC purchased a new position in Fiserv, Inc. (NASDAQ:FISV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 41,408 shares of the business services provider’s stock, valued at approximately $2,031,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in FISV. Handelsbanken Fonder AB raised its holdings in shares of Fiserv by 16.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider’s stock valued at $8,638,000 after buying an additional 25,477 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Fiserv in the fourth quarter worth approximately $1,996,000. Blume Capital Management Inc. bought a new position in Fiserv during the fourth quarter valued at approximately $4,226,000. Ethic Inc. bought a new position in Fiserv during the fourth quarter valued at approximately $5,795,000. Finally, Mission Wealth Management LP purchased a new position in shares of Fiserv during the fourth quarter worth approximately $696,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

NASDAQ:FISV opened at $53.00 on Monday. 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 fifty-two week low of $47.04 and a fifty-two week high of $138.62. The firm has a market cap of $28.18 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 3.99 and a beta of 0.80. The business has a 50 day moving average price of $52.22 and a 200-day moving average price of $55.29.

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). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

FISV has been the subject of a number of recent research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $53.00 price objective on shares of Fiserv in a report on Monday, August 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $54.00 target price on shares of Fiserv in a research report 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 for the company in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Fiserv from $63.00 to $60.00 in a research report on Monday, May 11th. Finally, Wells Fargo & Company set a $56.00 price objective on Fiserv and gave the company an “equal weight” rating in a research note on Thursday, July 9th. 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. According to MarketBeat.com, Fiserv presently has an average rating of “Hold” and an average target price of $74.20.

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.