Scopia Capital Management LP Takes $32.45 Million Position in Fiserv, Inc. (NASDAQ:FISV)

Scopia Capital Management LP acquired a new stake in shares of Fiserv, Inc. (NASDAQ:FISV) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 272,604 shares of the business services provider’s stock, valued at approximately $32,451,000. Fiserv accounts for approximately 4.0% of Scopia Capital Management LP’s investment portfolio, making the stock its 9th largest position.

Several other large investors have also bought and sold shares of FISV. FIL Ltd boosted its position in shares of Fiserv by 33.4% during the 4th quarter. FIL Ltd now owns 453,969 shares of the business services provider’s stock valued at $51,689,000 after purchasing an additional 113,622 shares in the last quarter. Eaton Vance Management boosted its position in shares of Fiserv by 0.6% during the 4th quarter. Eaton Vance Management now owns 658,509 shares of the business services provider’s stock valued at $74,978,000 after purchasing an additional 4,003 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Fiserv by 24.0% during the 4th quarter. Penserra Capital Management LLC now owns 1,302 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 252 shares in the last quarter. Vantage Consulting Group Inc purchased a new stake in Fiserv during the fourth quarter valued at about $26,000. Finally, Brown Advisory Inc. lifted its stake in Fiserv by 52.4% during the fourth quarter. Brown Advisory Inc. now owns 10,882 shares of the business services provider’s stock valued at $1,239,000 after buying an additional 3,743 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

FISV has been the subject of a number of analyst reports. Truist lowered shares of Fiserv from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Monday, June 7th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on shares of Fiserv from $115.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, April 22nd. Truist Securities lowered shares of Fiserv from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Monday, June 7th. Wells Fargo & Company upped their price objective on shares of Fiserv from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Finally, Rosenblatt Securities upped their price objective on shares of Fiserv from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $132.16.

In related news, insider Byron C. Vielehr sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $109.63, for a total value of $1,096,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Byron C. Vielehr sold 5,000 shares of the firm’s stock in a transaction on Friday, June 18th. The stock was sold at an average price of $107.84, for a total value of $539,200.00. Following the completion of the transaction, the insider now directly owns 75,877 shares of the company’s stock, valued at $8,182,575.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,015,000 shares of company stock worth $2,708,735,500. 1.60% of the stock is currently owned by corporate insiders.

FISV stock traded down $0.54 during midday trading on Thursday, hitting $109.50. 113,559 shares of the company traded hands, compared to its average volume of 3,554,284. Fiserv, Inc. has a twelve month low of $92.15 and a twelve month high of $127.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.64. The firm’s 50 day simple moving average is $110.81. The company has a market cap of $73.01 billion, a PE ratio of 85.31, a price-to-earnings-growth ratio of 1.26 and a beta of 0.89.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.80 billion. Fiserv had a return on equity of 9.56% and a net margin of 5.86%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. Research analysts anticipate that Fiserv, Inc. will post 5.44 earnings per share for the current fiscal year.

Fiserv Profile

Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance; Financial Technology; Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world. The Financial Technology segment provides financial institutions with financial institutions with the technology solutions need to run operations including products and services that enable financial institutions to process customer deposit and loan accounts.

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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