Melvin Capital Management LP recently announced the acquisition of new stake in Fiserv Inc. (NASDAQ:FISV). The institutional investor has increased its shareholding in the Technology company by 262.81% to 8.34 million shares with purchase of 6.04 million shares. This fresh investment now brings its stake to 1.25% valued currently at $832.72 million. In addition, Goldman Sachs & Co. LLC (Private.. raised its holdings by 1.42 million to 7.77 million shares.
With over 4.22 million Fiserv Inc. (FISV) shares trading Tuesday and a closing price of $99.37 on the day, the dollar volume was approximately $419.25 million. The shares have shown a positive weekly performance of 1.15% and its price on 09/01/20 lost nearly -0.21%. Currently, there are 670.00M common shares owned by the public and among those 560.95M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 36 analysts who have offered their price forecasts for FISV have a consensus price objective of $125.41. The analysts have set the share’s price value over the next 12 months at a high of $157.00 and a low of $96.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Fiserv Inc. stock is 1.90 for the next 12 months. The average price target is 20.76% above its last price level and an upside to the estimated low will see the stock lose -3.51% over that period. But an upside of 36.71% will see the stock hit the forecast high price target while mean target price for the stock is $125.00.
Insiders at the company have transacted a total of 144 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 1,191,481 shares. Insider sales of the common stock occurred on 114 occasions, with total insider shares sold totaling 1,720,941 shares.
The top 3 mutual fund holders in Fiserv Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and T Rowe Price Blue Chip Growth Fun. Vanguard Total Stock Market Index owns 16.18 million shares of the company’s stock, all valued at over $1.61 billion. The company sold 33725.0 shares recently to bring their total holdings to about 2.42% of the shares outstanding. Vanguard 500 Index Fund sold 69626.0 shares to see its total holdings shrink to 11.6 million shares valued at over $1.16 billion and representing 1.73% of the shares outstanding. T Rowe Price Blue Chip Growth Fun sold 40879.0 shares to bring its total holdings to over 9.62 million shares at a value of $959.61 million. T Rowe Price Blue Chip Growth Fun now owns shares totaling to 1.44% of the shares outstanding.
Shares of Fiserv Inc. (NASDAQ: FISV) opened at $99.44, down -$0.14 from a prior closing price of $99.58. However, the script later closed the day at $99.37, down -0.21%. The company’s stock has a 5-day price change of 1.15% and -8.70% over the past three months. FISV shares are trading -14.06% year to date (YTD), with the 12-month market performance down to -6.11% lower. It has a 12-month low price of $73.50 and touched a high of $125.05 over the same period. Currently, 4.22 million shares have been traded, compared to an average intraday trading volume of 4.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.02%, 0.15%, and -6.24% respectively.
Institutional ownership of Fiserv Inc. (NASDAQ: FISV) shares accounts for 94.70% of the company’s 670.00M shares outstanding. Mutual fund holders own 37.51%, while other institutional holders and individual stakeholders account for 40.12% and 3.48% respectively.
It has a market capitalization of $65.77B and a beta (3y monthly) value of 0.80. The stock’s trailing 12-month PE ratio is 79.05, while the earnings-per-share (ttm) stands at $1.26. The company has a PEG of 4.59 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.85% over the week and 2.71% over the month.
Analysts forecast that Fiserv Inc. (FISV) will achieve an EPS of $1.16 for the current quarter, $1.32 for the next quarter and $5.38 for 2021. The lowest estimate earnings-per-share for the quarter is $1.05 while analysts give the company a high EPS estimate of $1.22. Comparatively, EPS for the current quarter was $1.02 a year ago. Earnings per share for the fiscal year are expected to decrease by -41.40%, and 22.32% over the next financial year. EPS should grow at an annualized rate of 17.22% over the next five years, compared to 2.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 36 brokerage firm advisors rate Fiserv Inc. (FISV) as a “Strong Buy” at a consensus score of 1.90. Specifically, 25 Wall Street analysts polled rate the stock as a buy, while 6 of the 36 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FISV, a number of firms have released research notes about the stock. Mizuho stated their Buy rating for the stock in a research note on August 27, 2020, with the firm’s price target at $145. Bernstein coverage for the Fiserv Inc. (FISV) stock in a research note released on August 19, 2020 offered a Mkt Perform rating with a price target of $104. Goldman was of a view on July 14, 2020 that the stock is Buy, while Oppenheimer gave the stock Perform rating on June 29, 2020, issuing a price target of. Oppenheimer on their part issued Outperform rating on June 01, 2020.