Trajan Wealth LLC has reduced its holdings in Fiserv, Inc. (NASDAQ:FISV) by 6.5% during the third quarter of 2023, according to a report from Holdings Channel. After selling 12,254 shares, the firm now owns 175,024 shares of the financial services technology provider. This adjustment positions Fiserv as approximately 1.0% of Trajan Wealth’s total portfolio, making it the firm’s 26th largest holding. As of the end of the latest reporting period, Trajan Wealth’s investment in Fiserv was valued at around $22.57 million.
The shift comes as several other institutional investors have also re-evaluated their positions in Fiserv. For instance, Pinnacle Wealth Management Advisory Group LLC increased its stake by 2.8% during the second quarter, now holding 2,811 shares valued at $485,000. Similarly, Quadcap Wealth Management LLC raised its holdings by 2.1%, now owning 3,900 shares worth approximately $672,000. Other notable adjustments include Strategic Blueprint LLC, which grew its position by 4.4%, and Glenview Trust Co, which increased its stake by 0.3%.
Market Performance and Analyst Outlook
As of Monday, Fiserv’s shares opened at $61.47. The company maintains a current ratio of 1.03, a quick ratio of 1.03, and a debt-to-equity ratio of 1.08. Over the past year, Fiserv has experienced significant fluctuations, with a 12-month low of $57.79 and a high of $238.59. The firm’s market capitalization stands at approximately $32.87 billion, with a price-to-earnings (P/E) ratio of 9.70.
Several financial analysts have weighed in on Fiserv’s outlook. Royal Bank of Canada set a price objective of $85.00 on the stock, assigning an “outperform” rating in a note dated October 30, 2023. In contrast, Compass Point lowered its price target from $78.00 to $75.00, while JPMorgan Chase & Co. adjusted its target from $85.00 to $75.00 as well. Currently, out of the analysts covering the stock, ten have issued a Buy rating, twenty-four have assigned a Hold rating, and two have issued a Sell rating, leading to a consensus rating of “Hold” and a price target of $110.16.
Insider Transactions Highlight Stakeholder Confidence
In addition to institutional movements, insider transactions have also been notable at Fiserv. Chief Financial Officer Paul M. Todd purchased 17,000 shares on December 1, 2023, at an average cost of $62.41 per share, amounting to a total investment of approximately $1.06 million. Following this acquisition, Todd now holds 24,453 shares valued at around $1.53 million, reflecting a significant increase of 228.10% in his position.
Furthermore, insider Adam L. Rosman acquired 7,900 shares on December 2, 2023, at an average price of $63.19 per share, totaling about $499,201. After this transaction, Rosman’s holdings increased to 61,285 shares, valued at approximately $3.87 million, marking a 14.80% increase in his stake.
Corporate insiders hold 0.75% of Fiserv’s stock, indicating a level of confidence among company leadership despite broader market uncertainties.
Founded in 1984 and headquartered in Brookfield, Wisconsin, Fiserv is a global leader in financial services technology. The company specializes in integrated solutions for payments, processing, risk and compliance, and customer management. With a diverse client base including banks, credit unions, and retailers, Fiserv is positioned to continue its relevance in an evolving financial landscape.
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