Four insiders, including the company’s Chief Administrative and Legal Officer and three directors, purchased more than 21,761 shares of Fiserv in the open market.
- Adam Rosman, Fiserv’s Chief Administrative and Legal Officer, made the largest purchase, buying 10,150 shares for about $500,700 on Tuesday.
- New CEO Takis Georgakopoulos and CFO Paul Todd received 50,094 and 104,363 in equity awards, respectively.
- Earlier on Tuesday, Fiserv announced cash tender offers for up to $2.75 billion of outstanding debt.
Shares of Fiserv (FISV) gained more than 1.5% in overnight trading headed into Wednesday after the company disclosed insider purchases totaling more than $1 million and launched cash tender offers for up to $2.75 billion of outstanding debt.
According to a series of filings with the U.S. Securities and Exchange Commission (SEC), the company’s Chief Administrative and Legal Officer and directors purchased more than 21,761 shares in the open market for a total value of about $1,073,698.
The disclosures were made shortly after the company announced an unexpected leadership change on Monday, after CEO Mike Lyons left the payments technology company.
FISV: Insider Transactions
According to Form 4 filings, Adam Rosman, the Chief Administrative and Legal Officer at the company, purchased 10,150 shares at a price of $49.33 per share, investing a total of about $500,700 on Tuesday. Following the transaction, Rosman now owns 136,724 shares of FISV.
Gordon Nixon, a director, purchased 7,500 shares of FISV at $49.57, investing about $371,775. Another director, Charlotte Yarkoni, bought 2,023 shares in the open market priced at $49.49 per share, investing a total of $100,143. Director Harry DiSimone also bought 2,088 shares at $48.41 a piece, investing a total of about $101,080.
The series of purchases reinforces insider confidence in the company following the leadership changes.
Separately, new CEO Takis Georgakopoulos and CFO Paul Todd received 50,094 and 104,363 as equity awards.
FISV Debt Repurchase
Earlier on Tuesday, Fiserv announced cash tender offers for up to $2.75 billion of outstanding debt, seeking to repurchase all of its 5.150% Senior Notes due 2027 and 4.400% Senior Notes due 2049.
The notes have approximately $750 million and $2 billion outstanding, respectively. The initiative aims to refine the company's debt profile and enhance capital structure efficiency, with the offers set to expire on June 23, 2026.
FISV CEO Departure
Fiserv announced on Monday that CEO Mike Lyons would step down from the company immediately to lead Truist Financial, a move that sent shockwaves and led to an 11% plunge in the company's share price.
The firm appointed Georgakopoulos, Co-President and Head of Merchant Solutions and Technology, to take over as CEO and join the board. Analysts said the abrupt transition introduced additional uncertainty, weighing on investor sentiment.
FISV: Retail Stance
On Stocktwits, retail sentiment around FISV was in the ‘extremely bullish’ territory amid ‘extremely high’ message volumes at the time of writing.
One bullish user said they were adding to their position following the insider buys.
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Another user predicted the company’s shares would double to $100 by the end of the year as it was “way undervalued.”
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FISV stock is down about 24% so far this year.
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