Fiserv (FISV) Jumps Over 6% as Activist Investor Gobbles Stake

We recently published 10 Stocks Outperforming With Monstrous Gains. Fiserv Inc. (NASDAQ:FISV) was one of the best performers on Tuesday.

Fiserv grew its share prices by 6.89 percent on Tuesday to finish at $63.45 apiece as investors mirrored an activist group’s acquisition of a significant stake in a bid to boost share value.

An exclusive report by the Wall Street Journal said that activist investor Jana Partners gobbled up shares in Fiserv Inc. (NASDAQ:FISV) as it eyes to push operational changes, including the review and exit of businesses that are not contributing to the company’s growth trajectory.

The size of the transaction, however, was not divulged.

Fiserv Inc. (NASDAQ:FISV) CEO Mike Lyons also earned the backing of the investment firm over his plans to improve execution and reshuffle the board of directors.

In a statement to WSJ, a spokesperson from Fiserv Inc. (NASDAQ:FISV) said that the company has engaged with many of its shareholders during the past several months, including Jana Partners, noting that it values shareholder perspectives as it drives progress through its One Fiserv action plan.

Jana Partners has been privately urging the financial technology firm to focus on accelerating growth in its core banking business, as it believes that it could largely capitalize on strong spending trends in the banking sector.

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Disclosure: None. This article is originally published at Insider Monkey.