Stock Track | Fiserv Soars 6.71% Intraday as Activist Investor Jana Partners Builds Stake

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Fiserv Inc. (FISV) shares surged 6.71% during Tuesday's intraday trading session following reports that activist investor Jana Partners has taken a position in the payments company and is advocating for strategic changes.

According to multiple news reports citing people familiar with the matter, Jana Partners has built a stake in Fiserv and is pushing the company to accelerate growth of its core banking business and conduct a review to exit non-strategic operations. The activist investor believes Fiserv can benefit from a strong spending environment in the banking sector.

Fiserv acknowledged the engagement in a statement, saying: "During the past several months, we have engaged with many of our shareholders, including Jana Partners. We value shareholder perspectives as we drive progress through our One Fiserv action plan." The company's stock has been under significant pressure, declining approximately 74% over the past 12 months prior to today's rally.

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