Activist investor Jana Partners builds stake in Fiserv, WSJ reports

Feb 17 (Reuters) - Activist investor Jana Partners has built a stake in Fiserv FISV.O and is pressing the payments company to pursue steps to lift its lagging share price, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

The size of Jana's stake, and whether the activist investor intends to seek board seats at Fiserv could not be determined, the report said.

Shares of the company were up 6.5% in premarket trading. The stock slumped more than 67% in 2025 and has declined nearly 12% year to date, as of last close. Fiserv's market capitalization stood at $31.93 billion, based on the stock's last closing price, according to LSEG data.

Jana Partners did not immediately respond to Reuters' request for comment. The report said Jana believes the payments firm is poised to benefit from a strong spending environment for banks.

The activist investor wants Fiserv to speed up the expansion of its core banking business and launch a strategic review that could include shedding non‑core operations, the report added.

"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," Fiserv said in a statement.

The One Fiserv action plan was announced late last year to prioritize and enhance client focus and build on the company's strengths. Jana supports the plan, according to the Journal.

"Our current performance is not where we want it to be nor where our stakeholders expect it to be," CEO Mike Lyons had said at the time.

The firm conducted an extensive review last year and Lyons has since emphasized the need to strengthen forecasting rigor and reduce reliance on short-term growth initiatives.

Fiserv expects 2026 to be a transitional year, as it invests in key strategic areas to fix gaps and improve client service.