Jana Partners intensified pressure on Fiserv in a July 30 letter to the board. The activist investor demands a comprehensive review of the company's entire asset portfolio. Jana advocates for a holistic strategic assessment instead of selling individual assets piecemeal.
The hedge fund has been a shareholder since late 2025. Jana also demanded changes to the board of directors to address persistent governance issues. The firm cited management turnover and significant stock underperformance as reasons for the review.
A broad review aims to close the gap between market price and intrinsic asset value.