Activist Jana Pushes Fiserv for Portfolio Review, Board Refresh

Activist investor Jana Partners has taken a stake in financial technology firm Fiserv and is urging the company to conduct a comprehensive review of its entire portfolio and refresh its board of directors, according to people familiar with the matter.

Jana, known for pushing for strategic changes at underperforming companies, believes that Fiserv's sprawling portfolio may contain non-core assets that could be divested to unlock shareholder value. The hedge fund also wants new independent directors with relevant expertise to be added to the board.

Fiserv, a major player in payments and financial services technology, has grown through acquisitions over the years. The company's stock has lagged some peers, making it a target for activist investors seeking to improve operational focus and capital allocation.

The push from Jana adds to growing activist pressure on large-cap fintech firms. A portfolio review could lead to asset sales, spin-offs, or other restructuring moves, though Fiserv's management has not publicly responded to the demands yet.