Palmer Knight Co Takes Position in Fiserv, Inc. (NYSE:FI)

Palmer Knight Co purchased a new stake in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 47,690 shares of the business services provider’s stock, valued at approximately $6,335,000. Fiserv comprises 3.8% of Palmer Knight Co’s investment portfolio, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hollencrest Capital Management grew its position in Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock worth $26,000 after buying an additional 100 shares in the last quarter. West Oak Capital LLC bought a new position in Fiserv during the fourth quarter worth about $27,000. Halpern Financial Inc. bought a new position in Fiserv during the fourth quarter worth about $27,000. Fortitude Family Office LLC bought a new position in Fiserv during the fourth quarter worth about $28,000. Finally, Glass Jacobson Investment Advisors llc bought a new position in Fiserv during the fourth quarter worth about $31,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on FI. KeyCorp raised their price target on shares of Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. StockNews.com began coverage on shares of Fiserv in a research note on Saturday, February 3rd. They set a “buy” rating for the company. B. Riley raised their price target on shares of Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Evercore ISI reiterated an “outperform” rating and issued a $185.00 target price on shares of Fiserv in a research note on Tuesday, March 26th. Finally, TD Cowen lifted their target price on shares of Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.33.

Fiserv Stock Down 0.9 %

NYSE FI traded down $1.34 on Monday, reaching $154.55. The company had a trading volume of 723,379 shares, compared to its average volume of 2,542,878. The firm has a market capitalization of $90.43 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The company’s fifty day moving average is $152.54 and its 200-day moving average is $138.07.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the business posted $1.58 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $149.53, for a total value of $3,588,720.00. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,477,911.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 111,575 shares of company stock worth $17,022,387. Insiders own 0.75% of the company’s stock.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.