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

Palmer Knight Co raised its stake in Fiserv, Inc. (NYSE:FI) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,928 shares of the business services provider’s stock after purchasing an additional 80 shares during the quarter. Fiserv accounts for 3.5% of Palmer Knight Co’s investment portfolio, making the stock its 16th biggest holding. Palmer Knight Co’s holdings in Fiserv were worth $7,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new position in Fiserv during the 4th quarter worth $5,885,279,000. Capital World Investors purchased a new position in shares of Fiserv during the 4th quarter worth approximately $2,329,623,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $960,592,000. Veritas Asset Management LLP purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $927,298,000. Finally, Parnassus Investments LLC acquired a new position in Fiserv during the fourth quarter worth $900,674,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FI. StockNews.com cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. B. Riley increased their target price on Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp upped their target price on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.32.

Insider Activity

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The disclosure for this sale can be found here. In the last three months, insiders sold 93,690 shares of company stock worth $14,833,215. 0.75% of the stock is currently owned by insiders.

Fiserv Stock Down 0.1 %

FI traded down $0.23 during trading hours on Friday, reaching $172.28. 151,016 shares of the stock traded hands, compared to its average volume of 2,459,063. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $175.47. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $100.80 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.41 and a beta of 0.93. The firm’s fifty day simple moving average is $160.87 and its two-hundred day simple moving average is $154.84.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 earnings per share. As a group, analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

About Fiserv

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.