Palmer Knight Co Cuts Stake in Fiserv, Inc. (NYSE:FI)

Palmer Knight Co cut its holdings in Fiserv, Inc. (NYSE:FI) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,402 shares of the business services provider’s stock after selling 526 shares during the period. Fiserv makes up 3.8% of Palmer Knight Co’s investment portfolio, making the stock its 7th biggest holding. Palmer Knight Co’s holdings in Fiserv were worth $8,695,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FI. Wellington Shields & Co. LLC bought a new position in shares of Fiserv in the first quarter valued at approximately $25,000. Family Firm Inc. acquired a new position in Fiserv in the 2nd quarter valued at $31,000. Clean Yield Group raised its holdings in Fiserv by 431.3% in the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after acquiring an additional 138 shares during the period. Cedar Mountain Advisors LLC lifted its position in Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after acquiring an additional 57 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 127 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Down 1.1 %

Shares of NYSE:FI opened at $208.87 on Friday. The company’s fifty day moving average is $185.93 and its 200-day moving average is $165.66. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. Fiserv, Inc. has a 52 week low of $118.42 and a 52 week high of $211.98. The company has a market capitalization of $118.83 billion, a PE ratio of 40.17, a P/E/G ratio of 1.54 and a beta of 0.92.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FI shares. BMO Capital Markets lifted their price objective on Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group lifted their price target on Fiserv from $188.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. KeyCorp raised their price objective on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.25.

Insider Buying and Selling

In other Fiserv news, 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 value of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now directly owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 257,890 shares of company stock worth $46,968,117 in the last three months. 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.