Palmer Knight Co Sells 526 Shares of Fiserv, Inc. (NYSE:FI)

Palmer Knight Co decreased its position in Fiserv, Inc. (NYSE:FI) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 portfolio, making the stock its 7th largest position. Palmer Knight Co’s holdings in Fiserv were worth $8,695,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC bought a new stake in shares of Fiserv in the first quarter worth about $25,000. Family Firm Inc. acquired a new stake in Fiserv during the 2nd quarter worth approximately $31,000. Clean Yield Group boosted its holdings in shares of Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after buying an additional 138 shares during the period. Cedar Mountain Advisors LLC increased its position in shares of Fiserv by 42.5% during the third 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 in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE FI opened at $208.87 on Friday. The stock has a market cap of $118.83 billion, a PE ratio of 40.17, a P/E/G ratio of 1.54 and a beta of 0.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a 50-day moving average of $185.93 and a 200-day moving average of $165.66. Fiserv, Inc. has a 52-week low of $118.42 and a 52-week high of $211.98.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the business posted $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Activity at Fiserv

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the 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 transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were 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 directly owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,890 shares of company stock worth $46,968,117 in the last ninety days. 0.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FI shares. Tigress Financial increased their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. KeyCorp increased their price objective on Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Citigroup lifted their price objective on shares of Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price target on shares of Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.25.

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.