Palisade Asset Management LLC Has $2.20 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

Palisade Asset Management LLC trimmed its position in Fiserv, Inc. (NYSE:FI) by 18.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,252 shares of the business services provider’s stock after selling 2,750 shares during the quarter. Palisade Asset Management LLC’s holdings in Fiserv were worth $2,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its holdings in Fiserv by 5.9% in the first quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after buying an additional 68 shares during the period. LRI Investments LLC acquired a new position in shares of Fiserv in the 1st quarter valued at $122,000. SVB Wealth LLC boosted its position in shares of Fiserv by 1.6% in the 1st quarter. SVB Wealth LLC now owns 9,982 shares of the business services provider’s stock worth $1,595,000 after purchasing an additional 161 shares during the last quarter. Ascent Group LLC grew its stake in shares of Fiserv by 103.7% during the first quarter. Ascent Group LLC now owns 23,238 shares of the business services provider’s stock worth $3,714,000 after purchasing an additional 11,831 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Fiserv in the first quarter valued at about $4,015,000. 90.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FI shares. StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Tigress Financial boosted their price objective on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased their target price on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen boosted their price target on shares of Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group raised their price objective on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Fiserv Trading Up 1.9 %

NYSE FI opened at $221.56 on Friday. Fiserv, Inc. has a 12 month low of $125.42 and a 12 month high of $222.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $195.77 and a 200-day moving average of $170.75. The company has a market cap of $126.05 billion, a PE ratio of 42.61, a PEG ratio of 1.66 and a beta of 0.92.

Fiserv (NYSE:FI) last announced 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 during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.96 earnings per share. On average, equities research analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were 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 owns 76,180 shares in the company, valued at approximately $15,386,074.60. This trade represents a 34.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,821 shares of company stock worth $44,299,745. Company 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.