Palumbo Wealth Management LLC Acquires 321 Shares of Fiserv, Inc. (NYSE:FI)

Palumbo Wealth Management LLC boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.2% during the third quarter, Holdings Channel reports. The fund owned 14,761 shares of the business services provider’s stock after acquiring an additional 321 shares during the period. Fiserv makes up approximately 1.0% of Palumbo Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Palumbo Wealth Management LLC’s holdings in Fiserv were worth $2,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC bought a new position in Fiserv in the first quarter valued at about $25,000. Family Firm Inc. acquired a new stake in shares of Fiserv during the 2nd quarter worth approximately $31,000. Clean Yield Group raised its stake in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after buying an additional 138 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in Fiserv in the first quarter valued at approximately $32,000. Finally, Cedar Mountain Advisors LLC boosted its stake in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

FI has been the subject of several recent research reports. BMO Capital Markets increased their price target on Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. BTIG Research assumed coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 target price on the stock. UBS Group raised their target price on Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Tigress Financial upped their price target on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Four 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 stock has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Fiserv Stock Down 0.1 %

FI stock traded down $0.10 during midday trading on Thursday, hitting $199.71. The company’s stock had a trading volume of 209,603 shares, compared to its average volume of 2,467,717. The company’s fifty day moving average price is $182.64 and its 200 day moving average price is $163.72. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.06. Fiserv, Inc. has a twelve month low of $113.11 and a twelve month high of $204.50. The stock has a market capitalization of $113.62 billion, a P/E ratio of 38.42, a PEG ratio of 1.53 and a beta of 0.93.

Fiserv (NYSE:FI) last released its earnings results 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. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. Fiserv’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 earnings per share. As a group, equities research analysts predict that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Activity

In other news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related 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 value of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the transaction, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,890 shares of company stock valued at $40,934,217. 0.75% of the stock is owned by insiders.

Fiserv 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.