Palouse Capital Management Inc. Decreases Stock Holdings in Fiserv, Inc. (NYSE:FI)

Palouse Capital Management Inc. decreased its holdings in shares of Fiserv, Inc. (NYSE:FI) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,590 shares of the business services provider’s stock after selling 453 shares during the period. Palouse Capital Management Inc.’s holdings in Fiserv were worth $1,723,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Norden Group LLC purchased a new position in shares of Fiserv during the 1st quarter worth approximately $2,359,000. ORG Partners LLC boosted its position in shares of Fiserv by 3,016.0% during the second quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after purchasing an additional 3,197 shares in the last quarter. ZRC Wealth Management LLC purchased a new stake in Fiserv in the first quarter worth $32,000. Park Place Capital Corp raised its holdings in Fiserv by 66.3% in the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock worth $1,259,000 after purchasing an additional 2,794 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Fiserv by 377.3% during the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock valued at $9,047,000 after buying an additional 44,776 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FI has been the subject of a number of recent research reports. Susquehanna lifted their price target on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research report on Friday. BTIG Research initiated coverage on shares of Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 target price for the company. Oppenheimer began coverage on Fiserv in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Fiserv from $176.00 to $199.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group boosted their price target on Fiserv from $160.00 to $195.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.92.

Insider Transactions at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP John Gibbons sold 18,890 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,890 shares of company stock valued at $32,855,417. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Trading Down 0.3 %

Shares of FI traded down $0.61 during trading hours on Monday, reaching $196.68. 1,692,297 shares of the company traded hands, compared to its average volume of 2,463,080. The firm has a market cap of $115.08 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.44 and a beta of 0.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $198.86. The stock’s fifty day moving average price is $177.05 and its 200 day moving average price is $161.21.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current year.

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.