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

Palisade Asset Management LLC lessened its holdings in Fiserv, Inc. (NYSE:FI) by 18.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,252 shares of the business services provider’s stock after selling 2,750 shares during the period. Palisade Asset Management LLC’s holdings in Fiserv were worth $2,201,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of Fiserv by 3,016.0% during the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock worth $486,000 after acquiring an additional 3,197 shares in the last quarter. Maxwell Wealth Strategies Inc. boosted its position in Fiserv by 23.6% during the third quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock worth $2,696,000 after purchasing an additional 2,869 shares during the period. Park Place Capital Corp grew its holdings in Fiserv by 66.3% during the third quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after purchasing an additional 2,794 shares during the last quarter. Radnor Capital Management LLC bought a new position in shares of Fiserv in the third quarter valued at approximately $1,543,000. Finally, BDF Gestion bought a new position in shares of Fiserv in the second quarter valued at approximately $2,981,000. 90.98% of the stock is currently owned by institutional investors.

Insider Transactions at Fiserv

In other news, CEO Frank Bisignano sold 145,000 shares of the 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 sale, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,821 shares of company stock valued at $44,299,745. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE:FI opened at $221.56 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The business’s fifty day moving average price is $195.77 and its two-hundred day moving average price is $170.75. Fiserv, Inc. has a fifty-two week low of $125.42 and a fifty-two week high of $222.05. The stock has a market capitalization of $126.05 billion, a price-to-earnings ratio of 42.61, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their price target on Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Wells Fargo & Company boosted their price objective on Fiserv from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Susquehanna raised their target price on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $214.29.

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.