Fiserv, Inc. $FI is Palmer Knight Co’s 8th Largest Position

Palmer Knight Co grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.1% in the second quarter, Holdings Channel reports. The firm owned 50,186 shares of the business services provider’s stock after acquiring an additional 2,445 shares during the period. Fiserv accounts for approximately 3.7% of Palmer Knight Co’s holdings, making the stock its 8th largest position. Palmer Knight Co’s holdings in Fiserv were worth $8,653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Rappaport Reiches Capital Management LLC boosted its stake in shares of Fiserv by 3.9% during the first quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 48 shares during the period. E Fund Management Co. Ltd. raised its holdings in shares of Fiserv by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 1,463 shares of the business services provider’s stock valued at $323,000 after acquiring an additional 55 shares in the last quarter. Oakworth Capital Inc. raised its holdings in shares of Fiserv by 5.6% in the first quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider’s stock valued at $235,000 after acquiring an additional 56 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Fiserv by 6.4% in the first quarter. SBI Securities Co. Ltd. now owns 935 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 56 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Fiserv by 0.3% in the first quarter. Pinnacle Associates Ltd. now owns 16,794 shares of the business services provider’s stock valued at $3,709,000 after acquiring an additional 57 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Trading Up 3.2%

Fiserv stock opened at $121.78 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a 12 month low of $117.84 and a 12 month high of $238.59. The stock’s 50 day simple moving average is $131.92 and its two-hundred day simple moving average is $158.51. The firm has a market cap of $66.20 billion, a PE ratio of 20.33, a P/E/G ratio of 0.79 and a beta of 0.95.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a return on equity of 19.69% and a net margin of 16.00%.The business had revenue of $4.32 billion for the quarter. Analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analyst Weigh In

FI has been the subject of several recent research reports. Susquehanna decreased their price objective on Fiserv from $240.00 to $220.00 and set a “positive” rating for the company in a report on Thursday, July 24th. Raymond James Financial set a $167.00 target price on shares of Fiserv and gave the stock an “outperform” rating in a report on Friday, October 10th. BTIG Research set a $180.00 target price on shares of Fiserv and gave the stock a “buy” rating in a report on Friday. TD Cowen reduced their target price on shares of Fiserv from $188.00 to $177.00 and set a “buy” rating for the company in a report on Friday. Finally, KeyCorp dropped their target price on Fiserv from $250.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and an average price target of $196.11.

About Fiserv

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.