Palumbo Wealth Management LLC Has $2.65 Million Holdings in Fiserv, Inc. (NYSE:FI)

Palumbo Wealth Management LLC grew its holdings in Fiserv, Inc. (NYSE:FI) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,761 shares of the business services provider’s stock after purchasing an additional 321 shares during the period. Fiserv comprises 1.0% of Palumbo Wealth Management LLC’s portfolio, making the stock its 26th largest holding. Palumbo Wealth Management LLC’s holdings in Fiserv were worth $2,652,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FI. Bessemer Group Inc. lifted its position in Fiserv by 67.2% in the 1st quarter. Bessemer Group Inc. now owns 3,251,722 shares of the business services provider’s stock worth $519,690,000 after buying an additional 1,306,901 shares in the last quarter. Capital World Investors increased its stake in shares of Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock worth $3,011,031,000 after acquiring an additional 1,303,078 shares during the last quarter. Maj Invest Holding A S purchased a new stake in shares of Fiserv during the third quarter worth $172,993,000. Manning & Napier Advisors LLC acquired a new stake in Fiserv during the second quarter valued at $105,031,000. Finally, American Century Companies Inc. grew its stake in Fiserv by 1,642.5% in the second quarter. American Century Companies Inc. now owns 500,239 shares of the business services provider’s stock valued at $74,556,000 after purchasing an additional 471,531 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $27,005,424.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,890 shares of company stock worth $40,934,217. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

FI has been the subject of a number of recent research reports. Mizuho raised their price target on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. UBS Group raised their price objective on shares of Fiserv from $185.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price objective on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $207.25.

Fiserv Stock Performance

Fiserv stock traded down $0.10 during trading hours on Thursday, hitting $199.71. The stock had a trading volume of 209,603 shares, compared to its average volume of 2,467,717. Fiserv, Inc. has a fifty-two week low of $113.11 and a fifty-two week high of $204.50. The company has a market cap of $113.62 billion, a PE ratio of 38.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The company has a 50-day moving average of $182.64 and a two-hundred day moving average of $163.72. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last issued its 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 business had revenue of $5.22 billion during 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 period in the prior 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.

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.