Fiserv, Inc. $FI Holdings Boosted by Palmer Knight Co

Key Points

• Palmer Knight Co has increased its stake in Fiserv, Inc. by 5.1%, now holding 50,186 shares, which are worth approximately $8.65 million.
• Institutional investors own 90.98% of Fiserv's stock, with notable increases from firms like JPMorgan Chase and Assenagon Asset Management in the recent quarters.
• Fiserv's shares have a current consensus rating of "Moderate Buy" among analysts, with a price target of $196.11 despite recent price declines.

Palmer Knight Co boosted its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 3.7% of Palmer Knight Co's investment portfolio, making the stock its 8th largest position. Palmer Knight Co's holdings in Fiserv were worth $8,653,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FI. Nuveen LLC bought a new stake in Fiserv during the 1st quarter worth approximately $1,722,584,000. JPMorgan Chase & Co. raised its stake in Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares during the period. Assenagon Asset Management S.A. raised its stake in Fiserv by 939.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,039,032 shares of the business services provider's stock worth $351,550,000 after acquiring an additional 1,842,784 shares during the period. Swedbank AB raised its stake in Fiserv by 366.0% during the 2nd quarter. Swedbank AB now owns 1,588,747 shares of the business services provider's stock worth $273,916,000 after acquiring an additional 1,247,801 shares during the period. Finally, GQG Partners LLC bought a new stake in Fiserv during the 1st quarter worth approximately $265,769,000. Institutional investors own 90.98% of the company's stock.

Fiserv Trading Up 3.2%

Shares of FI opened at $121.78 on Friday. The company's fifty day moving average is $131.92 and its 200 day moving average is $158.51. Fiserv, Inc. has a fifty-two week low of $117.84 and a fifty-two week high of $238.59. The stock has a market capitalization of $66.20 billion, a PE ratio of 20.33, a P/E/G ratio of 0.79 and a beta of 0.95. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. The company had revenue of $4.32 billion for the quarter. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. Sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FI. Stephens reduced their price objective on shares of Fiserv from $180.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday. KeyCorp reduced their price objective on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $122.00 price objective on shares of Fiserv in a research report on Thursday. Robert W. Baird reduced their price objective on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Finally, Jefferies Financial Group reduced their price objective on shares of Fiserv from $130.00 to $125.00 and set a "hold" rating on the stock in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $196.11.

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.

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