Palisade Capital Management LP Sells 2,684 Shares of Fiserv, Inc. (NYSE:FI)

Palisade Capital Management LP trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,428 shares of the business services provider's stock after selling 2,684 shares during the period. Palisade Capital Management LP's holdings in Fiserv were worth $24,607,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FI. American National Bank & Trust lifted its holdings in Fiserv by 2.4% in the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock valued at $18,956,000 after buying an additional 1,983 shares during the period. Evercore Wealth Management LLC bought a new stake in shares of Fiserv in the 4th quarter valued at about $54,981,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $127,000. M&T Bank Corp grew its holdings in Fiserv by 0.9% during the fourth quarter. M&T Bank Corp now owns 141,654 shares of the business services provider's stock valued at $29,099,000 after purchasing an additional 1,194 shares during the period. Finally, Norges Bank bought a new stake in Fiserv in the fourth quarter valued at approximately $1,406,452,000. Institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FI shares. Redburn Atlantic reissued a "sell" rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Mizuho set a $200.00 price objective on Fiserv in a research report on Thursday, May 15th. Jefferies Financial Group dropped their target price on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Susquehanna cut their price target on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Finally, Royal Bank Of Canada set a $237.00 price objective on shares of Fiserv in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $221.23.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president directly owned 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the transaction, the insider directly owned 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv Stock Performance

FI traded up $3.10 during trading hours on Friday, reaching $175.55. The company's stock had a trading volume of 2,211,394 shares, compared to its average volume of 3,352,892. The company's 50-day moving average is $170.87 and its 200-day moving average is $199.68. Fiserv, Inc. has a 52 week low of $146.46 and a 52 week high of $238.59. The firm has a market cap of $97.33 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 1.07 and a beta of 0.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The company's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 EPS 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.