Fiserv, Inc. (NYSE:FI) Shares Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lifted its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,958 shares of the business services provider's stock after purchasing an additional 2,596 shares during the quarter. Fiserv comprises approximately 1.4% of Palumbo Wealth Management LLC's portfolio, making the stock its 19th biggest position. Palumbo Wealth Management LLC's holdings in Fiserv were worth $4,186,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FI. American National Bank & Trust raised its position 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 worth $18,956,000 after acquiring an additional 1,983 shares in the last quarter. Evercore Wealth Management LLC purchased a new position in shares of Fiserv in the 4th quarter valued at about $54,981,000. Union Bancaire Privee UBP SA purchased a new position in shares of Fiserv in the 4th quarter valued at about $11,330,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Fiserv in the fourth quarter valued at about $127,000. Finally, BankPlus Trust Department purchased a new stake in Fiserv during the fourth quarter worth about $1,453,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider now owns 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president now owns 25,385 shares of the company's stock, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Wall Street Zen started coverage on Fiserv in a report on Sunday, March 23rd. They set a "buy" rating for the company. BMO Capital Markets dropped their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Finally, Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price for the company. in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Fiserv currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.23.

Fiserv Trading Up 1.3%

Shares of NYSE FI traded up $2.24 during midday trading on Tuesday, hitting $172.78. The stock had a trading volume of 6,877,579 shares, compared to its average volume of 3,324,480. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The company has a market capitalization of $95.79 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.06 and a beta of 0.90. The company has a fifty day moving average price of $175.60 and a 200 day moving average price of $201.16.

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

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.