Palouse Capital Management Inc. Has $1.50 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Palouse Capital Management Inc. cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,043 shares of the business services provider’s stock after selling 198 shares during the period. Palouse Capital Management Inc.’s holdings in Fiserv were worth $1,497,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FI. Price T Rowe Associates Inc. MD acquired a new position in shares of Fiserv in the fourth quarter valued at about $5,885,279,000. Capital World Investors bought a new stake in Fiserv in the 4th quarter valued at about $2,329,623,000. Veritas Asset Management LLP acquired a new position in shares of Fiserv during the 4th quarter worth approximately $927,298,000. Parnassus Investments LLC bought a new position in shares of Fiserv during the fourth quarter worth approximately $900,674,000. Finally, Northern Trust Corp bought a new stake in shares of Fiserv in the fourth quarter valued at approximately $784,200,000. Institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,890 shares of company stock valued at $10,853,407. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

Fiserv stock opened at $175.23 on Thursday. The business has a 50 day moving average of $165.19 and a 200-day moving average of $156.39. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $176.76. The company has a market capitalization of $102.53 billion, a P/E ratio of 32.75, a P/E/G ratio of 1.38 and a beta of 0.93.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts predict that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on FI shares. StockNews.com lowered Fiserv from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. KeyCorp boosted their price target on Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their price objective on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley upgraded shares of Fiserv from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $154.00 to $175.00 in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.32.

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.