Palmer Knight Co Has $8.21 Million Holdings in Fiserv, Inc. $FISV

Palmer Knight Co boosted its stake in Fiserv, Inc. (NASDAQ:FISV) by 26.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 63,692 shares of the business services provider’s stock after buying an additional 13,506 shares during the quarter. Fiserv accounts for approximately 3.9% of Palmer Knight Co’s portfolio, making the stock its 9th biggest position. Palmer Knight Co’s holdings in Fiserv were worth $8,212,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Fiserv during the second quarter valued at about $1,252,260,000. Amundi increased its stake in Fiserv by 27.2% in the 2nd quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock valued at $652,148,000 after buying an additional 807,916 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Fiserv by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 3,506,096 shares of the business services provider’s stock worth $604,486,000 after buying an additional 39,036 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Fiserv by 3.9% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,921,333 shares of the business services provider’s stock worth $362,128,000 after buying an additional 109,427 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Fiserv by 34.7% in the 2nd quarter. Franklin Resources Inc. now owns 2,641,827 shares of the business services provider’s stock worth $455,478,000 after buying an additional 680,743 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NASDAQ FISV opened at $63.73 on Monday. The firm has a market cap of $34.64 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 3.65 and a beta of 0.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average is $66.34 and its 200-day moving average is $101.36. Fiserv, Inc. has a 12-month low of $59.56 and a 12-month high of $238.59.

Insiders Place Their Bets

In related news, CFO Paul M. Todd purchased 17,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was purchased at an average cost of $62.41 per share, with a total value of $1,060,970.00. Following the completion of the acquisition, the chief financial officer directly owned 24,453 shares of the company’s stock, valued at approximately $1,526,111.73. The trade was a 228.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam L. Rosman acquired 7,900 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were bought at an average price of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the purchase, the insider owned 61,285 shares in the company, valued at $3,872,599.15. This trade represents a 14.80% increase in their position. The SEC filing for this purchase provides additional information. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FISV shares. Compass Point downgraded Fiserv from a “strong-buy” rating to a “neutral” rating and set a $127.50 price target for the company. in a research report on Wednesday, October 29th. Zacks Research raised Fiserv from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $85.00 target price on shares of Fiserv in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft set a $122.00 price target on shares of Fiserv in a report on Thursday, October 16th. Finally, UBS Group set a $75.00 price objective on shares of Fiserv and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fiserv has a consensus rating of “Hold” and an average price target of $113.34.

Fiserv Profile

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.