Palouse Capital Management Inc. Acquires New Holdings in Fiserv, Inc. (NYSE:FI)

Palouse Capital Management Inc. acquired a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, Holdings Channel.com reports. The firm acquired 10,866 shares of the business services provider’s stock, valued at approximately $1,443,000.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Fiserv by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock worth $5,705,241,000 after buying an additional 789,232 shares during the period. State Street Corp increased its position in Fiserv by 4.1% in the 1st quarter. State Street Corp now owns 25,700,156 shares of the business services provider’s stock worth $2,904,889,000 after buying an additional 1,022,653 shares during the period. Geode Capital Management LLC increased its position in Fiserv by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 12,421,876 shares of the business services provider’s stock worth $1,400,906,000 after buying an additional 149,811 shares during the period. Morgan Stanley increased its position in Fiserv by 131.3% in the 4th quarter. Morgan Stanley now owns 9,980,646 shares of the business services provider’s stock worth $1,008,744,000 after buying an additional 5,666,145 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Fiserv by 14.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,606,698 shares of the business services provider’s stock worth $833,435,000 after buying an additional 817,660 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Trading Up 1.2 %

NYSE FI traded up $1.72 on Friday, reaching $148.63. The company had a trading volume of 2,515,094 shares, compared to its average volume of 2,512,931. The stock’s 50 day moving average is $151.81 and its 200-day moving average is $136.35. The stock has a market cap of $87.51 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 1.20 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $159.99.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.04. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts predict that Fiserv, Inc. will post 8.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FI shares. Evercore ISI restated an “outperform” rating and set a $185.00 price objective on shares of Fiserv in a research report on Tuesday, March 26th. Barclays boosted their price objective on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Stephens boosted their price objective on Fiserv from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Truist Financial boosted their price objective on Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Finally, Tigress Financial boosted their price objective on Fiserv from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.21.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,209,646. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 111,575 shares of company stock worth $17,022,387 over the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

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.