Palouse Capital Management Inc. Makes New $1.44 Million Investment in Fiserv, Inc. (NYSE:FI)

Palouse Capital Management Inc. bought a new position in shares of Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,866 shares of the business services provider’s stock, valued at approximately $1,443,000.

Several other hedge funds also recently bought and sold shares of FI. Comerica Bank acquired a new stake in Fiserv in the second quarter valued at approximately $200,000. West Oak Capital LLC acquired a new stake in Fiserv in the fourth quarter valued at approximately $27,000. Halpern Financial Inc. acquired a new stake in Fiserv in the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC acquired a new stake in Fiserv in the fourth quarter valued at approximately $28,000. Finally, PCA Investment Advisory Services Inc. acquired a new stake in Fiserv in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity

In other news, COO Guy Chiarello sold 63,646 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $25,209,646. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FI. Barclays raised their price objective on shares of Fiserv from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. StockNews.com assumed coverage on shares of Fiserv in a report on Saturday, February 3rd. They set a “buy” rating on the stock. Royal Bank of Canada raised their target price on shares of Fiserv from $144.00 to $158.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial lifted their price objective on shares of Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Finally, Stephens boosted their target price on shares of Fiserv from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.21.

Fiserv Stock Up 1.2 %

NYSE:FI traded up $1.72 during trading hours on Friday, hitting $148.63. The stock had a trading volume of 2,515,094 shares, compared to its average volume of 2,512,931. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The business has a 50 day simple moving average of $151.81 and a two-hundred day simple moving average of $136.35. The company has a market cap of $87.51 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.20 and a beta of 0.91.

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