Palumbo Wealth Management LLC Grows Position in Fiserv, Inc. (NYSE:FI)

Palumbo Wealth Management LLC grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 10.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,362 shares of the business services provider’s stock after acquiring an additional 1,601 shares during the period. Fiserv makes up approximately 1.3% of Palumbo Wealth Management LLC’s portfolio, making the stock its 18th largest position. Palumbo Wealth Management LLC’s holdings in Fiserv were worth $3,361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FI. Valley National Advisers Inc. purchased a new stake in Fiserv during the fourth quarter worth about $29,000. Compass Financial Services Inc acquired a new stake in shares of Fiserv during the 4th quarter valued at approximately $31,000. Kennebec Savings Bank purchased a new stake in shares of Fiserv during the 3rd quarter worth approximately $40,000. Northwest Investment Counselors LLC acquired a new stake in shares of Fiserv in the 3rd quarter worth approximately $44,000. Finally, Friedenthal Financial purchased a new position in Fiserv in the 4th quarter valued at approximately $49,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Performance

NYSE FI opened at $230.85 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 1-year low of $145.44 and a 1-year high of $233.26. The firm has a market capitalization of $131.34 billion, a P/E ratio of 42.83, a P/E/G ratio of 1.52 and a beta of 0.94. The business’s 50-day simple moving average is $210.77 and its 200-day simple moving average is $195.72.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Equities analysts predict that Fiserv, Inc. will post 10.22 EPS for the current year.

Analysts Set New Price Targets

FI has been the topic of several research reports. The Goldman Sachs Group upped their target price on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Susquehanna raised their target price on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday, February 10th. Barclays upped their price target on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Oppenheimer raised their price objective on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Citigroup upped their target price on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $239.83.

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.