Fiserv (NYSE:FI) Issues Earnings Results, Beats Estimates By $0.03 EPS

Fiserv (NYSE:FI) announced its quarterly earnings data on Wednesday. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03, Briefing.com reports. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period last year, the firm earned $1.81 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Fiserv updated its FY24 guidance to $8.65 to $8.80 EPS and its FY 2024 guidance to 8.650-8.800 EPS.

Fiserv Trading Up 2.5 %

Shares of FI stock traded up $3.93 during trading hours on Friday, reaching $159.94. 1,500,332 shares of the stock were exchanged, compared to its average volume of 2,515,020. Fiserv has a 12-month low of $109.11 and a 12-month high of $162.47. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $151.15 and its 200-day moving average price is $149.67. The firm has a market capitalization of $93.58 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.30 and a beta of 0.92.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,350,427.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,350,427.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,800 shares of company stock valued at $7,696,448. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FI shares. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Morgan Stanley upgraded shares of Fiserv from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $154.00 to $175.00 in a report on Monday. Keefe, Bruyette & Woods increased their target price on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday. BMO Capital Markets raised their price objective on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Fiserv from $169.00 to $176.00 and gave the stock an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.19.

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.