Fiserv (NYSE:FI) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Fiserv (NYSE:FI) posted its quarterly earnings data on Tuesday. The business services provider reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04, Briefing.com reports. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share. Fiserv updated its FY 2024 guidance to 8.730-8.800 EPS and its FY24 guidance to $8.73-8.80 EPS.

Fiserv Stock Up 0.9 %

NYSE:FI traded up $1.75 during trading hours on Wednesday, hitting $201.42. The stock had a trading volume of 493,110 shares, compared to its average volume of 2,469,741. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv has a 1-year low of $111.53 and a 1-year high of $201.93. The business has a 50 day simple moving average of $178.52 and a two-hundred day simple moving average of $161.81. The company has a market cap of $117.85 billion, a PE ratio of 37.67, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93.

Insider Buying and Selling at Fiserv

In other news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total value of $3,959,280.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,890 shares of company stock valued at $32,855,417 over the last 90 days. 0.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BTIG Research assumed coverage on shares of Fiserv in a report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price objective on the stock. Oppenheimer assumed coverage on shares of Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. BMO Capital Markets lifted their target price on shares of Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $191.29.

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.