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

Fiserv (NYSE:FI) posted its earnings results on Tuesday. The business services provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04, Briefing.com reports. The company 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%. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business 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 Performance

Shares of NYSE FI traded up $1.87 during trading on Wednesday, reaching $201.54. 564,777 shares of the company traded hands, compared to its average volume of 2,468,794. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $178.52 and a 200-day simple moving average of $161.81. Fiserv has a 52-week low of $111.53 and a 52-week high of $201.93. The stock has a market capitalization of $117.92 billion, a PE ratio of 37.38, a P/E/G ratio of 1.44 and a beta of 0.93.

Insider Activity at Fiserv

In related news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total value of $25,718,650.00. Following the completion of the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Fiserv news, EVP John Gibbons sold 18,890 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now directly owns 28,323 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,890 shares of company stock worth $32,855,417 over the last quarter. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. B. Riley increased their price objective on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird lifted their price target on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Morgan Stanley lifted their price objective on Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. KeyCorp raised their target price on Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets upped their price target on Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Three 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, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $190.04.

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.