Fiserv (NYSE:FI) Updates FY24 Earnings Guidance

Fiserv (NYSE:FI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.73-8.80 for the period, compared to the consensus estimate of $8.75. Fiserv also updated its FY 2024 guidance to 8.730-8.800 EPS.

Fiserv Stock Up 0.6 %

FI traded up $1.19 during midday trading on Thursday, reaching $203.55. The company’s stock had a trading volume of 148,755 shares, compared to its average volume of 2,473,446. The stock’s 50-day moving average is $179.29 and its 200-day moving average is $162.09. The firm has a market capitalization of $119.10 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 1.44 and a beta of 0.93. Fiserv has a 1 year low of $111.53 and a 1 year high of $203.69. 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 (NYSE:FI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Fiserv will post 8.74 EPS for the current year.

Analyst Upgrades and Downgrades

FI has been the topic of several analyst reports. B. Riley upped their price target on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 25th. KeyCorp raised their target price on Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup boosted their price target on Fiserv from $187.00 to $226.00 in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays upped their price objective on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned 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 $202.08.

Insider Activity at Fiserv

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the firm’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 owns 2,965,084 shares of the company’s stock, valued at approximately $525,916,949.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold 187,890 shares of company stock valued at $32,855,417 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.

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.