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

Fiserv (NYSE:FI) posted its quarterly earnings results on Wednesday. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03, Briefing.com reports. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. 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 %

NYSE FI traded up $3.93 during mid-day trading on Friday, hitting $159.94. The company’s stock had a trading volume of 3,345,301 shares, compared to its average volume of 2,515,755. Fiserv has a 52-week low of $109.11 and a 52-week high of $162.47. The stock’s fifty day simple moving average is $151.29 and its two-hundred day simple moving average is $149.84. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $93.58 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $25,350,427.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,800 shares of company stock worth $7,696,448. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

FI has been the topic of a number of research reports. B. Riley increased their price objective on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup increased their price objective on shares of Fiserv from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group increased their price objective on shares of Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $154.00 to $175.00 in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $170.19.

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.