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

Fiserv (NYSE:FI) released its quarterly earnings data on Tuesday. The business services provider reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04, Briefing.com reports. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 EPS. 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

NYSE:FI traded up $0.90 during mid-day trading on Thursday, hitting $203.26. The stock had a trading volume of 2,032,723 shares, compared to its average volume of 2,482,592. The stock has a market capitalization of $118.93 billion, a price-to-earnings ratio of 38.00, a P/E/G ratio of 1.44 and a beta of 0.93. The company has a 50 day simple moving average of $179.29 and a 200-day simple moving average of $162.09. Fiserv has a 52 week low of $111.53 and a 52 week high of $204.50. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.

Insider Activity at Fiserv

In related news, EVP John Gibbons sold 18,890 shares of Fiserv stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 227,890 shares of company stock worth $40,934,217 in the last ninety days. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FI shares. BMO Capital Markets raised their price target on shares of Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Mizuho raised their price target on shares of Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday. Stephens raised their price target on shares of Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Robert W. Baird raised 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. Finally, Morgan Stanley increased their price objective on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.08.

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.