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

Fiserv (NYSE:FI) issued its quarterly earnings results on Wednesday. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03, Briefing.com reports. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. Fiserv’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $1.81 EPS. Fiserv updated its FY24 guidance to $8.65 to $8.80 EPS and its FY 2024 guidance to 8.650-8.800 EPS.

Fiserv Stock Down 3.2 %

FI stock traded down $5.15 during midday trading on Thursday, hitting $156.01. The company’s stock had a trading volume of 5,277,610 shares, compared to its average volume of 2,522,162. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Fiserv has a 52-week low of $109.11 and a 52-week high of $162.47. The firm has a market capitalization of $91.28 billion, a P/E ratio of 29.43, a PEG ratio of 1.27 and a beta of 0.92. The firm has a 50-day simple moving average of $151.09 and a 200-day simple moving average of $149.62.

Analyst Ratings Changes

A number of research firms have commented on FI. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. 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 report on Wednesday, April 24th. Royal Bank of Canada increased their price objective on shares of Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday. KeyCorp increased their price objective on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Finally, 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 report on Thursday. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $170.19.

Insider Buying and Selling at Fiserv

In other Fiserv 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 value of $416,528.00. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fiserv 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 value of $416,528.00. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Insiders sold 50,800 shares of company stock valued at $7,696,448 in the last 90 days. Company 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.