Fiserv (NYSE:FI) Announces Quarterly Earnings Results

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

Shares of NYSE FI traded up $1.87 during mid-day trading on Wednesday, hitting $201.54. The stock had a trading volume of 564,777 shares, compared to its average volume of 2,468,794. The firm has a market cap of $117.92 billion, a PE ratio of 37.38, a PEG ratio of 1.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50 day moving average of $178.52 and a two-hundred day moving average of $161.81. Fiserv has a twelve month low of $111.53 and a twelve month high of $201.93.

Insiders Place Their Bets

In related news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,890 shares of company stock valued at $32,855,417. 0.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

FI has been the subject of a number of recent analyst reports. Oppenheimer assumed coverage on Fiserv in a report on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Susquehanna boosted their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, October 18th. B. Riley raised 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. Finally, Stephens lifted their price objective 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. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.04.

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.