Fiserv (NYSE:FI) Announces Earnings Results

by · The Cerbat Gem

Fiserv (NYSE:FI – Get Free Report) released its earnings results on Tuesday. The business services provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 17.45% and a return on equity of 16.41%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last 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 Down 0.3 %

Shares of Fiserv stock traded down $0.69 during trading on Friday, hitting $202.60. 327,617 shares of the stock were exchanged, compared to its average volume of 2,471,826. 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’s 50-day moving average price is $179.29 and its 200 day moving average price is $162.09. The stock has a market cap of $118.54 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Fiserv has a 12-month low of $111.53 and a 12-month high of $204.50.

Analysts Set New Price Targets

A number of brokerages recently commented on FI. Robert W. Baird lifted their price objective on Fiserv from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Susquehanna boosted their price target 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. StockNews.com raised shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. William Blair raised shares of Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley increased their price target 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.08.

View Our Latest Research Report on FI

Insider Activity at Fiserv

In other Fiserv news, Director Doyle Simons sold 40,000 shares of Fiserv stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the sale, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fiserv news, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This trade 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 can be accessed through this link. Also, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,890 shares of company stock valued at $40,934,217 over the last quarter. 0.75% of the stock is owned by insiders.

About Fiserv

(Get Free Report)

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.

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