Fiserv (NYSE:FI) Issues Earnings Results

Fiserv (NYSE:FI) announced its quarterly earnings data on Tuesday. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11, Briefing.com reports. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. Fiserv updated its FY24 guidance to $8.60-8.75 EPS and its FY 2024 guidance to 8.600-8.750 EPS.

Fiserv Stock Up 1.4 %

Shares of NYSE:FI traded up $2.15 during midday trading on Friday, hitting $155.44. 913,130 shares of the company’s stock traded hands, compared to its average volume of 2,534,730. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06. The company has a market cap of $91.52 billion, a PE ratio of 28.65, a P/E/G ratio of 1.24 and a beta of 0.91. The firm’s fifty day moving average price is $152.39 and its two-hundred day moving average price is $137.45. Fiserv has a twelve month low of $109.11 and a twelve month high of $159.99.

Analyst Upgrades and Downgrades

FI has been the subject of several recent analyst reports. Oppenheimer upgraded Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price target for the company in a research note on Thursday, January 11th. StockNews.com began coverage on Fiserv in a report on Saturday, February 3rd. They issued a “buy” rating for the company. Morgan Stanley lifted their price objective on Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Mizuho reissued a “buy” rating and set a $156.00 price target on shares of Fiserv in a report on Wednesday, March 27th. Finally, Truist Financial upped their price objective on Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.33.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,209,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is currently owned by corporate insiders.

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.