Fiserv (NYSE:FI) Releases Earnings Results, Beats Expectations By $0.03 EPS

Fiserv (NYSE:FI) posted its earnings results on Wednesday. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03, Briefing.com reports. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations 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 quarter 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 Price Performance

Shares of FI stock traded down $5.15 during trading on Thursday, hitting $156.01. The company 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. The stock’s 50-day moving average is $151.09 and its two-hundred day moving average is $149.62. The stock has a market capitalization of $91.28 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92. Fiserv has a 52 week low of $109.11 and a 52 week high of $162.47.

Wall Street Analyst Weigh In

FI has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Fiserv from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets raised their price target on shares of Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday. KeyCorp raised their target price on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Mizuho raised their target price on shares of Fiserv from $156.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.19.

Insider Buying and Selling

In related news, EVP John Gibbons sold 2,800 shares of the company’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 transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $25,350,427.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Gibbons sold 2,800 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,213,329.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,800 shares of company stock worth $7,696,448. Insiders own 0.75% of the company’s stock.

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.