Fiserv (NYSE:FI) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Fiserv (NYSE:FIGet Free Report) announced its earnings results on Tuesday. The business services provider reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.04, Briefing.com reports. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Fiserv updated its FY 2024 guidance to 8.550-8.700 EPS and its FY24 guidance to $8.55-8.70 EPS.

Fiserv Stock Down 0.1 %

FI traded down $0.15 during trading hours on Friday, hitting $143.40. 290,675 shares of the company’s stock were exchanged, compared to its average volume of 2,573,788. The company has a quick ratio of 1.07, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The stock’s 50-day moving average is $136.28 and its two-hundred day moving average is $125.77. Fiserv has a 1-year low of $103.99 and a 1-year high of $145.87. The stock has a market cap of $86.07 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 1.15 and a beta of 0.91.

Insiders Place Their Bets

In other Fiserv news, EVP Suzan Kereere sold 1,633 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $132.88, for a total transaction of $216,993.04. Following the sale, the executive vice president now directly owns 47,792 shares of the company’s stock, valued at $6,350,600.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Kenneth Best sold 9,138 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $127.50, for a total value of $1,165,095.00. Following the transaction, the chief accounting officer now directly owns 30,691 shares in the company, valued at $3,913,102.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Suzan Kereere sold 1,633 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $132.88, for a total transaction of $216,993.04. Following the completion of the transaction, the executive vice president now owns 47,792 shares in the company, valued at $6,350,600.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,038 shares of company stock valued at $41,389,939. 18.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fiserv

Large investors have recently bought and sold shares of the company. First Manhattan Co. grew its holdings in shares of Fiserv by 4.6% during the 4th quarter. First Manhattan Co. now owns 1,966 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 86 shares during the last quarter. Holderness Investments Co. grew its holdings in shares of Fiserv by 4.1% during the 2nd quarter. Holderness Investments Co. now owns 2,295 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 90 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Fiserv by 5.1% during the 2nd quarter. Proficio Capital Partners LLC now owns 1,950 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 94 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of Fiserv by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 29,789 shares of the business services provider’s stock valued at $3,758,000 after purchasing an additional 113 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its position in Fiserv by 71.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 306 shares of the business services provider’s stock worth $27,000 after buying an additional 128 shares during the period. 89.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Fiserv from $152.00 to $157.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho boosted their price target on shares of Fiserv from $150.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Tigress Financial boosted their price target on shares of Fiserv from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Morgan Stanley boosted their price target on shares of Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of Fiserv in a research note on Thursday, November 16th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $152.39.

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Fiserv Company Profile

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Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.

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Earnings History for Fiserv (NYSE:FI)

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