Fiserv, Inc. Forecasted to Post Q1 2024 Earnings of $1.84 Per Share (NYSE:FI)

Fiserv, Inc. (NYSE:FI) – Analysts at Seaport Res Ptn dropped their Q1 2024 EPS estimates for Fiserv in a report released on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now forecasts that the business services provider will post earnings of $1.84 per share for the quarter, down from their previous estimate of $1.92. The consensus estimate for Fiserv’s current full-year earnings is $8.62 per share. Seaport Res Ptn also issued estimates for Fiserv’s Q2 2024 earnings at $2.02 EPS, Q1 2025 earnings at $2.13 EPS and Q2 2025 earnings at $2.27 EPS.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.04. The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 earnings per share.

FI has been the topic of a number of other research reports. BNP Paribas raised shares of Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. StockNews.com initiated coverage on shares of Fiserv in a research note on Saturday, February 3rd. They issued a “buy” rating for the company. Royal Bank of Canada upped their price objective on shares of Fiserv from $144.00 to $158.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Oppenheimer raised shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price target for the company in a research report on Thursday, January 11th. Finally, Susquehanna raised their target price on shares of Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a research report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.21.

Fiserv Stock Performance

Shares of FI stock traded up $0.70 during trading on Wednesday, reaching $147.10. 2,937,020 shares of the company’s stock traded hands, compared to its average volume of 2,519,786. The company has a market capitalization of $86.61 billion, a P/E ratio of 29.28, a PEG ratio of 1.21 and a beta of 0.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average is $151.56 and its 200 day moving average is $135.95. Fiserv has a 1 year low of $109.11 and a 1 year high of $159.99.

Institutional Trading of Fiserv

A number of hedge funds have recently added to or reduced their stakes in FI. AMI Investment Management Inc. increased its holdings in shares of Fiserv by 33.6% during the first quarter. AMI Investment Management Inc. now owns 27,999 shares of the business services provider’s stock valued at $2,839,000 after acquiring an additional 7,047 shares in the last quarter. American Century Companies Inc. increased its holdings in Fiserv by 10.4% in the 1st quarter. American Century Companies Inc. now owns 9,227 shares of the business services provider’s stock worth $936,000 after buying an additional 870 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Fiserv by 158.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 963 shares of the business services provider’s stock worth $98,000 after buying an additional 590 shares during the period. Prudential PLC acquired a new position in Fiserv in the 1st quarter worth approximately $1,095,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Fiserv in the 1st quarter worth approximately $357,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In other 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 transaction of $9,801,484.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $25,209,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 111,575 shares of company stock worth $17,022,387 over the last quarter. 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.