Fiserv (NYSE:FI) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Fiserv (NYSE:FI) posted its quarterly earnings results on Tuesday. The business services provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11, Briefing.com reports. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior 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 Trading Down 2.0 %

Shares of Fiserv stock opened at $152.25 on Thursday. Fiserv has a 1 year low of $109.11 and a 1 year high of $159.99. The firm has a market cap of $89.64 billion, a PE ratio of 28.46, a PEG ratio of 1.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.04. The company has a 50 day simple moving average of $152.28 and a two-hundred day simple moving average of $137.34.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,477,911.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 111,575 shares of company stock worth $17,022,387 over the last three months. 0.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FI shares. Royal Bank of Canada increased their target price on shares of Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, March 25th. BNP Paribas upgraded shares of Fiserv from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 10th. B. Riley increased their target price on shares of Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, KeyCorp increased their target price on shares of Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

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.