Fiserv (NYSE:FI) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Fiserv (NYSE:FI - Get Free Report) posted its earnings results on Tuesday. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.04, Briefing.com reports. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $4.90 billion. During the same period in the previous year, the business posted $1.96 EPS. The business's revenue was up 7.0% compared to the same quarter last year. Fiserv updated its FY 2024 guidance to 8.730-8.800 EPS and its FY24 guidance to $8.73-8.80 EPS.

Fiserv Trading Up 1.3 %

FI stock traded up $2.69 during mid-day trading on Wednesday, hitting $202.36. 3,524,436 shares of the company were exchanged, compared to its average volume of 2,484,786. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $118.40 billion, a P/E ratio of 37.82, a PEG ratio of 1.44 and a beta of 0.93. The business has a fifty day simple moving average of $179.29 and a 200-day simple moving average of $162.09. Fiserv has a 12-month low of $111.53 and a 12-month high of $203.00.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FI shares. UBS Group upped their price objective on shares of Fiserv from $185.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday. William Blair upgraded shares of Fiserv to a "strong-buy" rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Fiserv from $199.00 to $227.00 and gave the stock an "overweight" rating in a research report on Wednesday. TD Cowen upped their price objective on shares of Fiserv from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of Fiserv from $188.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Fiserv currently has an average rating of "Moderate Buy" and a consensus target price of $199.92.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company's stock, valued at $27,005,424.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company's stock, valued at approximately $27,005,424.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank Bisignano sold 145,000 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,965,084 shares of the company's stock, valued at approximately $525,916,949.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,890 shares of company stock valued at $32,855,417 over the last 90 days. 0.75% of the stock is owned by company insiders.

About Fiserv

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.