Fiserv (NYSE:FI) Updates FY24 Earnings Guidance

Fiserv (NYSE:FI - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $8.73-8.80 for the period, compared to the consensus estimate of $8.75. Fiserv also updated its FY 2024 guidance to 8.730-8.800 EPS.

Wall Street Analysts Forecast Growth

FI has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $183.00 price objective on shares of Fiserv in a report on Wednesday, October 2nd. Susquehanna increased their price objective on shares of Fiserv from $190.00 to $230.00 and gave the company a "positive" rating in a report on Friday. StockNews.com raised Fiserv from a "hold" rating to a "buy" rating in a report on Thursday, September 26th. Wells Fargo & Company increased their price target on Fiserv from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Finally, B. Riley boosted their price objective on Fiserv from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and a consensus price target of $190.04.

Fiserv Stock Up 1.3 %

FI traded up $2.55 during trading on Tuesday, reaching $199.72. 4,479,195 shares of the stock traded hands, compared to its average volume of 2,479,299. The stock's 50-day simple moving average is $178.52 and its two-hundred day simple moving average is $161.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv has a fifty-two week low of $109.11 and a fifty-two week high of $199.87. The stock has a market cap of $116.86 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts expect that Fiserv will post 8.74 EPS for the current year.

Insider Activity at Fiserv

In related news, CEO Frank Bisignano sold 145,000 shares of the business's stock in a transaction dated Friday, September 20th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP John Gibbons sold 18,890 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,890 shares of company stock worth $32,855,417. 0.75% of the stock is owned by 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.