Fiserv (NYSE:FI) Updates FY24 Earnings Guidance

Fiserv (NYSE:FI) updated its FY24 earnings guidance on Tuesday. 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.

Fiserv Stock Performance

Shares of FI stock opened at $197.15 on Tuesday. Fiserv has a 12 month low of $109.11 and a 12 month high of $198.86. The company’s fifty day simple moving average is $177.77 and its 200-day simple moving average is $161.51. The firm has a market cap of $115.35 billion, a PE ratio of 36.85, a P/E/G ratio of 1.44 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. Equities research analysts expect that Fiserv will post 8.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FI shares. Jefferies Financial Group boosted their price target on Fiserv from $160.00 to $195.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. William Blair raised shares of Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. B. Riley lifted their price objective on shares of Fiserv from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Citigroup raised shares of Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $183.00 price target on shares of Fiserv in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.92.

Insider Activity at Fiserv

In other Fiserv news, CEO Frank Bisignano sold 145,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Frank Bisignano sold 145,000 shares of the 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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction 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 $4,764,211.83. This represents 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 quarter. 0.75% of the stock is owned by corporate 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.