Fiserv (NYSE:FI) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several research firms have recently commented on FI. Barclays raised their price target on Fiserv from $185.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group boosted their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets raised their price objective on shares of Fiserv from $175.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, KeyCorp upped their target price on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four investment 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. Based on data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $202.08.

Fiserv Trading Up 0.4 %

Shares of Fiserv stock opened at $203.26 on Friday. The firm has a market cap of $118.93 billion, a PE ratio of 37.99, 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 has a fifty-two week low of $111.53 and a fifty-two week high of $204.50. The business’s fifty day moving average is $179.29 and its two-hundred day moving average is $162.09.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company earned $1.96 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts anticipate that Fiserv will post 8.74 earnings per share for the current year.

Insider Activity at Fiserv

In other Fiserv news, Director Doyle Simons sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the transaction, the director now owns 76,180 shares of the company’s stock, valued at $15,386,074.60. 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 is accessible through this hyperlink. In related news, CEO Frank Bisignano sold 145,000 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the completion of the transaction, the director now owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 227,890 shares of company stock worth $40,934,217. 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.