B. Riley Weighs in on Fiserv, Inc.’s Q1 2024 Earnings (NYSE:FI)

Fiserv, Inc. (NYSE:FIFree Report) – Analysts at B. Riley decreased their Q1 2024 earnings per share estimates for shares of Fiserv in a research report issued on Wednesday, February 7th. B. Riley analyst H. Goetsch now expects that the business services provider will earn $1.75 per share for the quarter, down from their previous forecast of $1.89. The consensus estimate for Fiserv’s current full-year earnings is $8.62 per share. B. Riley also issued estimates for Fiserv’s Q2 2024 earnings at $2.08 EPS and FY2025 earnings at $10.03 EPS.

Fiserv (NYSE:FIGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The business services provider reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.04. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the business earned $1.91 EPS. The company’s revenue was up 6.2% on a year-over-year basis.

A number of other brokerages have also recently issued reports on FI. Oppenheimer raised Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research report on Thursday, January 11th. Royal Bank of Canada upped their target price on shares of Fiserv from $144.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group boosted their price target on Fiserv from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. BNP Paribas upgraded Fiserv from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 10th. Finally, Stephens increased their price target on Fiserv from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.13.

Read Our Latest Analysis on FI

Fiserv Trading Up 1.2 %

NYSE FI opened at $142.72 on Thursday. The firm’s fifty day moving average price is $136.02 and its 200 day moving average price is $125.65. The company has a market capitalization of $85.66 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91. Fiserv has a 12 month low of $103.99 and a 12 month high of $145.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.07.

Hedge Funds Weigh In On Fiserv

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Fiserv by 1.6% in the third quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock valued at $5,705,241,000 after acquiring an additional 789,232 shares during the last quarter. State Street Corp grew its stake in Fiserv by 4.1% during the first quarter. State Street Corp now owns 25,700,156 shares of the business services provider’s stock worth $2,904,889,000 after buying an additional 1,022,653 shares during the period. Capital World Investors increased its position in shares of Fiserv by 15.5% in the second quarter. Capital World Investors now owns 16,391,168 shares of the business services provider’s stock worth $2,067,746,000 after acquiring an additional 2,193,931 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Fiserv by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 12,421,876 shares of the business services provider’s stock valued at $1,400,906,000 after acquiring an additional 149,811 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Fiserv by 131.3% during the 4th quarter. Morgan Stanley now owns 9,980,646 shares of the business services provider’s stock valued at $1,008,744,000 after acquiring an additional 5,666,145 shares in the last quarter. Hedge funds and other institutional investors own 89.69% of the company’s stock.

Insider Buying and Selling

In other Fiserv news, CFO Robert W. Hau sold 188,088 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $132.77, for a total transaction of $24,972,443.76. Following the sale, the chief financial officer now directly owns 133,491 shares of the company’s stock, valued at approximately $17,723,600.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fiserv news, CFO Robert W. Hau sold 188,088 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $132.77, for a total transaction of $24,972,443.76. Following the transaction, the chief financial officer now owns 133,491 shares of the company’s stock, valued at approximately $17,723,600.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Christopher M. Foskett sold 25,429 shares of Fiserv stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $135.00, for a total value of $3,432,915.00. Following the completion of the sale, the insider now directly owns 97,665 shares of the company’s stock, valued at approximately $13,184,775. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,038 shares of company stock worth $41,389,939. 18.20% of the stock is owned by corporate insiders.

About Fiserv

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Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.

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Earnings History and Estimates for Fiserv (NYSE:FI)

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