Fiserv (NYSE:FI) Shares Gap Up on Earnings Beat

Shares of Fiserv, Inc. (NYSE:FI) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $148.80, but opened at $159.23. Fiserv shares last traded at $155.65, with a volume of 946,611 shares changing hands.

The business services provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.79 by $0.09. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho reissued a “buy” rating and issued a $156.00 price objective on shares of Fiserv in a report on Wednesday, March 27th. StockNews.com began coverage on Fiserv in a report on Saturday, February 3rd. They set a “buy” rating for the company. Jefferies Financial Group increased their price target on Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, March 25th. Barclays increased their price target on Fiserv from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, B. Riley increased their price objective on Fiserv from $152.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,209,646. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 111,575 shares of company stock worth $17,022,387 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of Fiserv

Several institutional investors have recently modified their holdings of FI. Hollencrest Capital Management raised its stake in shares of Fiserv by 75.8% during the 3rd quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. West Oak Capital LLC acquired a new stake in Fiserv in the 4th quarter valued at approximately $27,000. Halpern Financial Inc. acquired a new stake in Fiserv in the 4th quarter valued at approximately $27,000. GW&K Investment Management LLC acquired a new stake in Fiserv in the 4th quarter valued at approximately $27,000. Finally, RE Dickinson Investment Advisors LLC acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

The company has a market cap of $91.48 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The company has a fifty day moving average price of $152.14 and a two-hundred day moving average price of $137.23. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73.

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.