Seaport Res Ptn Weighs in on Fiserv, Inc.’s Q2 2024 Earnings (NYSE:FI)

Fiserv, Inc. (NYSE:FI) – Stock analysts at Seaport Res Ptn lifted their Q2 2024 earnings estimates for Fiserv in a report issued on Tuesday, April 23rd. Seaport Res Ptn analyst J. Cantwell now anticipates that the business services provider will earn $2.08 per share for the quarter, up from their prior forecast of $2.02. The consensus estimate for Fiserv’s current full-year earnings is $8.67 per share. Seaport Res Ptn also issued estimates for Fiserv’s Q3 2024 earnings at $2.25 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $2.43 EPS and Q3 2025 earnings at $2.64 EPS.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share.

Several other research firms also recently commented on FI. Royal Bank of Canada boosted their target price on shares of Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group boosted their target price on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, March 25th. StockNews.com began coverage on shares of Fiserv in a report on Saturday, February 3rd. They issued a “buy” rating on the stock. KeyCorp boosted their target price on shares of Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Susquehanna boosted their target price on shares of Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.33.

Fiserv Price Performance

FI stock opened at $155.89 on Friday. Fiserv has a one year low of $109.11 and a one year high of $159.99. The company’s fifty day moving average price is $152.54 and its 200-day moving average price is $137.74. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06. The company has a market capitalization of $91.78 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FI. Vanguard Group Inc. bought a new position in shares of Fiserv in the third quarter worth about $5,705,241,000. Price T Rowe Associates Inc. MD bought a new position in Fiserv during the 4th quarter worth about $5,885,279,000. Capital World Investors bought a new position in Fiserv during the 4th quarter worth about $2,329,623,000. Massachusetts Financial Services Co. MA bought a new position in Fiserv during the 4th quarter worth about $960,592,000. Finally, Veritas Asset Management LLP bought a new position in Fiserv during the 4th quarter worth about $927,298,000. 90.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $149.53, for a total value of $3,588,720.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,477,911.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is currently owned by company insiders.

Fiserv Company Profile

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.