Seaport Res Ptn Weighs in on Fiserv, Inc.’s Q1 2024 Earnings (NYSE:FI)

Fiserv, Inc. (NYSE:FI) – Equities researchers at Seaport Res Ptn dropped their Q1 2024 EPS estimates for shares of Fiserv in a note issued to investors on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now forecasts that the business services provider will earn $1.84 per share for the quarter, down from their prior forecast of $1.92. The consensus estimate for Fiserv’s current full-year earnings is $8.62 per share. Seaport Res Ptn also issued estimates for Fiserv’s Q2 2024 earnings at $2.02 EPS, Q1 2025 earnings at $2.13 EPS and Q2 2025 earnings at $2.27 EPS.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.04. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. Fiserv’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 EPS.

Other equities research analysts have also issued reports about the stock. StockNews.com assumed coverage on shares of Fiserv in a report on Saturday, February 3rd. They issued a “buy” rating for the company. Susquehanna lifted their target price on Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a research report on Monday, March 25th. Morgan Stanley lifted their target price on Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Stephens lifted their price objective on Fiserv from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, KeyCorp upgraded shares of Fiserv from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a report on Monday, January 8th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and an average price target of $158.21.

Fiserv Price Performance

FI opened at $146.91 on Wednesday. The company’s 50-day simple moving average is $151.72 and its two-hundred day simple moving average is $136.10. Fiserv has a 52-week low of $109.11 and a 52-week high of $159.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $86.49 billion, a P/E ratio of 29.38, a P/E/G ratio of 1.20 and a beta of 0.91.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 23,929 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,847,871.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fiserv

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Fiserv by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock valued at $5,705,241,000 after buying an additional 789,232 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $5,885,279,000. Dodge & Cox purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $4,631,675,000. State Street Corp boosted its stake in shares of Fiserv by 4.1% in the first quarter. State Street Corp now owns 25,700,156 shares of the business services provider’s stock valued at $2,904,889,000 after buying an additional 1,022,653 shares in the last quarter. Finally, Capital World Investors purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $2,329,623,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.