Fiserv (NYSE:FI) Updates FY 2024 Earnings Guidance

Fiserv (NYSE:FIGet Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 8.550-8.700 for the period, compared to the consensus earnings per share estimate of 8.610. The company issued revenue guidance of -. Fiserv also updated its FY24 guidance to $8.55-8.70 EPS.

Fiserv Price Performance

Fiserv stock opened at $144.15 on Tuesday. Fiserv has a 52 week low of $103.99 and a 52 week high of $145.87. The business has a 50-day simple moving average of $135.48 and a 200 day simple moving average of $125.44. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The stock has a market cap of $86.52 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.17 and a beta of 0.91.

Analyst Ratings Changes

FI has been the subject of a number of research reports. Wedbush reiterated an outperform rating and issued a $150.00 price objective on shares of Fiserv in a report on Thursday, November 16th. KeyCorp upgraded 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. Seaport Res Ptn restated a neutral rating on shares of Fiserv in a report on Thursday, October 12th. Oppenheimer upgraded Fiserv from a market perform rating to an outperform rating and set a $168.00 target price for the company in a report on Thursday, January 11th. Finally, Raymond James upped their price target on Fiserv from $145.00 to $147.00 and gave the company an outperform rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Fiserv has an average rating of Moderate Buy and a consensus price target of $146.50.

Check Out Our Latest Report on FI

Insider Transactions at Fiserv

In other news, EVP Suzan Kereere sold 1,633 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $132.88, for a total value of $216,993.04. Following the transaction, the executive vice president now directly owns 47,792 shares in the company, valued at approximately $6,350,600.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Robert W. Hau sold 188,088 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $132.77, for a total value of $24,972,443.76. Following the transaction, the chief financial officer now directly owns 133,491 shares of the company’s stock, valued at approximately $17,723,600.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Suzan Kereere sold 1,633 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $132.88, for a total value of $216,993.04. Following the completion of the transaction, the executive vice president now directly owns 47,792 shares in the company, valued at $6,350,600.96. The disclosure for this sale can be found here. Insiders have sold a total of 311,038 shares of company stock worth $41,389,939 in the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its holdings in Fiserv by 131.3% during the fourth 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 during the period. Norges Bank purchased a new stake in Fiserv during the fourth quarter valued at approximately $547,079,000. Moneta Group Investment Advisors LLC raised its position in Fiserv by 135,763.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,588,117 shares of the business services provider’s stock valued at $463,721,000 after purchasing an additional 4,584,740 shares during the period. State Street Corp raised its position 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 valued at $2,904,889,000 after purchasing an additional 1,022,653 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Fiserv by 518.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,123,613 shares of the business services provider’s stock valued at $113,934,000 after purchasing an additional 941,832 shares during the period. 89.69% of the stock is owned by institutional investors.

Fiserv Company Profile

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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.

Further Reading

Earnings History and Estimates for Fiserv (NYSE:FI)

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