FY2024 Earnings Estimate for Fiserv Issued By KeyCorp

Fiserv, Inc. (NYSE:FI) – Research analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for Fiserv in a research note issued to investors on Wednesday, December 18th. KeyCorp analyst A. Markgraff expects that the business services provider will earn $8.78 per share for the year. KeyCorp currently has a “Overweight” rating and a $225.00 target price on the stock. The consensus estimate for Fiserv’s current full-year earnings is $8.77 per share. KeyCorp also issued estimates for Fiserv’s Q4 2024 earnings at $2.48 EPS.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on Fiserv from $187.00 to $226.00 in a research note on Tuesday, October 22nd. BTIG Research assumed coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Stephens upgraded Fiserv from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $220.00 to $255.00 in a research report on Wednesday. Finally, Mizuho boosted their price target on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $222.88.

Fiserv Stock Performance

FI opened at $206.05 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $117.23 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 1.56 and a beta of 0.93. The company has a fifty day moving average of $207.37 and a 200 day moving average of $178.87. Fiserv has a fifty-two week low of $131.41 and a fifty-two week high of $223.23.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the firm posted $1.96 EPS. The company’s revenue was up 7.0% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sanders Capital LLC bought a new position in shares of Fiserv in the 3rd quarter worth $764,543,000. FMR LLC grew its stake in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Maj Invest Holding A S bought a new position in Fiserv in the third quarter worth about $172,993,000. Kovitz Investment Group Partners LLC lifted its position in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after buying an additional 561,377 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Fiserv by 1,238.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after buying an additional 558,774 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Heidi Miller sold 30,000 shares of Fiserv stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the sale, the director now directly owns 33,235 shares of the company’s stock, valued at $6,684,555.55. This represents a 47.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,821 shares of company stock valued at $18,581,095. 0.75% of the stock is currently owned by 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.