B. Riley Issues Pessimistic Outlook for Fiserv Earnings

Fiserv, Inc. (NYSE:FI) – Stock analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for Fiserv in a research note issued on Monday, October 21st. B. Riley analyst H. Goetsch now expects that the business services provider will earn $2.23 per share for the quarter, down from their prior forecast of $2.25. B. Riley has a “Buy” rating and a $185.00 price objective on the stock. The consensus estimate for Fiserv’s current full-year earnings is $8.74 per share.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on FI. Oppenheimer started coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price target on the stock. Wells Fargo & Company upped their price target on Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley increased their target price on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. William Blair upgraded Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and a consensus price target of $190.04.

Fiserv Stock Performance

Shares of NYSE:FI opened at $199.72 on Tuesday. The business’s fifty day moving average price is $178.52 and its two-hundred day moving average price is $161.81. Fiserv has a fifty-two week low of $109.11 and a fifty-two week high of $199.87. The stock has a market capitalization of $116.86 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $27,005,424.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $27,005,424.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,890 shares of company stock worth $32,855,417. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Fiserv

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in Fiserv in the 4th quarter valued at approximately $3,292,000. Fisher Asset Management LLC acquired a new stake in Fiserv in the 4th quarter valued at approximately $296,000. Dynamic Advisor Solutions LLC raised its position in Fiserv by 5.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 8,518 shares of the business services provider’s stock valued at $1,361,000 after buying an additional 413 shares during the last quarter. RMR Wealth Builders acquired a new stake in Fiserv in the 1st quarter valued at approximately $363,000. Finally, Brookstone Capital Management raised its position in Fiserv by 313.1% in the 1st quarter. Brookstone Capital Management now owns 26,760 shares of the business services provider’s stock valued at $4,277,000 after buying an additional 20,282 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

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.