Seaport Res Ptn Has Weak Forecast for Fiserv FY2024 Earnings

Fiserv, Inc. (NYSE:FI) – Investment analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for shares of Fiserv in a research report issued to clients and investors on Tuesday, October 22nd. Seaport Res Ptn analyst J. Cantwell now anticipates that the business services provider will post earnings of $8.76 per share for the year, down from their prior forecast of $8.78. The consensus estimate for Fiserv’s current full-year earnings is $8.74 per share. Seaport Res Ptn also issued estimates for Fiserv’s Q4 2024 earnings at $2.48 EPS, Q4 2025 earnings at $2.87 EPS and FY2025 earnings at $10.15 EPS.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. Fiserv’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS.

A number of other research firms have also recently commented on FI. Barclays lifted their target price on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. KeyCorp lifted their target price on shares of Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of Fiserv from $175.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Oppenheimer began coverage on shares of Fiserv in a research note on Tuesday, October 1st. They set an “outperform” rating and a $203.00 price objective for the company. Finally, Stephens lifted their price objective on shares of Fiserv from $170.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $204.38.

Fiserv Stock Down 1.9 %

FI stock opened at $199.52 on Friday. The firm has a 50 day moving average of $180.04 and a 200 day moving average of $162.37. The stock has a market capitalization of $116.74 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv has a 52 week low of $111.53 and a 52 week high of $204.50.

Insider Buying and Selling

In related news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the sale, the director now owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total transaction of $3,959,280.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $27,005,424.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Doyle Simons sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,890 shares of company stock valued at $40,934,217. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fiserv

A number of large investors have recently modified their holdings of the business. Norden Group LLC acquired a new position in shares of Fiserv during the 1st quarter valued at about $2,359,000. ORG Partners LLC boosted its position in shares of Fiserv by 3,016.0% during the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after acquiring an additional 3,197 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in shares of Fiserv during the 1st quarter valued at about $32,000. Park Place Capital Corp boosted its position in shares of Fiserv by 66.3% during the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock valued at $1,259,000 after acquiring an additional 2,794 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Fiserv by 377.3% during the 1st quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock valued at $9,047,000 after acquiring an additional 44,776 shares during the last quarter. 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.