Fiserv (NYSE:FI) Shares Gap Up After Strong Earnings

Fiserv, Inc. (NYSE:FI) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $148.80, but opened at $159.23. Fiserv shares last traded at $155.65, with a volume of 946,611 shares trading hands.

The business services provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the firm earned $1.58 EPS. Fiserv’s quarterly revenue was up 7.4% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley raised their target price on shares of Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada raised their target price on shares of Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets raised their target price on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised their target price on shares of Fiserv from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, Mizuho reiterated a “buy” rating and issued a $156.00 price objective on shares of Fiserv in a report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $164.33.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,477,911.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cooper Financial Group lifted its position in Fiserv by 3.1% in the 1st quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock worth $358,000 after buying an additional 67 shares during the last quarter. BSW Wealth Partners lifted its position in Fiserv by 2.8% in the 1st quarter. BSW Wealth Partners now owns 2,821 shares of the business services provider’s stock worth $451,000 after buying an additional 76 shares during the last quarter. Wedmont Private Capital lifted its position in Fiserv by 1.8% in the 1st quarter. Wedmont Private Capital now owns 4,898 shares of the business services provider’s stock worth $761,000 after buying an additional 87 shares during the last quarter. Apeiron RIA LLC lifted its position in Fiserv by 2.9% in the third quarter. Apeiron RIA LLC now owns 3,217 shares of the business services provider’s stock valued at $363,000 after purchasing an additional 90 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in Fiserv by 4.0% in the third quarter. Brighton Jones LLC now owns 2,385 shares of the business services provider’s stock valued at $269,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Down 2.0 %

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a 50-day simple moving average of $152.28 and a two-hundred day simple moving average of $137.34. The stock has a market cap of $89.64 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.22 and a beta of 0.91.

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.