Fiserv (NYSE:FI) Shares Gap Up on Earnings Beat

Shares of Fiserv, Inc. (NYSE:FI) gapped up before the market opened on Tuesday following a better than expected earnings announcement. 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 changing hands.

The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.09. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. Fiserv’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 earnings per share.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, March 25th. Susquehanna raised their price objective on shares of Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a report on Monday, March 25th. Royal Bank of Canada raised their price objective on shares of Fiserv from $144.00 to $158.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Evercore ISI reissued an “outperform” rating and set a $185.00 price objective on shares of Fiserv in a report on Tuesday, March 26th. Finally, BNP Paribas raised shares of Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 23,929 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $24,847,871.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 111,575 shares of company stock worth $17,022,387 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fiserv

A number of large investors have recently made changes to their positions in the company. BSW Wealth Partners increased its stake in Fiserv by 2.8% in the 1st quarter. BSW Wealth Partners now owns 2,821 shares of the business services provider’s stock valued at $451,000 after buying an additional 76 shares during the period. Global Retirement Partners LLC grew its stake in Fiserv by 7.5% in the 1st quarter. Global Retirement Partners LLC now owns 9,921 shares of the business services provider’s stock valued at $1,586,000 after buying an additional 689 shares during the last quarter. Sage Mountain Advisors LLC boosted its holdings in Fiserv by 11.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 2,375 shares of the business services provider’s stock valued at $380,000 after purchasing an additional 244 shares during the period. Venturi Wealth Management LLC boosted its holdings in Fiserv by 1.2% in the 1st quarter. Venturi Wealth Management LLC now owns 78,797 shares of the business services provider’s stock valued at $12,593,000 after purchasing an additional 923 shares during the period. Finally, Hall Laurie J Trustee boosted its holdings in Fiserv by 2.5% in the 1st quarter. Hall Laurie J Trustee now owns 18,465 shares of the business services provider’s stock valued at $2,951,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Up 4.4 %

The business’s fifty day simple moving average is $152.14 and its two-hundred day simple moving average is $137.23. The stock has a market capitalization of $91.48 billion, a P/E ratio of 31.08, a P/E/G ratio of 1.21 and a beta of 0.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73.

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.