Fiserv (NYSE:FI) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Fiserv, Inc. (NYSE:FI) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. 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, beating analysts’ consensus estimates of $1.79 by $0.09. The company 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 for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.58 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FI. Morgan Stanley lifted their target price on shares of Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Thursday, January 11th. Stephens lifted their target price on shares of Fiserv from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Mizuho restated a “buy” rating and set a $156.00 target price on shares of Fiserv in a report on Wednesday, March 27th. Finally, StockNews.com began coverage on shares of Fiserv in a report on Saturday, February 3rd. They set a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 23,929 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the completion of the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $24,847,871.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 111,575 shares of company stock valued at $17,022,387. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Fiserv

Institutional investors have recently modified their holdings of the business. Piscataqua Savings Bank bought a new stake in shares of Fiserv during the 4th quarter valued at about $67,000. GHP Investment Advisors Inc. bought a new position in Fiserv in the 4th quarter worth about $78,000. Liberty Capital Management Inc. bought a new position in Fiserv in the 4th quarter worth about $7,071,000. Birch Hill Investment Advisors LLC bought a new position in Fiserv in the 4th quarter worth about $84,583,000. Finally, Graypoint LLC bought a new position in Fiserv in the 4th quarter worth about $3,732,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Trading Up 4.2 %

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. The stock has a market cap of $91.28 billion, a P/E ratio of 29.76, a PEG ratio of 1.21 and a beta of 0.91. The firm’s 50-day simple moving average is $151.90 and its 200 day simple moving average is $136.94.

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.