$1.45 Billion in Sales Expected for Fiserv, Inc. (FISV) This Quarter
Brokerages expect Fiserv, Inc. (NASDAQ:FISV) to report $1.45 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Fiserv’s earnings, with the lowest sales estimate coming in at $1.44 billion and the highest estimate coming in at $1.46 billion. Fiserv reported sales of $1.38 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The business is expected to report its next earnings report on Wednesday, October 25th.
On average, analysts expect that Fiserv will report full-year sales of $1.45 billion for the current year, with estimates ranging from $5.72 billion to $5.78 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.04 billion per share, with estimates ranging from $5.98 billion to $6.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Fiserv.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.04). The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share.
Several equities research analysts have recently issued reports on FISV shares. BidaskClub cut Fiserv from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Wednesday, July 19th. Guggenheim upgraded Fiserv from a “neutral” rating to a “buy” rating and upped their target price for the company from $131.00 to $136.00 in a research note on Monday, July 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $128.00 target price on shares of Fiserv in a research report on Wednesday, September 6th. Finally, Wedbush reiterated an “outperform” rating and set a $146.25 target price (up from $115.00) on shares of Fiserv in a research report on Tuesday, June 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $127.05.
In other Fiserv news, Director Kim M. Robak sold 6,124 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $124.54, for a total transaction of $762,682.96. Following the completion of the sale, the director now directly owns 42,141 shares in the company, valued at $5,248,240.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $125.54, for a total transaction of $2,134,180.00. Following the sale, the insider now owns 330,835 shares of the company’s stock, valued at $41,533,025.90. The disclosure for this sale can be found here. Insiders sold 57,124 shares of company stock worth $7,113,543 in the last 90 days. 1.80% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in FISV. Chicago Partners Investment Group LLC acquired a new position in shares of Fiserv during the 2nd quarter valued at $104,000. Parallel Advisors LLC boosted its position in Fiserv by 8.2% during the 2nd quarter. Parallel Advisors LLC now owns 849 shares of the business services provider’s stock worth $109,000 after purchasing an additional 64 shares during the period. Acrospire Investment Management LLC purchased a new stake in Fiserv during the 2nd quarter worth $122,000. Trust Co. of Vermont boosted its position in Fiserv by 53.3% during the 2nd quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after purchasing an additional 453 shares during the period. Finally, Sun Life Financial INC boosted its position in Fiserv by 11,838.5% during the 2nd quarter. Sun Life Financial INC now owns 1,552 shares of the business services provider’s stock worth $190,000 after purchasing an additional 1,539 shares during the period. 87.72% of the stock is owned by institutional investors.
Shares of Fiserv (NASDAQ:FISV) opened at 128.83 on Wednesday. Fiserv has a 52-week low of $92.81 and a 52-week high of $129.81. The stock has a market cap of $27.11 billion, a P/E ratio of 31.54 and a beta of 0.82. The firm has a 50-day moving average price of $124.31 and a 200-day moving average price of $122.21.
Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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