Fiserv, Inc. (FISV) Expected to Post Quarterly Sales of $1.45 Billion
Equities research analysts expect that Fiserv, Inc. (NASDAQ:FISV) will announce sales of $1.45 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided 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 posted sales of $1.38 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that Fiserv will report full-year sales of $1.45 billion for the current financial year, with estimates ranging from $5.72 billion to $5.75 billion. For the next fiscal year, analysts expect that the firm will post 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 a mean average based on a survey of sell-side research analysts that follow Fiserv.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.04). The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share.
FISV has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Fiserv from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $128.00 price objective (up from $123.00) on shares of Fiserv in a research report on Tuesday, August 8th. Credit Suisse Group increased their price objective on shares of Fiserv from $123.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $136.00 in a research report on Monday, July 17th. Finally, BMO Capital Markets increased their price objective on shares of Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $127.77.
Fiserv (NASDAQ FISV) opened at 128.44 on Monday. The stock’s 50 day moving average is $126.17 and its 200-day moving average is $123.21. Fiserv has a 12 month low of $92.81 and a 12 month high of $129.81. The company has a market capitalization of $27.03 billion, a PE ratio of 31.44 and a beta of 0.82.
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In other Fiserv news, Director Kim M. Robak sold 6,124 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $124.54, for a total value of $762,682.96. Following the transaction, the director now directly owns 42,141 shares of the company’s stock, valued at $5,248,240.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $122.02, for a total transaction of $2,074,340.00. Following the completion of the transaction, the insider now directly owns 269,151 shares in the company, valued at $32,841,805.02. The disclosure for this sale can be found here. Insiders sold 57,124 shares of company stock worth $7,133,943 over the last ninety days. Insiders own 1.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FISV. Empire Life Investments Inc. bought a new position in shares of Fiserv in the first quarter valued at $13,650,000. Teachers Advisors LLC lifted its stake in shares of Fiserv by 3.4% in the first quarter. Teachers Advisors LLC now owns 448,727 shares of the business services provider’s stock valued at $51,743,000 after buying an additional 14,566 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Fiserv by 2.9% in the first quarter. Stephens Investment Management Group LLC now owns 22,517 shares of the business services provider’s stock valued at $2,596,000 after buying an additional 641 shares in the last quarter. Weatherstone Capital Management lifted its stake in shares of Fiserv by 3.4% in the first quarter. Weatherstone Capital Management now owns 2,255 shares of the business services provider’s stock valued at $260,000 after buying an additional 75 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Fiserv by 282.4% in the first quarter. WINTON GROUP Ltd now owns 345,463 shares of the business services provider’s stock valued at $34,363,000 after buying an additional 255,125 shares in the last quarter. 87.70% of the stock is currently owned by hedge funds and other institutional investors.
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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