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

Fiserv, Inc. (NYSE:FI - Get Free Report) shares gapped up prior to trading 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.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Fiserv in a research note on Saturday, February 3rd. They issued a "buy" rating for the company. BMO Capital Markets increased their price target on Fiserv from $152.00 to $157.00 and gave the company an "outperform" rating in a research note on Thursday, February 8th. Evercore ISI reissued an "outperform" rating and issued a $185.00 price target on shares of Fiserv in a research note on Tuesday, March 26th. Mizuho reissued a "buy" rating and issued a $156.00 price target on shares of Fiserv in a research note on Wednesday, March 27th. Finally, Oppenheimer raised Fiserv from a "market perform" rating to an "outperform" rating and set a $168.00 target price for the company in a research note on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and a consensus target price of $157.79.

Insider Activity

In other news, COO Guy Chiarello sold 63,646 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $25,209,646. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 111,575 shares of company stock worth $17,022,387 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FI. Vanguard Group Inc. lifted its holdings in Fiserv by 1.6% during the third quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider's stock worth $5,705,241,000 after acquiring an additional 789,232 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Fiserv during the fourth quarter worth $5,885,279,000. Capital World Investors bought a new stake in Fiserv during the fourth quarter worth $2,329,623,000. Massachusetts Financial Services Co. MA bought a new stake in Fiserv during the fourth quarter worth $960,592,000. Finally, Veritas Asset Management LLP bought a new stake in Fiserv during the fourth quarter worth $927,298,000. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Up 4.4 %

The stock has a fifty day moving average of $152.14 and a 200 day moving average of $137.23. The firm has a market capitalization of $91.48 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv Company Profile

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.