Wall Street brokerages predict that Fiserv, Inc. (NASDAQ:FISV) will post $3.58 billion in sales for the current quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Fiserv’s earnings, with the lowest sales estimate coming in at $3.52 billion and the highest estimate coming in at $3.70 billion. Fiserv posted sales of $3.48 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The business is expected to announce its next quarterly earnings report on Thursday, May 6th.
According to Zacks, analysts expect that Fiserv will report full year sales of $15.11 billion for the current year, with estimates ranging from $14.17 billion to $15.60 billion. For the next fiscal year, analysts expect that the company will report sales of $16.27 billion, with estimates ranging from $15.98 billion to $16.71 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Fiserv.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Monday, February 8th. The business services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.01. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Fiserv had a return on equity of 8.75% and a net margin of 6.01%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share.
Shares of FISV traded up $2.29 during midday trading on Thursday, reaching $115.65. 394,602 shares of the company were exchanged, compared to its average volume of 4,988,705. The stock has a 50-day moving average price of $110.03 and a 200-day moving average price of $106.23. The company has a market cap of $77.54 billion, a price-to-earnings ratio of 87.69, a P/E/G ratio of 1.33 and a beta of 0.85. Fiserv has a 1-year low of $73.50 and a 1-year high of $121.83. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.
Fiserv announced that its board has initiated a stock buyback program on Thursday, November 19th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other Fiserv news, major shareholder Omaha Holdings L.P. New sold 20,125,000 shares of Fiserv stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $110.04, for a total transaction of $2,214,555,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Guy Chiarello sold 20,000 shares of Fiserv stock in a transaction dated Wednesday, December 9th. The shares were sold at an average price of $115.25, for a total value of $2,305,000.00. Following the transaction, the insider now directly owns 270,800 shares in the company, valued at approximately $31,209,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,167,073 shares of company stock worth $2,219,400,399. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. UBS Oconnor LLC grew its stake in Fiserv by 61.9% during the 4th quarter. UBS Oconnor LLC now owns 170,000 shares of the business services provider’s stock valued at $19,356,000 after acquiring an additional 65,000 shares in the last quarter. AtonRa Partners purchased a new position in Fiserv during the 4th quarter valued at about $2,242,000. Berman Capital Advisors LLC grew its stake in Fiserv by 31.4% during the 4th quarter. Berman Capital Advisors LLC now owns 1,317 shares of the business services provider’s stock valued at $149,000 after acquiring an additional 315 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in Fiserv by 7.6% during the 4th quarter. Rehmann Capital Advisory Group now owns 4,578 shares of the business services provider’s stock valued at $521,000 after acquiring an additional 322 shares in the last quarter. Finally, Albion Financial Group UT grew its stake in Fiserv by 34.4% during the 4th quarter. Albion Financial Group UT now owns 147,021 shares of the business services provider’s stock valued at $16,740,000 after acquiring an additional 37,614 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. Its First Data segment provides merchant acquiring, e-commerce, mobile commerce, and other business solutions; credit card and loan account processing, commercial payments, customer communications, plastics solutions, customer service, and other products; and various network solutions and security, and risk and fraud management solutions.
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