Fiserv (NASDAQ:FISV) Price Target Raised to $59.00

Fiserv (NASDAQ:FISV) had its price target upped by Barclays from $50.00 to $59.00 in a report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the business services provider’s stock.

FISV has been the topic of a number of other research reports. Susquehanna dropped their price target on Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a research note on Friday, August 7th. Weiss Ratings cut Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 21st. Oppenheimer downgraded Fiserv from an “outperform” rating to a “market perform” rating in a report on Thursday, October 8th. TD Cowen decreased their price objective on Fiserv from $55.00 to $49.00 and set a “hold” rating for the company in a report on Friday, October 9th. Finally, Raymond James Financial restated a “market perform” rating on shares of Fiserv in a research report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.11.

Fiserv Stock Performance

Shares of FISV stock traded up $0.14 during mid-day trading on Wednesday, hitting $62.88. 9,729,897 shares of the stock were exchanged, compared to its average volume of 5,641,700. The stock’s fifty day simple moving average is $49.34 and its two-hundred day simple moving average is $54.59. The stock has a market capitalization of $33.44 billion, a price-to-earnings ratio of -8.47, a P/E/G ratio of 5.19 and a beta of 0.85. Fiserv has a 12-month low of $43.87 and a 12-month high of $70.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04.

Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.03. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.85 billion. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts forecast that Fiserv will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Fiserv during the second quarter worth $2,079,711,000. Deutsche Bank AG acquired a new position in Fiserv in the 2nd quarter valued at $178,310,000. Legal & General Group Plc acquired a new position in Fiserv in the 2nd quarter valued at $161,557,000. Bank of New York Mellon Corp purchased a new position in Fiserv during the 2nd quarter worth $123,177,000. Finally, Turtle Creek Asset Management Inc. lifted its stake in shares of Fiserv by 968.1% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock worth $147,517,000 after acquiring an additional 2,396,167 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Key Headlines Impacting Fiserv

Here are the key news stories impacting Fiserv this week:

• Positive Sentiment: Fiserv reported quarterly EPS of $1.75, topping the $1.72 consensus estimate; revenue of $4.85 billion matched expectations. Shares subsequently bounced, and coverage highlighted Project Elevate as support for an undervaluation thesis. Article: Fiserv Shares Gap Up After Better-Than-Expected Earnings Article: Fiserv Rebounds on Project Elevate
• Positive Sentiment: KBW reaffirmed its Buy rating and raised its price target. Citigroup and RBC also issued positive forecasts, adding support to the bullish view. Article: KBW Reaffirms Buy Rating Article: Citigroup Forecast Article: RBC Forecast
• Neutral Sentiment: Fiserv added Raj Seshadri to its board, a move tied to its payments and data focus. UBS raised its target to $68 but kept a Neutral rating. Article: Fiserv Adds Raj Seshadri to Board
• Negative Sentiment: Revenue declined 1.3% year over year, and analyst opinion remains divided: Bank of America maintained a Sell rating, while B. Riley kept its Hold rating. Article: Bank of America Maintains Sell Rating Article: B. Riley Maintains Hold Rating

Fiserv Company Profile

Fiserv is a financial technology company that provides payment and financial services technology to banks, credit unions, businesses and merchants. Its offerings include payment processing, digital banking, account processing, debit and credit card services, and tools that help financial institutions manage customer accounts and transactions.

For merchants, Fiserv offers Clover, a platform that combines point-of-sale hardware and software with payment acceptance and business management tools.