Citigroup Forecasts Strong Price Appreciation for Fiserv (NASDAQ:FISV) Stock

Fiserv (NASDAQ:FISV) had its target price hoisted by equities researchers at Citigroup from $62.00 to $67.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Citigroup‘s price target points to a potential upside of 5.38% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Fiserv from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 4th. B. Riley Financial restated a “neutral” rating and issued a $60.00 price target (up from $51.00) on shares of Fiserv in a research note on Wednesday, November 4th. Weiss Ratings lowered Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods upped their price target on Fiserv from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. Finally, UBS Group increased their price target on Fiserv from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Six investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $64.64.

Fiserv Stock Performance

Shares of NASDAQ:FISV traded up $0.26 during trading on Wednesday, hitting $63.58. 3,174,520 shares of the stock traded hands, compared to its average volume of 7,620,966. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.22. The company has a fifty day moving average price of $49.75 and a two-hundred day moving average price of $54.56. Fiserv has a 52-week low of $43.87 and a 52-week high of $70.41. The company has a market cap of $33.83 billion, a price-to-earnings ratio of -8.57, a P/E/G ratio of 5.65 and a beta of 0.85.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.03. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.85 billion. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. Fiserv’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities analysts predict that Fiserv will post 7.27 EPS for the current year.

Hedge Funds Weigh In On Fiserv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FISV. BlackRock Inc. acquired a new stake in shares of Fiserv in the second quarter valued at about $2,079,711,000. Deutsche Bank AG purchased a new position in Fiserv in the 2nd quarter valued at about $178,310,000. Legal & General Group Plc acquired a new stake in Fiserv in the 2nd quarter worth about $161,557,000. Bank of New York Mellon Corp acquired a new stake in Fiserv in the 2nd quarter worth about $123,177,000. Finally, Turtle Creek Asset Management Inc. increased its stake in Fiserv by 968.1% during 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 buying an additional 2,396,167 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Fiserv

Here are a few of the latest stories about FISV:

• Positive Sentiment: Fiserv launched AI-powered eCommerce tools for Clover merchants. The capabilities are designed to help small businesses establish an online presence and get discovered through traditional search and AI-powered shopping, extending Clover’s reach beyond in-store payments. Clover launch announcement
• Neutral Sentiment: Sanford C. Bernstein raised its price target to $70 from $60 but kept a “market perform” rating. Truist lifted its target to $65 from $51 and maintained “hold”; Cantor Fitzgerald also set a $65 target. The higher targets offer some potential upside, but the ratings signal limited near-term conviction. Bernstein analyst recommendations Truist analyst recommendations Cantor Fitzgerald price target
• Neutral Sentiment: A short-interest report describes a large increase but lists short interest at zero shares and a 0.0-day days-to-cover ratio, making the data internally inconsistent and difficult to interpret.

About Fiserv

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. The company also provides services for processing digital and in-person payments and supporting commerce across multiple channels.