Fiserv (NASDAQ:FISV) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Fiserv (NASDAQ:FISV) had its price target increased by equities researchers at Sanford C. Bernstein from $60.00 to $70.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the business services provider’s stock. Sanford C. Bernstein‘s price objective indicates a potential upside of 10.34% from the company’s current price.

FISV has been the topic of several other reports. Zacks Research upgraded shares of Fiserv from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 5th. TD Cowen increased their price target on shares of Fiserv from $49.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, November 4th. Oppenheimer cut shares of Fiserv from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 8th. Cantor Fitzgerald raised their price target on shares of Fiserv from $48.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $60.00 price objective (up from $51.00) on shares of Fiserv in a report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.46.

Fiserv Stock Performance

FISV traded up $0.12 on Wednesday, hitting $63.44. 2,608,752 shares of the stock traded hands, compared to its average volume of 7,618,017. The business has a fifty day moving average price of $49.75 and a two-hundred day moving average price of $54.56. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $33.75 billion, a PE ratio of -8.55, a P/E/G ratio of 5.65 and a beta of 0.85. Fiserv has a 52 week low of $43.87 and a 52 week high of $70.41.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data 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. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.85 billion. Fiserv had a positive return on equity of 15.76% and a negative net margin of 18.91%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts predict that Fiserv will post 7.27 EPS for the current fiscal year.

Institutional Trading of Fiserv

Hedge funds have recently modified their holdings of the company. William Mack & Associates Inc. acquired a new stake in Fiserv during the 3rd quarter valued at $26,000. Next Level Wealth Planning LLC acquired a new position in Fiserv in the third quarter worth $29,000. Keating Financial Advisory Services Inc. acquired a new position in Fiserv in the second quarter worth $30,000. Osterweis Capital Management Inc. bought a new stake in shares of Fiserv during the second quarter worth $32,000. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Fiserv by 49.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider’s stock worth $39,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.