Truist Financial Issues Positive Forecast for Fiserv (NASDAQ:FISV) Stock Price

Fiserv (NASDAQ:FISV) had its target price hoisted by analysts at Truist Financial from $51.00 to $65.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Truist Financial‘s target price would indicate a potential upside of 2.33% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets set a $48.00 price objective on Fiserv and gave the stock a “market perform” rating in a research note on Tuesday, October 27th. TD Cowen increased their price objective on Fiserv from $49.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, November 4th. Argus raised Fiserv from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, November 4th. Susquehanna reduced their target price on Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, August 7th. Finally, Bank of America began coverage on Fiserv in a research note on Thursday, October 15th. They issued an “underperform” rating and a $48.00 price target on the stock. Six analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.26.

Fiserv Stock Up 1.0%

Fiserv stock opened at $63.52 on Tuesday. The business has a fifty day moving average of $49.55 and a two-hundred day moving average of $54.58. 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 firm has a market cap of $33.78 billion, a P/E ratio of -8.56, a P/E/G ratio of 5.53 and a beta of 0.85. Fiserv has a twelve month low of $43.87 and a twelve month high of $70.41.

Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.03. Fiserv had a positive return on equity of 15.76% and a negative net margin of 18.91%. 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 7.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fiserv

Institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB raised its holdings in shares of Fiserv by 16.9% in the second quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider’s stock valued at $8,638,000 after buying an additional 25,477 shares during the last quarter. Stanley Capital Management LLC purchased a new position in shares of Fiserv during the second quarter worth about $6,159,000. Renaissance Technologies LLC grew its holdings in shares of Fiserv by 437.5% during the first quarter. Renaissance Technologies LLC now owns 668,227 shares of the business services provider’s stock worth $37,287,000 after buying an additional 543,900 shares during the last quarter. Woodstock Corp grew its holdings in shares of Fiserv by 20.3% during the third quarter. Woodstock Corp now owns 131,739 shares of the business services provider’s stock worth $5,952,000 after buying an additional 22,256 shares during the last quarter. Finally, Paralel Advisors LLC acquired a new position in Fiserv in the 2nd quarter valued at about $2,031,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.