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

Fiserv (NASDAQ:FISV) had its price target hoisted by TD Cowen from $49.00 to $59.00 in a report released on Wednesday,Benzinga reports. The firm currently has a hold rating on the business services provider’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 21st. UBS Group set a $60.00 target price on Fiserv and gave the stock a “neutral” rating in a research note on Friday, August 7th. BMO Capital Markets set a $48.00 price target on Fiserv and gave the stock a “market perform” rating in a report on Tuesday, October 27th. Morgan Stanley boosted their price target on shares of Fiserv from $59.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Citigroup lowered their price target on shares of Fiserv from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, October 16th. Six analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.11.

Fiserv Price Performance

FISV traded up $0.14 during trading on Wednesday, reaching $62.88. The company’s stock had a trading volume of 9,729,897 shares, compared to its average volume of 5,641,700. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $49.34 and a two-hundred day simple moving average of $54.59. Fiserv has a 1 year low of $43.87 and a 1 year high of $70.41. The company has a market cap of $33.44 billion, a price-to-earnings ratio of -8.47, a PEG ratio of 5.19 and a beta of 0.85.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. William Mack & Associates Inc. acquired a new stake in Fiserv during the third quarter worth $26,000. Keating Financial Advisory Services Inc. purchased a new stake in Fiserv in the second quarter valued at $30,000. Next Level Wealth Planning LLC acquired a new position in shares of Fiserv in the 3rd quarter valued at $29,000. Osterweis Capital Management Inc. acquired a new position in shares of Fiserv in the 2nd quarter valued at $32,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Fiserv by 49.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 282 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about 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

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.