Fiserv (NASDAQ:FISV) Price Target Raised to $70.00

Fiserv (NASDAQ:FISV) had its price target hoisted by Royal Bank Of Canada from $65.00 to $70.00 in a research report released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the business services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Susquehanna decreased their price target on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research report on Friday, August 7th. Oppenheimer lowered Fiserv from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 8th. Stephens began coverage on Fiserv in a report on Tuesday, August 11th. They set an “equal weight” rating and a $57.00 target price on the stock. UBS Group set a $60.00 price target on Fiserv and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company set a $56.00 price target on Fiserv and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.11.

Fiserv Price Performance

FISV traded up $0.14 on Wednesday, reaching $62.88. The stock had a trading volume of 9,729,897 shares, compared to its average volume of 5,641,700. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $33.44 billion, a price-to-earnings ratio of -8.47, a price-to-earnings-growth ratio of 5.19 and a beta of 0.85. Fiserv has a fifty-two week low of $43.87 and a fifty-two week high of $70.41. The firm has a 50-day moving average of $49.34 and a 200-day moving average of $54.59.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data 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 net margin of 13.42% and a return on equity of 15.80%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Fiserv will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Fiserv during the 2nd quarter valued at about $2,079,711,000. JANA Partners Management LP increased its holdings in Fiserv by 97.5% in the first quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock worth $247,507,000 after purchasing an additional 2,190,085 shares in the last quarter. Deutsche Bank AG bought a new stake in Fiserv in the second quarter worth approximately $178,310,000. Legal & General Group Plc bought a new stake in Fiserv in the second quarter worth approximately $161,557,000. Finally, Turtle Creek Asset Management Inc. lifted its stake in Fiserv by 968.1% in the first quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock valued at $147,517,000 after buying an additional 2,396,167 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Key Stories 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.