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

Fiserv (NASDAQ:FISV) had its target price boosted by Keefe, Bruyette & Woods from $60.00 to $70.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group restated a “neutral” rating and set a $54.00 price objective on shares of Fiserv in a research report on Friday, August 7th. UBS Group set a $60.00 price target on shares of Fiserv and gave the company a “neutral” rating in a research report on Friday, August 7th. TD Cowen cut their price target on shares of Fiserv from $55.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, October 9th. Susquehanna reduced their target price on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Finally, Barclays set a $50.00 price objective on Fiserv and gave the company an “equal weight” rating in a report on Friday, October 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.com, Fiserv has a consensus rating of “Hold” and a consensus price target of $63.11.

Fiserv Trading Up 0.2%

Shares of Fiserv stock opened at $62.88 on Wednesday. Fiserv has a fifty-two week low of $43.87 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $49.34 and a 200 day moving average of $54.59. The company has a market capitalization of $33.44 billion, a P/E ratio of -8.47, a P/E/G ratio of 5.19 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, beating analysts’ consensus estimates of $1.72 by $0.03. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.85 billion. Fiserv’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Fiserv will post 7.26 earnings per share for the current fiscal year.

Institutional Trading of Fiserv

Several hedge funds and other institutional investors have recently bought and sold shares of FISV. Legacy Wealth Asset Management LLC raised its position in Fiserv by 3.3% in the second quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider’s stock valued at $303,000 after purchasing an additional 195 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Fiserv by 10.4% during the first quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider’s stock worth $128,000 after buying an additional 215 shares in the last quarter. Intelligence Driven Advisers LLC increased its position in shares of Fiserv by 4.0% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 6,553 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 250 shares during the last quarter. Plan A Wealth LLC lifted its holdings in Fiserv by 4.2% during the third quarter. Plan A Wealth LLC now owns 6,832 shares of the business services provider’s stock valued at $309,000 after purchasing an additional 277 shares during the last quarter. Finally, Gilpin Wealth Management LLC lifted its stake in Fiserv by 22.6% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,525 shares of the business services provider’s stock worth $69,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Key Fiserv News

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.