Fiserv (NASDAQ:FISV) Price Target Raised to $68.00

Fiserv (NASDAQ:FISV) had its price target boosted by UBS Group from $60.00 to $68.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the business services provider’s stock.

FISV has been the topic of a number of other reports. TD Cowen raised their price target on shares of Fiserv from $49.00 to $59.00 and gave the company a “hold” rating in a research note on Wednesday. Citigroup boosted their price objective on Fiserv from $53.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Fiserv from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group restated a “neutral” rating and issued a $54.00 target price on shares of Fiserv in a research report on Friday, August 7th. Finally, Morgan Stanley lifted their price target on Fiserv from $59.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Six research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.11.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.14 during trading hours 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 stock’s 50 day moving average is $49.34 and its 200 day moving average is $54.59. The firm has a market capitalization of $33.44 billion, a PE ratio of -8.47, a PEG ratio of 5.19 and a beta of 0.85. Fiserv has a twelve month low of $43.87 and a twelve month high of $70.41. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 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 firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.85 billion. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts expect that Fiserv will post 7.26 earnings per share for the current fiscal year.

Institutional Trading of Fiserv

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Fiserv in the second quarter valued at approximately $2,079,711,000. JANA Partners Management LP grew its holdings in Fiserv by 97.5% in the 1st quarter. JANA Partners Management LP now owns 4,435,605 shares of the business services provider’s stock valued at $247,507,000 after buying an additional 2,190,085 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Fiserv in the 2nd quarter worth $178,310,000. Legal & General Group Plc acquired a new stake in shares of Fiserv in the 2nd quarter worth $161,557,000. Finally, Turtle Creek Asset Management Inc. raised its holdings in shares of Fiserv by 968.1% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider’s stock worth $147,517,000 after acquiring an additional 2,396,167 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

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

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.