Fiserv (NASDAQ:FISV – Free Report) had its target price raised by Citigroup from $53.00 to $62.00 in a report published on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the business services provider’s stock.
Several other research firms also recently commented on FISV. Oppenheimer downgraded Fiserv from an “outperform” rating to a “market perform” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Fiserv from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday. Truist Financial set a $51.00 price target on shares of Fiserv and gave the company a “hold” rating in a report on Friday, October 23rd. Royal Bank Of Canada lifted their price target on shares of Fiserv from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, TD Cowen lifted their price target on shares of Fiserv from $49.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.11.
Check Out Our Latest Research Report on FISV
Fiserv Stock Up 0.2%
Shares of FISV traded up $0.14 on Wednesday, hitting $62.88. 9,729,897 shares of the stock traded hands, compared to its average volume of 5,641,700. Fiserv has a one year low of $43.87 and a one year high of $70.41. The company has a market capitalization of $33.44 billion, a PE ratio of -8.47, a P/E/G ratio of 5.19 and a beta of 0.85. The business has a 50 day simple moving average of $49.34 and a 200 day simple moving average of $54.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04.
Fiserv (NASDAQ:FISV – Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.03. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Fiserv will post 7.26 earnings per share for the current fiscal year.
Institutional Trading of Fiserv
Several large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Fiserv during the second quarter valued at $2,079,711,000. Deutsche Bank AG bought a new position in Fiserv in the second quarter valued at about $178,310,000. Legal & General Group Plc bought a new position in Fiserv in the second quarter valued at about $161,557,000. Bank of New York Mellon Corp purchased a new position in Fiserv in the second quarter worth about $123,177,000. Finally, Turtle Creek Asset Management Inc. boosted its position 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 worth $147,517,000 after purchasing an additional 2,396,167 shares during the last quarter. Institutional investors 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.
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