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

Fiserv (NASDAQ:FISV) had its price objective upped by Sanford C. Bernstein from $60.00 to $70.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the business services provider’s stock.

Other equities analysts have also issued research reports about the stock. TD Cowen boosted their price target on shares of Fiserv from $49.00 to $59.00 and gave the company a “hold” rating in a report on Wednesday, November 4th. Oppenheimer cut Fiserv from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 8th. UBS Group raised their price target on Fiserv from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Truist Financial boosted their price objective on Fiserv from $51.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $54.00 target price on shares of Fiserv in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Fiserv currently has an average rating of “Hold” and an average price target of $64.64.

Fiserv Price Performance

Shares of FISV stock opened at $63.78 on Wednesday. The firm has a market cap of $33.93 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 5.11 and a beta of 0.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.22. Fiserv has a 12 month low of $43.87 and a 12 month high of $70.41. The stock has a 50-day moving average price of $50.41 and a 200 day moving average price of $54.50.

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, topping the consensus estimate of $1.72 by $0.03. Fiserv had a positive return on equity of 15.76% and a negative net margin of 18.91%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.85 billion. Fiserv’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Fiserv will post 7.29 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its holdings in Fiserv by 16.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider’s stock worth $8,638,000 after acquiring an additional 25,477 shares during the last quarter. Stanley Capital Management LLC bought a new position in shares of Fiserv during the second quarter valued at approximately $6,159,000. Renaissance Technologies LLC boosted its stake in shares of Fiserv by 437.5% during the 1st quarter. Renaissance Technologies LLC now owns 668,227 shares of the business services provider’s stock valued at $37,287,000 after purchasing an additional 543,900 shares in the last quarter. Woodstock Corp raised its position in shares of Fiserv by 20.3% in the 3rd quarter. Woodstock Corp now owns 131,739 shares of the business services provider’s stock worth $5,952,000 after acquiring an additional 22,256 shares in the last quarter. Finally, Paralel Advisors LLC purchased a new stake in shares of Fiserv in the 2nd quarter worth about $2,031,000. 90.98% of the stock is currently owned by institutional investors.

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. The company also provides services for processing digital and in-person payments and supporting commerce across multiple channels.