Fiserv (NASDAQ:FISV) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Fiserv (NASDAQ:FISV) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks reports.

Several other equities research analysts have also commented on FISV. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an “equal weight” rating in a research note on Thursday, July 9th. UBS Group boosted their target price on Fiserv from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Wednesday. Truist Financial set a $51.00 target price on Fiserv and gave the company a “hold” rating in a report on Friday, October 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $54.00 price target on shares of Fiserv in a research report on Friday, August 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Fiserv from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Six 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 company presently has an average rating of “Hold” and an average target price of $63.11.

Fiserv Stock Up 0.2%

NASDAQ:FISV traded up $0.14 during trading hours on Thursday, hitting $62.88. 9,729,897 shares of the company traded hands, compared to its average volume of 5,641,700. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a market cap of $33.44 billion, a PE ratio of -8.47, a PEG ratio of 5.19 and a beta of 0.85. The firm’s 50-day simple moving average is $49.34 and its 200-day simple moving average is $54.59. Fiserv has a one year low of $43.87 and a one year high of $70.41.

Fiserv (NASDAQ:FISV) last posted its 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. The firm 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 was down 1.3% on a year-over-year basis. Equities analysts predict that Fiserv will post 7.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FISV. BlackRock Inc. bought a new position in Fiserv during the second quarter valued at $2,079,711,000. JANA Partners Management LP lifted its position in shares of Fiserv by 97.5% during 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 during the last quarter. Deutsche Bank AG bought a new position in shares of Fiserv during the 2nd quarter worth $178,310,000. Legal & General Group Plc bought a new position in shares of Fiserv during the 2nd quarter worth $161,557,000. Finally, Turtle Creek Asset Management Inc. grew its stake 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. 90.98% of the stock is owned by institutional investors.

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.