Fiserv (NASDAQ:FISV) Price Target Raised to $65.00

Fiserv (NASDAQ:FISV) had its price objective increased by Truist Financial from $51.00 to $65.00 in a research report released on Tuesday,Benzinga reports. They currently have a hold rating on the business services provider’s stock.

FISV has been the subject of a number of other reports. UBS Group raised their price target on Fiserv from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Keefe, Bruyette & Woods boosted their price objective on Fiserv from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, November 4th. Barclays increased their price objective on Fiserv from $50.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. Susquehanna cut their target price on Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Finally, Oppenheimer lowered Fiserv from an “outperform” rating to a “market perform” rating in a report on Thursday, October 8th. Six analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.64.

Fiserv Stock Performance

Shares of FISV stock opened at $61.50 on Tuesday. The firm’s 50 day moving average is $50.18 and its 200 day moving average is $54.51. The stock has a market capitalization of $32.72 billion, a P/E ratio of 8.67, a PEG ratio of 5.68 and a beta of 0.85. Fiserv has a 12 month low of $43.87 and a 12 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 1.22.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.03. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.85 billion. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Fiserv will post 7.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FISV. BlackRock Inc. bought a new stake in shares of Fiserv during the 2nd quarter valued at about $2,079,711,000. Deutsche Bank AG bought a new stake in Fiserv during the second quarter valued at approximately $178,310,000. Legal & General Group Plc purchased a new position in Fiserv in the 2nd quarter worth approximately $161,557,000. Bank of New York Mellon Corp purchased a new position in Fiserv in the 2nd quarter worth approximately $123,177,000. Finally, Turtle Creek Asset Management Inc. grew its stake in Fiserv by 968.1% in 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 buying an additional 2,396,167 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Recent Fiserv Headlines

These are some of the FISV headlines that stood out recently:

• Positive Sentiment: Fiserv’s plan to generate $1 billion in savings and resume share buybacks earlier than anticipated could support profitability and shareholder returns. Fiserv Soars 26% in a Week on a $1 Billion Savings Plan: Buybacks Return “Earlier Than Anticipated”
• Positive Sentiment: Truist’s analyst sees potential for FISV shares to rise, adding a bullish note to the recent analyst commentary. Fiserv Stock Price Expected to Rise, Truist Financial Analyst Says
• Neutral Sentiment: Citigroup raised its price target to $67 and Bernstein lifted its target to $70, but both maintained neutral or market-perform ratings. Bernstein also reiterated a Hold rating, suggesting analysts see upside potential but are not signaling a strong buy consensus. Citigroup Fiserv rating Bernstein Fiserv 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. The company also provides services for processing digital and in-person payments and supporting commerce across multiple channels.