Fiserv (NASDAQ:FISV) Given New $70.00 Price Target at Sanford C. Bernstein

Fiserv (NASDAQ:FISV) had its price objective hoisted by Sanford C. Bernstein from $60.00 to $70.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. Sanford C. Bernstein‘s target price points to a potential upside of 10.34% from the stock’s current price.

FISV has been the topic of a number of other reports. Bank of America began coverage on Fiserv in a research report on Thursday, October 15th. They issued an “underperform” rating and a $48.00 price objective on the stock. TD Cowen boosted their target price on Fiserv from $49.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods upped their price target on Fiserv from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, November 4th. Morgan Stanley raised their price target on Fiserv from $59.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. Finally, Weiss Ratings lowered Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 21st. Six research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.46.

Fiserv Price Performance

Shares of FISV stock traded up $0.12 during trading hours on Wednesday, reaching $63.44. 2,608,752 shares of the company were exchanged, compared to its average volume of 7,618,017. Fiserv has a fifty-two week low of $43.87 and a fifty-two week high of $70.41. The stock’s fifty day moving average is $49.75 and its two-hundred day moving average is $54.56. The company has a market cap of $33.75 billion, a price-to-earnings ratio of -8.55, a P/E/G ratio of 5.65 and a beta of 0.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.72 by $0.03. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. Fiserv’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts forecast that Fiserv will post 7.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FISV. Legacy Wealth Asset Management LLC grew its stake in shares of Fiserv by 3.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider’s stock worth $303,000 after purchasing an additional 195 shares during the period. Sunbelt Securities Inc. lifted its stake in Fiserv by 10.4% in the first quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider’s stock valued at $128,000 after buying an additional 215 shares during the period. Banco Santander S.A. boosted its holdings in Fiserv by 2.0% during the third quarter. Banco Santander S.A. now owns 11,162 shares of the business services provider’s stock worth $504,000 after buying an additional 217 shares during the last quarter. Intelligence Driven Advisers LLC boosted its holdings in Fiserv by 4.0% during the third quarter. Intelligence Driven Advisers LLC now owns 6,553 shares of the business services provider’s stock worth $296,000 after buying an additional 250 shares during the last quarter. Finally, Plan A Wealth LLC boosted its holdings in Fiserv by 4.2% during the third quarter. Plan A Wealth LLC now owns 6,832 shares of the business services provider’s stock worth $309,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.