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

Fiserv (NASDAQ:FISV) had its price target upped by JPMorgan Chase & Co. from $60.00 to $65.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

FISV has been the subject of several other research reports. BMO Capital Markets set a $48.00 price target on Fiserv and gave the stock a “market perform” rating in a research report on Tuesday, October 27th. The Goldman Sachs Group restated a “neutral” rating and set a $54.00 price objective on shares of Fiserv in a research report on Friday, August 7th. Stephens began coverage on Fiserv in a research note on Tuesday, August 11th. They issued an “equal weight” rating and a $57.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on Fiserv from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup cut their target price on Fiserv from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, October 16th. Six research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.11.

Fiserv Price Performance

FISV stock traded up $0.14 during trading on Wednesday, hitting $62.88. 9,729,897 shares of the company’s stock traded hands, compared to its average volume of 5,641,700. Fiserv has a 52 week low of $43.87 and a 52 week high of $70.41. The stock has a market capitalization of $33.44 billion, a price-to-earnings ratio of -8.47, a P/E/G ratio of 5.19 and a beta of 0.85. The business has a fifty 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) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.03. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.85 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts expect that Fiserv will post 7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Fiserv

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Fiserv in the second quarter worth about $2,079,711,000. JANA Partners Management LP grew its position in Fiserv by 97.5% in 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 acquiring an additional 2,190,085 shares during the last quarter. Deutsche Bank AG bought a new position in Fiserv in the 2nd quarter valued at $178,310,000. Legal & General Group Plc purchased a new stake in Fiserv in the second quarter worth $161,557,000. Finally, Turtle Creek Asset Management Inc. lifted its position in shares of Fiserv by 968.1% during 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. 90.98% of the stock is currently owned by institutional investors.

Fiserv News Roundup

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.