Fiserv (NASDAQ:FISV) Price Target Raised to $61.00

Fiserv (NASDAQ:FISV) had its price target lifted by Morgan Stanley from $59.00 to $61.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other research analysts have also recently commented on FISV. The Goldman Sachs Group restated a “neutral” rating and set a $54.00 price target on shares of Fiserv in a research note on Friday, August 7th. Bank of America assumed coverage on Fiserv in a report on Thursday, October 15th. They set an “underperform” rating and a $48.00 price objective for the company. TD Cowen reduced their target price on shares of Fiserv from $55.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. Cantor Fitzgerald lowered their target price on shares of Fiserv from $53.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, October 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Fiserv from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.11.

Fiserv Stock Performance

Shares of NASDAQ:FISV traded up $0.14 during trading on Wednesday, hitting $62.88. 9,729,897 shares of the stock were exchanged, compared to its average volume of 5,641,700. The company has a market capitalization of $33.44 billion, a price-to-earnings ratio of -8.47, a price-to-earnings-growth ratio of 5.19 and a beta of 0.85. 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 has a 1-year low of $43.87 and a 1-year high of $70.41. The company’s fifty day simple moving average is $49.34 and its 200-day simple moving average is $54.59.

Fiserv (NASDAQ:FISV) last issued its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 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 analysts’ expectations of $4.85 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts expect that Fiserv will post 7.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. William Mack & Associates Inc. acquired a new position in shares of Fiserv during the third quarter valued at $26,000. Next Level Wealth Planning LLC acquired a new stake in Fiserv in the third quarter worth about $29,000. Keating Financial Advisory Services Inc. bought a new stake in Fiserv during the 2nd quarter worth about $30,000. Osterweis Capital Management Inc. bought a new stake in Fiserv during the 2nd quarter worth about $32,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its position in Fiserv by 49.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 282 shares during the period. 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

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.