Fiserv (NASDAQ:FISV) Stock Price Target Raised at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised its Fiserv price target from $48 to $65 but kept a neutral rating, implying 3.37% upside from the prior close.
• Analyst sentiment overall remains at Hold, with a consensus price target of $63.74; six analysts rate the stock Buy, 20 Hold, and four Sell.
• Fiserv beat quarterly EPS estimates by $0.03, reporting $1.75 per share, while revenue of $4.85 billion matched expectations and declined 1.3% year over year.

Fiserv (NASDAQ:FISV - Get Free Report) had its target price hoisted by equities researchers at Cantor Fitzgerald from $48.00 to $65.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 3.37% from the stock's previous close.

A number of other research firms also recently issued reports on FISV. Zacks Research raised Fiserv from a "strong sell" rating to a "hold" rating in a research report on Thursday. Royal Bank Of Canada increased their price target on Fiserv from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, November 4th. Citigroup increased their price target on Fiserv from $53.00 to $62.00 and gave the company a "neutral" rating in a research report on Wednesday, November 4th. The Goldman Sachs Group restated a "neutral" rating and issued a $54.00 price target on shares of Fiserv in a research note on Friday, August 7th. Finally, UBS Group upped their price target on shares of Fiserv from $60.00 to $68.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 4th. Six analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $63.74.

Fiserv Price Performance

Fiserv stock opened at $62.88 on Monday. The company has a market cap of $33.46 billion, a P/E ratio of -8.47, a price-to-earnings-growth ratio of 5.60 and a beta of 0.85. Fiserv has a 1-year low of $43.87 and a 1-year high of $70.41. The company has a fifty day simple moving average of $49.34 and a 200 day simple moving average of $54.59. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.85 billion. Fiserv's revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that Fiserv will post 7.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FISV. Legacy Wealth Asset Management LLC lifted its stake in Fiserv by 3.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider's stock valued at $303,000 after acquiring an additional 195 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Fiserv by 10.4% in the 1st quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider's stock worth $128,000 after acquiring an additional 215 shares in the last quarter. Intelligence Driven Advisers LLC grew its stake in shares of Fiserv by 4.0% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 6,553 shares of the business services provider's stock worth $296,000 after acquiring an additional 250 shares in the last quarter. Plan A Wealth LLC raised its holdings in shares of Fiserv by 4.2% in the third quarter. Plan A Wealth LLC now owns 6,832 shares of the business services provider's stock valued at $309,000 after purchasing an additional 277 shares during the last quarter. Finally, Gilpin Wealth Management LLC raised its holdings in shares of Fiserv by 22.6% in the third quarter. Gilpin Wealth Management LLC now owns 1,525 shares of the business services provider's stock valued at $69,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

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.

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