Fiserv (NASDAQ:FISV) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Fiserv from “strong sell” to “hold.” Overall analyst sentiment is also “hold,” with 20 holds, six buys, and four sells, and an average price target of $63.11.
• Fiserv reported quarterly EPS of $1.75, beating the $1.72 consensus estimate, while revenue of $4.85 billion matched expectations.
• Revenue was down 1.3% year over year, even as some analysts raised price targets, including KBW to $70 and UBS to $68.

Fiserv (NASDAQ:FISV - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Thursday, Zacks reports.

A number of other equities analysts also recently issued reports on the company. Cantor Fitzgerald cut their price target on Fiserv from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, October 16th. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an "equal weight" rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on shares of Fiserv from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday. Citigroup increased their price objective on shares of Fiserv from $53.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, 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. 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.11.

Fiserv Stock Up 0.2%

NASDAQ:FISV opened at $62.88 on Thursday. The stock has a market capitalization of $33.44 billion, a P/E ratio of 6.78, a P/E/G ratio of 5.19 and a beta of 0.85. Fiserv has a fifty-two week low of $43.87 and a fifty-two week high of $70.41. The company's 50-day simple moving average is $49.34 and its 200-day simple moving average is $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 - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.85 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. Fiserv's revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that Fiserv will post 7.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fiserv

A number of institutional investors have recently made changes to their positions in the stock. Marble Harbor Investment Counsel LLC lifted its position in Fiserv by 5.9% in the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 278,423 shares of the business services provider's stock valued at $12,579,000 after acquiring an additional 15,582 shares in the last quarter. Allworth Financial LP raised its position in shares of Fiserv by 21.9% in the third quarter. Allworth Financial LP now owns 7,081 shares of the business services provider's stock valued at $347,000 after buying an additional 1,272 shares during the last quarter. Eurizon Capital SGR S.p.A. boosted its position in shares of Fiserv by 6.3% during the third quarter. Eurizon Capital SGR S.p.A. now owns 66,474 shares of the business services provider's stock worth $3,007,000 after buying an additional 3,951 shares during the period. Banyan Capital Management Inc. purchased a new position in shares of Fiserv in the 3rd quarter valued at $5,503,000. Finally, Maryland State Retirement & Pension System grew its position in Fiserv by 9.3% during the third quarter. Maryland State Retirement & Pension System now owns 32,371 shares of the business services provider's stock worth $1,463,000 after buying an additional 2,743 shares during the period. Institutional investors own 90.98% of the company's stock.

Key Stories Impacting Fiserv

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, Inc is a global financial technology company that provides payment, banking, and commerce solutions to financial institutions, merchants, and other businesses. Its services support electronic payments, card processing, digital banking, account processing, fraud prevention, and related financial workflows.

The company's offerings include merchant acceptance and payments technology, issuer processing, digital banking platforms, core account-processing systems, electronic bill payment, and data-driven financial services.

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