Truist Financial Forecasts Strong Price Appreciation for Fiserv (NASDAQ:FISV) Stock

Key Points

• Truist raised its Fiserv price target from $51 to $65 but maintained a “hold” rating; its target implies 2.33% upside from the stock’s then-current price.
• Analyst sentiment overall is “hold,” with a consensus price target of $64.26. Six analysts rate Fiserv a buy, 20 a hold, and four a sell.
• Fiserv beat quarterly earnings expectations, reporting EPS of $1.75 versus $1.72 expected, while revenue of $4.85 billion was in line with forecasts and down 1.3% year over year.

Fiserv (NASDAQ:FISV - Get Free Report) had its target price increased by equities researchers at Truist Financial from $51.00 to $65.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "hold" rating on the business services provider's stock. Truist Financial's price objective points to a potential upside of 2.33% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods upped their price objective on Fiserv from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, November 4th. Susquehanna decreased their target price on Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a research report on Friday, August 7th. Stephens assumed coverage on shares of Fiserv in a research note on Tuesday, August 11th. They set an "equal weight" rating and a $57.00 target price for the company. Cantor Fitzgerald boosted their target price on shares of Fiserv from $48.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Barclays upped their price target on shares of Fiserv from $50.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $64.26.

Fiserv Stock Performance

Fiserv stock opened at $63.52 on Tuesday. 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 has a 1-year low of $43.87 and a 1-year high of $70.41. The firm has a market capitalization of $33.78 billion, a P/E ratio of -8.56, a price-to-earnings-growth ratio of 5.53 and a beta of 0.85. The company's 50-day moving average is $49.55 and its 200 day moving average is $54.58.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.85 billion. The business's revenue was down 1.3% on a year-over-year basis. Research analysts forecast that Fiserv will post 7.27 EPS for the current year.

Institutional Investors Weigh In On Fiserv

A number of institutional investors and hedge funds have recently bought and sold shares of FISV. BlackRock Inc. bought a new position in shares of Fiserv during the 2nd quarter worth $2,079,711,000. Deutsche Bank AG bought a new stake in shares of Fiserv in the second quarter valued at about $178,310,000. Legal & General Group Plc purchased a new stake in Fiserv in the second quarter worth about $161,557,000. Bank of New York Mellon Corp purchased a new stake in Fiserv in the second quarter worth about $123,177,000. Finally, Turtle Creek Asset Management Inc. grew its holdings in Fiserv by 968.1% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider's stock worth $147,517,000 after acquiring an additional 2,396,167 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

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.

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