Fiserv’s (FISV) “Neutral” Rating Reiterated at B. Riley Financial

B. Riley Financial reaffirmed their neutral rating on shares of Fiserv (NASDAQ:FISV) in a research report report published on Wednesday,Benzinga reports. They currently have a $60.00 price objective on the business services provider’s stock, up from their previous price objective of $51.00.

FISV has been the topic of several other reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 target price (down from $75.00) on shares of Fiserv in a research report on Friday, August 7th. Oppenheimer lowered shares of Fiserv from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 8th. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Morgan Stanley increased their price objective on shares of Fiserv from $59.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of Fiserv from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Six investment 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $63.11.

Fiserv Stock Performance

Shares of NASDAQ FISV traded up $0.14 during midday trading on Wednesday, hitting $62.88. 9,729,897 shares of the stock traded hands, compared to its average volume of 5,641,700. The firm has a market capitalization of $33.44 billion, a P/E ratio of -8.47, a PEG ratio of 5.19 and a beta of 0.85. Fiserv has a one year low of $43.87 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a 50-day moving average of $49.34 and a two-hundred day moving average of $54.59.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data 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 company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.85 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The business’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that Fiserv will post 7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Fiserv

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marble Harbor Investment Counsel LLC increased its holdings 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 worth $12,579,000 after acquiring an additional 15,582 shares in the last quarter. Allworth Financial LP lifted its holdings in Fiserv by 21.9% during the third quarter. Allworth Financial LP now owns 7,081 shares of the business services provider’s stock valued at $347,000 after purchasing an additional 1,272 shares in the last quarter. Eurizon Capital SGR S.p.A. lifted its holdings in 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 valued at $3,007,000 after purchasing an additional 3,951 shares in the last quarter. Banyan Capital Management Inc. purchased a new position in Fiserv during the third quarter valued at approximately $5,503,000. Finally, Maryland State Retirement & Pension System boosted its position in shares of Fiserv by 9.3% in 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 purchasing an additional 2,743 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Key Fiserv News

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.