Fiserv Hits New 52-Week High on Analyst Upgrade (FISV)
Fiserv (NASDAQ:FISV) reached a new 52-week high on Thursday after Evercore Partners raised their price target on the stock from $67.00 to $76.00, AnalystRatings.NET reports. Evercore Partners currently has a conviction-buy rating on the stock. Fiserv traded as high as $65.80 and last traded at $65.38, with a volume of 464,640 shares traded. The stock had previously closed at $65.05.
A number of other analysts have also recently weighed in on FISV. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Fiserv in a research note on Wednesday, August 13th. They now have a $67.00 price target on the stock, up previously from $60.00. Separately, analysts at Monness Crespi & Hardt initiated coverage on shares of Fiserv in a research note on Wednesday, August 6th. They set a “buy” rating and a $77.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Fiserv from $64.00 to $71.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $76.58.
In other Fiserv news, CFO Thomas J. Hirsch sold 20,551 shares of Fiserv stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $64.20, for a total transaction of $1,319,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
The stock has a 50-day moving average of $62.80 and a 200-day moving average of $59.94. The company has a market cap of $16.294 billion and a P/E ratio of 23.63.
Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, July 29th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.80 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts predict that Fiserv will post $3.36 earnings per share for the current fiscal year.
Fiserv, Inc (NASDAQ:FISV) is a global provider of financial services technology.
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