Leadership Changes Cloud Fiserv Inc.’s (FISV) Turnaround, Says Citi

Fiserv, Inc. (NASDAQ:FISV) is among the undervalued software stocks to buy now. On July 10, Bryan Keane from Citi cut the price target on Fiserv, Inc. (NASDAQ:FISV) to $57 from $60 and reiterated a Neutral rating. The analyst notes that although leadership changes introduce additional uncertainty to the turnaround, the departures are “not really surprising.” The firm believes strategic direction and operational focus presented at the investor day “should continue to serve as meaningful guideposts.”

Recently, several other analysts revised their outlook on Fiserv, Inc. (NASDAQ:FISV). On July 9, Goldman Sachs analyst Will Nance trimmed the price target on the company to $60 from $70 and reaffirmed a Neutral rating. In a research note, the analyst said that the Payments group is comparatively in a stronger position as it enters Q2 earnings, despite poor YTD performance.

Similarly, Wells Fargo lowered the price target on Fiserv, Inc. (NASDAQ:FISV) to $56, down from $62, on the same day. The firm thinks that Q2 projections are achievable, yet it expects limited upside for the shares due to a steep second-half ramp and an unexpected CEO change. With that said, the firm has an Equal Weight rating on the shares.

Fiserv, Inc. (NYSE:FISV) is a Wisconsin-based provider of financial services technology. The company offers various products and services, including payment and mobile banking systems, account processing systems, and financial solutions.

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