Financial technology services provider Fiserv, Inc. (NASDAQ: FISV) recently revealed that it has signed a partnership agreement with consumer credit reporting agency Equifax Inc. (NYSE: EFX) to empower businesses with real-time data insights.
Following the news, shares of the company declined marginally to close at $102.40 in Tuesday’s extended trading session. The stock was up almost 2.6% in the normal trading hours.
The partnership aims at the deployment of joint commercial solutions that leverage new analytics to strengthen business verification, accelerate account acquisition and enhance risk assessment for small-to-medium sized businesses. The companies have plans to serve the consumer ecosystem in the future.
With Fiserv’s expertise in financial transactions and Equifax’s powerful suite of differentiated data assets, business customers of all sizes are likely to benefit by being able to better manage their data and serve their customers more efficiently.
Recently, Robert W. Baird analyst David Koning reiterated a Buy rating on the stock with a price target of $144, which implies upside potential of 40.6% from current levels.
Consensus among analysts is a Strong Buy based on nine Buys and three Holds. FISV’s average price target of $128.83 implies upside potential of 25.8% from current levels. Shares have declined 17.8% over the past year.
Hedge Funds’ Confidence
TipRanks’ Hedge Fund Trading Activity tool shows that hedge fund confidence in Fiserv is currently Very Positive. Moreover, the cumulative change in holdings across all 27 hedge funds that were active in the last quarter was an increase of 14.6 million shares.
Data management for businesses, irrespective of size, is a critical component of their success. Taking this into account, the coming together of Fiserv and Equifax is expected to make the process of data management easier for corporations.
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