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Fiserv Inc FISV

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Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Fiserv Bounces Back in Second Quarter

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

Narrow-moat Fiserv posted strong second-quarter results, with internal revenue (which excludes divestitures, pass-through items, and currency impacts) up 18% year over year and strong margin improvement. While strong year-over-year results were largely due to comparisons against the lowest point of the pandemic, we see some positive signs even after adjusting for this. We will maintain our $119 fair value estimate.

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Company Profile

Business Description

Fiserv is a leading provider of core processing and complementary services, such as electronic funds transfer, payment processing, and loan processing, for U.S. banks and credit unions, with a focus on small and midsize banks. Through the merger with First Data in 2019, Fiserv now provides payment processing services for merchants. About 10% of the company’s revenue is generated internationally.

Contact
255 Fiserv Drive
Brookfield, WI, 53045
T +1 262 879-5000
Sector Technology
Industry Information Technology Services
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 44,000

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