Fiserv had a decent quarter on the revenue front and delivered a double-digit growth as it continues to demonstrate the strength of its client base. However, the company missed out on earnings. Merchants took advantage of the more value-added business, continued to deliver better experiences, and opened up new businesses. In general macro trends, the company saw that consumers issued new credit, continued to spend, and activated more cards. Financial institutions invested in new products and upgraded their systems to capture efficiencies and better compete. The Issuer Solutions business of the company, which includes credit processing for large issues and statement and card services, was particularly strong. Also, Fiserv was awarded another quarter with California State Comptroller for the cards that support different disbursement needs. The company rolled out various products to enhance customer authorization and merchant experience. The enterprise omnichannel operating system of the company, Carat, launched new money flows as well as continued to lead the market in flexibility and payout choice. Clover Sport signed an act with the Smoothie King Center and Caesars Superdome in New Orleans, adding more than 250 colleges and professional-level sports venues. The company also collaborated with Deutsche Bank to launch Vert, a banking and comprehensive payment acceptance service provider to SMBs. Overall, we provide the stock of Fiserv with a ‘Hold’ rating with a revision in the target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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