See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Fidelity National Information Services, Inc. (FIS) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fidelity National Information Services, Inc. (FIS) - free report >>
Image: Bigstock
Fiserv (FISV) Scales 52-Week High on Solid Growth Prospects
Fiserv, Inc. reached a new 52-week high of $106.65 in yesterday’s trading session. Its shares have been rising since May 5 when the company announced its first quarter 2016 results. In addition, the company made a couple of collaboration-related announcements, which increased investor’s optimism.
Fiserv has extended its 16-year old credit processing contract with John Deere Financial, a division of Deere & Company (DE - Free Report) by another 10 years. This apart, the company revealed that its Mobiliti Edge based solutions have been selected by the Bangkok Bank to enable mobile banking services for its clients.
Fiserv holds a dominant position in the financial and payments solutions business. In the recently announced first quarter results the company managed to deliver strong bottom line numbers despite soft top line growth. Moreover, the company has a strong pipeline and expanding margins, which allowed it to reaffirm its earnings and revenue guidance for 2016.
Fiserv has also made a couple of strategic acquisitions in the first quarter, ACI Worldwide’s Community and Billers Solutions, which would allow it to expand its product portfolio further over the long run.
In the past 30 days, upward estimate revisions have pushed up the Zacks Consensus Estimate for 2016 by 0.7% to $4.42 per share, while for 2017 it inched up 0.4% to $4.97. Moreover, in the same period, the company’s shares jumped over 8% compared with a gain of approximately 2% in the S&P 500 index.
Nonetheless, the company’s highly leveraged balance sheet and stiff competition from peers like Equifax Inc. (EFX - Free Report) , Fidelity National Information Services, Inc. (FIS - Free Report) and Global Payments Inc remain concerns.
Currently, Fiserv has a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>