Fiserv Posts Another Steady Quarter of Growth and Margin Expansion
Wide-moat Fiserv began 2017 with results that mostly matched our expectations for the year. Adjusted EPS was $1.25 compared with $1.06 a year ago. Sales grew 4.7% year over year during the quarter, slightly below our expectations. For 2017, we continue to expect the company to grow top-line revenue by 5.4%, as revenue is likely to accelerate as clients signed in 2016 begin to ramp up. Despite the first quarter’s good results and our expectations for continued prosperity at Fiserv, we're maintain...Fiserv is a provider of financial services technology. The company provides account processing systems, electronic payments processing products and services, internet and mobile banking systems, and related services. The company's segments are: First Data, which provides merchant acquiring, e-commerce, mobile commerce, and other business solutions; Payments and Industry Products, which provides electronic bill payment and presentment services, internet and mobile banking software; and Financial Institution Services, which provides financial institutions with account processing services, item processing and source capture services, loan origination and servicing products, and cash management, among others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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