Fiserv Sees Slower Organic Growth in 3Q; Acquires Elan's Debit Card Platform Seeking Scale Benefits
Wide-moat Fiserv’s results continue to come in below our expectations. For the quarter, the company produced organic revenue growth of 5% from the previous year, a slight deceleration from the previous quarter. Much of the decline in the company’s organic growth is the result of weaker performance in Fiserv’s financial segment. In addition, the company's operating margin fell to 31.3%, a decline of 100 basis points from the previous year. Management attributes this to the $690 million acquisitio...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.
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