Fiserv's wide moat allows for significant cross-selling opportunities.
Wide-moat-rated Fiserv finished 2016 generating sales of $1.4 billion, a year-over-year increase of 4.6%. Operating income grew 14% to $375 million during the year. Both sales and operating income came in near our 2016 expectations for the company. However, net income was a little higher than we originally forecast for 2016, mostly as a result of income from an unconsolidated affiliate. For 2016, adjusted EPS grew 14.5% to $4.43. Management likes to trumpet that this is the 31st consecutive year...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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