Fiserv Inc

FI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$132.00	Jxmppy	Rbvddzhb

Fiserv Has Enjoyed Relatively Strong Recent Performance

Brett Horn

Mar 30, 2023

Business Strategy and Outlook

Fiserv’s merger with First Data in 2019 kicked off a string of three similar deals that took place in short order. We don’t believe Fiserv’s move was especially attractive relative to the other two, and we don’t believe the company materially strengthened its competitive position as a result. However, we do think there was a valid strategic rationale for these deals.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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United States