Fiserv: Shares Appear Fairly Valued, Says Oppenheimer

In a research report issued Wednesday, Oppenheimer analyst Glenn Greene reiterated a Perform rating on Fiserv (NASDAQ:FISV). No price target was provided.

Greene noted, “FISV posted solid 3Q14 results, in our view, with in-line revenue while EPS grew 10% to $0.86 (beat our $0.83 estimate) but benefited by ~$0.05 from higher Y/Y term. fees and a lower than anticipated tax rate. Organic revenue grew ~5% Y/Y (~4% ex term-fee benefit). Sales growth was impressive at 27% Y/Y and is tracking up 14% YTD, which should provide improved visibility toward FY15 growth. Management remains optimistic regarding further growth acceleration into FY15 and continued healthy annual margin expansion. FISV maintained its FY14 revenue guidance and tightened its EPS growth outlook to 12-13%. We are encouraged by FISV’s strong sales results and optimistic tone heading into FY15. However, shares appear fairly valued, in our view.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Glenn Greene has a total average return of 18.9% and a 83.3% success rate. Greene is ranked #227 out of 3350 analysts.

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