Fiserv Seeing Some Organic Growth
BROOKFIELD, Wis. - Fiserv's stock (FISV on the NASDAQ) hit a 52-week high of over $42 last week after it announced record first quarter earnings. Fiserv, with seven credit union data processing subsidiaries, had revenues of $882.3 million in the first quarter, up 9% over 2004. More importantly for the company may be its internal growth. Analysts have been critical of the company for not having enough internal growth, which is not too surprising for a company that has really been built on acquisitions, doing over a 100 in its history. But Fiserv's financials show it had 5% internal revenue growth in its financial segment in the first quarter. Fiserv cited two major events in the first quarter - a $345 million deal to sell its securities processing business and a 12-year agreement for check processing with three Australian banks.