Fiserv (FISV) in Oakmark Global Select Fund Q1 2024

Leading Growth in Merchant Acquiring and Banking Software

Apr 15, 2025

Summary

Strong performance in merchant acquiring and issuer processing services.
Peer-leading organic growth and margin expansion under CEO Frank Bisignano.
Mid-teens earnings-per-share growth achieved.
Shares trade at a discount to the S&P 500 Index.
Potential for continued impressive results over the medium term.

In the Oakmark Global Select Fund's 1st-Quarter Commentary 2024, Fiserv (FISV, Financial) was highlighted as a top contributor. The company, under the leadership of CEO Frank Bisignano, has excelled in merchant acquiring, issuer processing services, and core banking software. Fiserv has demonstrated peer-leading organic growth, significant margin expansion, and mid-teens earnings-per-share growth, making it a standout performer in the fund's portfolio.

"During the time we have held the stock, Fiserv, under the leadership of CEO Frank Bisignano, has delivered peer-leading organic growth, meaningful margin expansion, and mid-teens earnings-per-share growth. We believe the company can deliver similarly impressive results over the medium term, yet today the shares still trade at a meaningful discount to the S&P 500 Index. We believe that Fiserv is performing well and remains an attractive investment." — David Herro (Trades, Portfolio), Oakmark Global Select Fund, Q1 2024 Fund Letter

Read full letter at gurufocus David Herro's Oakmark Global Select Fund 1st-Quarter Commentary 2024 Q1 page.

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