Fiserv Inc Stock Price, News & Analysis

The Fiserv Small Business Index for November 2024 reported significant growth in small business performance. The national index stood at 144, showing year-over-year increases in both sales (+4.8%) and transactions (+9.1%). Restaurant sector showed strong performance with sales up 8.1% and foot traffic up 8.7% year-over-year. Retail maintained positive momentum with 5.6% sales growth and 9.5% transaction growth compared to 2023. Regionally, Nebraska led state-wise growth at 13.1%, followed by Florida at 11.5%. Among major cities, Miami (+11.4%) and Atlanta (+7.5%) showed the strongest small business sales growth year-over-year.

Fiserv (NYSE: FI) and ADP (Nasdaq: ADP) announced a strategic partnership to integrate their small business solutions. The collaboration will combine ADP's RUN payroll and HR platform with Fiserv's Clover management system and CashFlow Central platform. 87 percent of small business owners expressed interest in a unified business management system, according to Fiserv research. The integrated solution will offer U.S.-based small businesses comprehensive capabilities across payroll, cash management, and payments. The partnership will begin this quarter with services launching in early 2025.

Fiserv (NYSE: FI) has announced its participation in two upcoming investor conferences. Chief Financial Officer Bob Hau will present at the UBS Global Technology Conference on December 4 at 4:15 p.m. ET. Additionally, Chairman, President, and CEO Frank Bisignano will present at the Raymond James TMT & Consumer Conference on December 10 at 11:20 a.m. ET. Both presentations will be available via live webcasts and archived replays on the company's investor relations website at investors.fiserv.com.

Genesis Bank, through its Genesis for Good Foundation, announced its first round of grant awards to five small businesses through the Catalyst Empowerment Grant Program. The program provides grants up to $10,000 to eligible small businesses, focusing on historically marginalized and underinvested entrepreneurs across Southern California. The initiative received support from Fiserv, Inc., Federal Home Loan Bank of San Francisco, and CVB Financial Corp. Grant recipients include Gutierrez Chiropractic, Prisma Communications, San & Wolves Bakeshop, Spark Studios, and Vinos Unidos, each receiving funds for specific business expansion and improvement projects.

Genesis for Good Foundation (GFG) has been awarded a $100,000 grant from the Federal Home Loan Bank of San Francisco's AHEAD Program, in partnership with Citizens Business Bank. The grant will support GFG's Catalyst Empowerment Grant Program, which provides up to $10,000 to eligible small businesses in Southern California's low to moderate-income communities. The program focuses on supporting historically marginalized and underinvested entrepreneurs by providing essential resources, capacity building, networking opportunities, education, and capital. Genesis Bank, as one of only five diverse, multiracial Minority Depository Institutions among approximately 4,600 U.S. banks, collaborated with Citizens Business Bank to secure this competitive grant.

The Fiserv Small Business Index rose to 147 in October 2024, marking one of the highest values since January 2019. Small business performance showed strong growth with sales increasing 7.1% year-over-year and 3.7% month-over-month, while transactions grew 8.8% year-over-year and 3.0% month-over-month. Retail trade performed particularly well, with the index reaching 150. Notable retail growth was seen in General Merchandise (+11.4%), Food and Beverage (+8.4%), and Furniture (+7.8%). Restaurants showed positive trends with 5.9% sales growth and 7.6% increased foot traffic year-over-year. Service-based businesses grew 7.4% compared to 2023, with Professional Services leading at 13.7% growth.

Melio, a B2B payments platform, has secured $150 million in Series E funding led by Fiserv, with participation from Shopify Ventures and Capital One Ventures. The round values Melio at $2 billion, following a ten-fold revenue increase over three years. The funding will support partnership growth, building on their existing collaboration with Fiserv through CashFlow Central℠, which serves over 3,500 financial institutions. Melio's platform integrates cash flow management, accounts receivable, and accounts payable solutions for small and medium-sized businesses.

Fiserv (NYSE: FI) has unveiled enhanced Clover solutions targeting restaurants, retailers, and service businesses. The all-in-one platform combines specialized hardware with industry-specific software to help small businesses optimize operations and growth. The enhanced suite includes new features for restaurant management, comprehensive appointment booking for service businesses, and omnichannel integration for retailers. The solution introduces new hardware options like Clover Compact and Flex Pocket, alongside integrated capabilities for employee management, payroll, and customer loyalty programs. Financial solutions include cash discounting, cash advance, and instant transfer options.

Fiserv (NYSE: FI) reported strong financial results for Q3 2024. GAAP revenue grew 7% to $5.22 billion, with Merchant Solutions up 9% and Financial Solutions up 5%. Organic revenue growth was 15%, driven by 24% growth in Merchant Solutions. Adjusted EPS increased 17% to $2.30, while GAAP EPS decreased 37% to $0.98 due to a $570 million non-cash impairment charge.

The company raised its 2024 outlook, projecting organic revenue growth of 16-17% and adjusted EPS of $8.73-$8.80. Free cash flow increased 23% to $3.34 billion year-to-date. Fiserv repurchased 7.6 million shares for $1.3 billion in Q3. The company was named the #1 global financial technology provider on the 2024 IDC FinTech Top 100 Rankings for the second consecutive year.