) recently announced that its CorPoint Deposit Manager, cash
management solution platform has been selected by Valero Retail
Holdings, Inc. for its retail outlets in North America. An
armored-carrier agnostic remote cash capture solution and
smart-safe hardware devices are to be installed at these stores by
Valero as per this contract.
Through this application, Fiserv will provide an inexpensive
user-friendly solution which would give Valero's central office
access to real-time information on gas and various merchandise
sales and inventory information at its retail outlets. This would
not only eliminate communication gaps between Valero's head-office
and its retail stores but the advanced system shall also be
installed in the most risk-free and simple manner at the units.
Fiserv reported financial results for its first quarter of 2012
on May 1, 2012. Record first quarter sales came in at around $1
billion, surging 5.3% annually, driven by improved yields across
segments pervasively. A marginal yearly rise in operating margin
was also observed to reach 28.7% in the first quarter of 2012.
The company looks to be in good shape to combat market
fluctuations and certain perennial downsides with its strong
outlook for 2012. Along with a margin hike, Fiserv expects adjusted
revenue to grow at a rate of 4% - 6% for the full year.
On the other hand, on March 28, 2012,
) announced that its integrated wealth management solution has been
selected by Spire Investment Partners, LLC. to better cater to its
customer needs. Also, on April 17, 2012 CITGO Petroleum Corporation
extended its debit and credit card processing services contract
Heartland Payment Systems
) for three consecutive years. So, it is imperative that Fiserv,
instead of being too complacent about its current state of affairs,
strives towards continuing the saga of contract wins in order to
retain its formidable position in the industry.
The company currently retains a Zacks #3 Rank, which translates
into a short-term 'Hold' rating. We also maintain a long-term
'Neutral' recommendation on the stock.
ENVESTNET INC (ENV): Free Stock Analysis Report
FISERV INC (FISV): Free Stock Analysis Report
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