Recently, Fiserv Inc. (FISV), a leader in global financial services technology, appointed Dennis F. Lynch to its Board of Directors.
Currently, the Chairman of the Board at Cardtronics, Lynch has contributed to the U.S. payments industry for the last 30 years. His efforts paid off well leading to increased adoption of card and payment solutions that have improved how consumers conduct financial transactions.
Meanwhile, Lynch is also a Director and former Chairman of the Secure Remote Payments Council, which aids in the acceleration of the growth, development, and market adoption of more secure ecommerce and mobile payments.
Previously, Lynch was the Chairman and Chief Executive Officer of RightPath Payments Inc. from 2005 to 2008. Between 1996 and 2004, Lynch was the President and Chief Executive Officer of NYCE Corporation.
In addition, Lynch served the Board of Directors of Open Solutions Inc. from 2005 to 2007. Lynch was also the founder director of the New England-wide Yankee 24 ATM Network, serving as Chairman from 1988 to 1990.
Fiserv assists financial institutions and health plan administrators in managing their information systems so that they can efficiently deliver services to their customers. The company provides financial services technology solutions, including electronic commerce systems and services, such as transaction processing, electronic bill payment and presentment, business process outsourcing, document distribution services, and software and systems solutions.
Earlier, Fiserv posted impressive results during its first quarter of 2012. The company earned a number of contract and made proactive advances with a few partnership agreements.
However, earnings estimates have been static in the last sixty days. At this point, we consider it wise to be on the sidelines on the company’s stock and hence maintain our Neutral recommendation.
Our Neutral recommendation is supported by a Zacks #3 Rank, which translates into a short-term rating of Hold.
FISERV INC (FISV): Free Stock Analysis Report
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