We sold FISV today and redeployed the cash. FISV has had three quarters of declining revenue and earnings growth. See PERT A graph (above). Also, FISV’s market overlaps with two other portfolio holdings — JKHY and SNV. We used the above stock selection guide in making this decision.
Company Description: Fiserv, Inc. provides information mgm’t. systems and services to the financial industry, incl. transaction process., outsourcing, software and systems. Clients incl. banks, broker-dealers, credit unions, thrifts, insur. companies and agents, and self-insured employers. First Trust unit provides trust admin. and processing serv. for retirement plans. Operates full-service data centers, software system development centers, and item processing and backoffice support centers in 85 countries. Has approximately 21,000 employees. Officers and directors own 7.7% of common stock; T. Rowe Price, 5.5% (2/04 Proxy). Chrmn., Pres. & CEO: Leslie M. Muma. Incorporated: WI. Address: 255 Fiserv Drive, Brookfield, WI 53045. Telephone: 262-879-5000. Web: www.fiserv.com.