I am an associate analyst at Cantor F. My wife works for Fiserv, believe me I have over communicated the concerns here to all Wall Street analysts following Fiserv. No analyst I know likes this crazy and epic layoffs, toxic culture, some layoffs are welcomed here and there, not not this deep. We don’t like companies meeting consensus through staff reduction, simply it doesn’t add up, and can’t be sustainable. We have seen erosion in Fiserv’s margins and quality. As such I will not be surprised to see 15% drop for the Fissev stock on 10.27.22. I spoke with few and told me confidentially , their patience is over with Frank, he is perceived not forthcoming and projects are not adding up. Morgan Stanley just lowered it’s rating to Neutral. Neutral means sell the stock. I can’t comment on our position yet due to SCC regulations.
13 replies (most recent on top)
Hopefully the SEC has an eye on FB. Unloading millions in stock a day before massive RIFs spells SKETCHY to me. So many hard working, dedicated and brilliant people who devoted decades to this company (myself included) let go because of this guy. So many clients are disgusted. Who closes offices and tells those who worked in an office that they HAVE to work from home and then fires those same people a year later BECAUSE they work from home? For those of us who were RIF'd, have faith that we will move onward and upward!!!
That day for reporting will be really interesting. I hope there is rebellion from the analysts, shareholders and board for this. Yabuki did so many things right for Fiserv, but the FirstData acq. and handoff to FB has to be the worst.
FB sold nearly 700,000 shares on 8-16 totaling over $76mm in value. Didn’t forfeit a dime of salary to keep from laying off thousands. That’s who we worked for.
Read the quarterly analyst call transcripts. Virtually no discussion on core. It al on payments. The analysts are asking softball questions.
https://www.fool.com/earnings/call-transcripts/2022/07/26/fiserv-fisv-q2-2022-earnings-call-transcript/
Morgan Stanley had an equal weight rating for Fiserv as of a report issued Tuesday. Per Investopedia, "A stock that has an equal weight rating means that an equity analyst believes the company's stock price will perform in line with or similar to the benchmark index being used for comparison." I couldn't find any rating for Fiserv stock that agreed with the OP's.
It is almost like this new board is sabotaging Fiserv.
@wkl+1ji63RhV whoever is speaking is a lying sack of s-it
Two things:
I'm sure we'll see Frank on Fox News soon. That's not a slam on Fox News that's just the only place apparently that takes his fluff.
And
Employee surveys with happiness and engagement is a sham were told where it says Fiserv we need to tell associates that means your direct manager not Fiserv as a whole and they refuse to change wording.
If scores aren't high enough then everyone has to have it on their goals for next year...so teams have just said forget it. Fiserv it just great so they don't extra work to do. But really we all shake our head.
Remind me how much stock did he sell snd when?
He needs to be fired. The problem is the damage has been done. A lot of good employees will not come back, since of course will.
Don't forget the whole self service idea. Clients are not ordering a hamburger and fries at a McDonald's kiosk.
Dna client here. Listening to webinar where vp presenting is talking about employee happiness index, and how by using RPA you can hire the best employees across the country and have remote workers. Rich.
Thank you for sharing. I hope he gets what he deserves.
I meant SEC