10 Best Fintech Stocks To Buy in 2024

6. Fiserv, Inc. (NYSE:FI)

Number of Hedge Fund Holders: 73

Fiserv, Inc. (NYSE:FI) serves as a leading global provider of payments and financial services technology solutions. The firm enables money movement for financial institutions, people, and businesses. It was in 1984 that First Data Processing and Sunshine State Systems merged together to create a national data processing organization focused on the financial services industry, Fiserv. The company went public in 1986 and has grown over the years to become a Fortune 500 company. The company’s reportable segments include Merchant Solutions and Financial Solutions.

With more than 6 million merchant locations globally and over 25,000 financial transactions per second at peak, Fiserv, Inc. (NYSE:FI) has 40 years of experience in fintech and payments leadership. Through its integrated solutions, strong client franchise, and strategic positioning, the industry leadership position remains strong. This is evident from another year of double-digit organic revenue and adjusted earnings per share growth for Fiserv. The global growth just doesn’t stop here as the firm recently went live with its pilot merchant acquiring services in its new market New Zealand and continued to grow its instant payment transactions in Brazil and Argentina.

The firm delivered strong performance across the business in the year’s second quarter. With 6% growth in the Financial Solutions segment and 9% growth in the Merchant Solutions segment, the fintech recorded a 7% year-over-year rise in its adjusted revenue. Adjusted earnings per share also grew in the second quarter and in the first six months of 2024 as compared to the prior year periods. Thus, the company raised its full-year 2024 adjusted earnings per share outlook based on a strong first half of the year. Other highlights from the quarter include new clients in verticals such as petro, gaming, government, and healthcare, as well as major wins in the form of a strategic outsourcing agreement with Verizon and a partnership with Apple to enable new Apple Pay functionality with two of its next-generation solutions.

The stock was held by 73 hedge funds, as of Q2 2024. Harris Associates was the most prominent shareholder in the company. Hence, Fiserv, Inc. (NYSE:FI) is one of the best fintech stocks to buy in 2024.