Bank tech issues bounce back in soft market.

Bank technology stocks rebounded last week after taking a battering the week before, also outperforming the market overall that appeared stuck in the doldrums in advance of the July 4th holiday.

Bank Technology Stocks Last Week Change Last from 52 week week's prev. Hi Low PE close weekOUTSOURCERSAllte(*) 29 1/2 24 17.57 25 3/8 5/8Bisys 21 1/8 17 24.4 20 3/4 3/4EDS(**) 38 27 1/2 22.5 34 7/8 1 3/8First Data 48 40 5/8 25.54 42 3/4 1/4Fiserv 23 3/4 18 24.7 20 3/4 1/4Total System 28 1/4 19 1/2 31.64 19 1/2 2 3/8SOFTWAREBroadway & Seymour 15 3/4 9 1/2 - 12 3/4 2 1/4Fair Isaac 31 1/4 21 24.17 29 1/2 1Hogan 10 7/8 6 3/8 17.63 7 3/8 3/8Jack Henry 11 3/4 6 1/2 15.69 8 1/4 3/8HARDWAREBanctec 24 3/4 18 3/4 13.79 20 1/4 1Diebold 45 1/4 33 7/8 24.64 43 7/8 2Verifone 19 1/2 14 1/2 17.22 15 1/2 1/2TRUST SYSTEMSNational Computer 13 1/2 10 1/4 - 11 1/2 1/2SEI Corp. 28 1/2 17 21.73 18 1/2 1/4CHECK PRINTERSDeluxe Corp. 38 26 1/8 17.02 26 1/4 1/4John H. Harland 24 3/4 21 1/8 13.1 21 7/8 1/2BRANCH AUTOMATIONCFI Proservices 15 1/2 9 7/8 23.41 14 1/2 1/4Interling 9 4 3/4 10.0 5 3/8 -PAYMENT SYSTEMSComdata 8 1/2 6 1/2 - 7 10/16 2/16Equifax 30 3/8 21 7/8 30.05 28 1/2 1/8First Financial 60 1/8 51 1/8 25.23 54 3/8 1National Data 23 16 1/4 20.39 17 1/4 1 1/2SPS Transaction 64 3/4 48 23.28 56 1/4 1TRW 77 1/2 61 18.07 64 7/8 1/8

(*)Alltel unit Systematics Information Services, Inc. contributed 29% of 1993 operating revenues

(**)EDS 1993 revenues from financial services firms was $1.2 billion, or 14% of total 1993 revenues

The stock market's stagnation was matched by the Commerce Department's release Friday of its index of leading economic indicators, which remained flat for a second straight month during may, signalling continued modest growth in the U.S. economy this year.

In the financial technology sector, outsourcing companies ended the week higher, while payments systems companies, which experienced a surge in their stock prices in recent weeks, fell back.

First Financial Management Corp., the Atlanta-based credit card merchant processor announced Friday that it has signed a definitive agreement to acquire Genex Services Inc. and Genex Services of Canada Ltd.

Company officials said approximately 1,260,000 First Financial shares will be issued or reserved in exchange for all the outstanding shares and options.

Headquartered in Wayne, Pa., Genex is a leading provider of workers' compensation programs, including medical case management, vocational rehabilitation, automated bill review, utilization management and other cost containment services.

"In the $75 billion workers' compensation industry, Genex is a recognized leader," said Patrick H. Thomas, chairman of the board, president and chief executive officer of First Financial. "Genex will add a key component to FFMC's integrated health care services and has the necessary expertise for sustained growth in the changing health care environment."

First Financial's stock closed Friday at $54.375 a share, down $1.00 for the week.

Another company in the payments business, National Data Corp. announced Tuesday that it has acquired the assets of a Chicago-based check guarantee company called Yes Check Services, Inc. Financial terms were not disclosed.

"This acquisition fits our strategy of offering our customers a full range of integrated payment services," said Kevin C. Shea, executive vice president of retail application systems and services for Atlanta-based National Data. "It complements our capabilities in credit, debit, procurement and health care payment processing and expands our check capabilities."

National Data common stock closed at $17.25 a share Friday, down $1.50 for the week.

Check printer Deluxe Corp. announced Tuesday it had completed its previously announced acquisition of T/Maker Co., a developer image processing systems. Deluxe's stock closed Friday at $26.25, down 25 cents for the week.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER