Technology Issues Mixed; U.S. Seeks More Data on Banctec-Recognition

Bank technology stocks were mixed last week as investors put money into blue-chip stocks, sending them to new highs.

Even though the Dow Jones industrial average broke through 4,800 on Thursday for the first time, many publicly held firms in the financial technology sector lagged. Many of them had crested 52-week highs the week before.

Banking systems vendors Banctec Inc. and Recognition International Inc. said the Justice Department has requested more information for its antitrust review of their proposed merger.

The companies said they would supply the proper documents promptly. The department may extend the waiting period for the merger by as much as 20 days from the date the documents are supplied.

Common stock in Dallas-based Banctec closed Friday at $19.875 per share, down 37.5 cents for the week.

An analyst at Pacific Crest Securities downgraded bank software provider CFI Proservices Inc. to "outperform" from "buy" and cut earnings estimates, predicting a modest decline in revenues.

Analyst Jim Bradshaw lowered his forecast of fiscal 1995 earnings per share for the Portland, Ore.-based company to 73 cents from 76 cents. He also reduced his 1996 estimate from $1.05 to $1 per share.

Mr. Bradshaw told Reuters that he sees mildly increased costs from CFI's movement to sell to larger banks, but remains optimistic about the firm's long-term prospects.

CFI's common stock closed at $15.625 a share Friday, down $1.375 for the week.

AT&T Global Information Solutions Corp. announced last week it had signed an agreement to remarket Fiserv Inc.'s image processing software to financial institutions.

Applications under the marketing and support agreement include Fiserv's ImageBanc II software, which produces checking account statements with laser-printed images of canceled checks.

"We are excited about the new partnership with AT&T and the opportunity to further demonstrate the value of our image-enabled solutions," said Chris Dice, president of Milwaukee-based Fiserv's imaging unit. "AT&T and Fiserv together are providing a cost-effective single source solution for institutions that are reengineering their operations."

Fiserv's common stock closed Friday at $30.25 a share, down 50 cents for the week.

Affiliated Computer Services Inc. announced last week that it had won a contract from Extebank, an $800 million-asset commercial bank based in Hauppauge, N.Y. Financial terms were not disclosed.

Dallas-based Affiliated Computer will provide account processing services and automated teller machine support to Extebank, a subsidiary of Banco Exterior de Espana, Madrid.

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