What happened

Fiserv Inc. (NYSE: FI) had a strong month as its stock price rose 12.4% in June, according to S&P Global Market Intelligence. The stock is up about 23% year to date, trading at around $125 per share as of July 7.

The markets rallied overall last month as the S&P 500 was up 6.5%, the Dow Jones Industrial Average climbed 4.6%, and the Nasdaq Composite jumped 6.6% in June.

So what

Fiserv is a fintech that provides the technology infrastructure that allows merchants to accept card-based payments and banks and other corporate clients to process transactions and payments.

The major catalyst for Fiserv this month was its move from the Nasdaq Stock Exchange to the New York Stock Exchange (NYSE). Fiserv, founded in 1984, has been trading on the Nasdaq since 1986 under the ticker NASDAQ: FISV. But on June 7, the company officially transferred its listing to the NYSE, and now it trades under the ticker NYSE: FI.

"Our decision to transfer to the NYSE and introduce a new ticker -- FI -- is a signal and symbol of our leadership position in fintech," Frank Bisignano, chairman, president, and CEO of Fiserv, said. "Our focus on clients through innovation, talent, and investment has enabled us to drive sustained growth, as we reach more than 100 countries and serve nearly 100% of U.S. households."

The ticker, FI, alludes to its standing as a fintech innovator, officials said.

As part of its migration to the NYSE, Fiserv will publish the first Fiserv Small Business Index, which is a monthly gauge of consumer spending at small businesses with both cards and cash, online and in-store. This ability to partner with the NYSE on the small business index and potentially other future projects appears to be a major driver of the move.

Now what

The market reacted favorably to Fiserv's shift to the NYSE, perhaps seeing the potential benefits of the partnership. Wall Street analysts at BTIG and B. Riley initiated coverage of the stock with a buy rating.

Fiserv is one of the original fintechs, and it has been a great business over the years as one of just a few major players in its space. And for a growth stock, it has a fairly reasonable forward price-to-earnings ratio of 16, up from about 14 a year ago in the second quarter.

Fiserv saw a 10% revenue increase year over year in the first quarter, with growth in all three of its business segments. It raised its full-year outlook to reflect revenue growth of 8% to 9% and 12% to 14% growth in adjusted earnings per share. It reports second-quarter earnings on July 26.