Fidelity National Information Services, Inc. (NYSE:FIS) - Research analysts at Northcoast Research increased their Q4 2017 EPS estimates for shares of Fidelity National Information Services in a research note issued on Thursday. Northcoast Research analyst K. Mehta now anticipates that the information technology services provider will earn $1.32 per share for the quarter, up from their previous estimate of $1.31.
Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Fidelity National Information Services had a return on equity of 13.49% and a net margin of 7.08%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS.
FIS has been the topic of several other reports. Zacks Investment Research lowered shares of Fidelity National Information Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Cowen and Company reaffirmed an “outperform” rating and issued a $92.00 price target (up from $90.00) on shares of Fidelity National Information Services in a report on Monday, July 10th. Barclays PLC reaffirmed an “overweight” rating and issued a $102.00 price target (up from $94.00) on shares of Fidelity National Information Services in a report on Thursday. Credit Suisse Group reaffirmed a “buy” rating and issued a $88.00 price target on shares of Fidelity National Information Services in a report on Thursday, April 27th. Finally, BidaskClub raised shares of Fidelity National Information Services from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Fidelity National Information Services currently has an average rating of “Buy” and an average target price of $92.20.
Fidelity National Information Services (NYSE FIS) opened at 90.37 on Friday. The company has a 50-day moving average price of $87.57 and a 200 day moving average price of $83.41. The company has a market capitalization of $29.82 billion, a PE ratio of 45.30 and a beta of 0.84. Fidelity National Information Services has a 52-week low of $73.25 and a 52-week high of $91.90.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.28%. Fidelity National Information Services’s dividend payout ratio is presently 58.00%.
Fidelity National Information Services declared that its board has initiated a share repurchase plan on Wednesday, August 2nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 13.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director James B. Stallings, Jr. sold 1,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $85.39, for a total transaction of $85,390.00. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at $1,237,984.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James W. Woodall sold 70,667 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $83.02, for a total transaction of $5,866,774.34. Following the transaction, the executive vice president now owns 133,509 shares of the company’s stock, valued at $11,083,917.18. The disclosure for this sale can be found here. Insiders have sold 479,789 shares of company stock valued at $39,879,240 over the last 90 days. 2.66% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Fidelity National Information Services by 3,230.2% in the first quarter. BlackRock Inc. now owns 21,025,798 shares of the information technology services provider’s stock worth $1,674,072,000 after buying an additional 20,394,426 shares in the last quarter. Crescent Grove Advisors LLC acquired a new position in Fidelity National Information Services during the second quarter worth about $106,333,000. Janus Capital Management LLC increased its position in Fidelity National Information Services by 23.7% in the first quarter. Janus Capital Management LLC now owns 5,127,324 shares of the information technology services provider’s stock worth $408,238,000 after buying an additional 983,896 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Fidelity National Information Services by 4.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,370,281 shares of the information technology services provider’s stock worth $1,462,643,000 after buying an additional 845,325 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Fidelity National Information Services by 3.5% in the first quarter. Vanguard Group Inc. now owns 21,818,241 shares of the information technology services provider’s stock worth $1,737,168,000 after buying an additional 745,789 shares in the last quarter. Institutional investors own 86.44% of the company’s stock.
About Fidelity National Information Services
Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.
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