BidaskClub cut shares of Fidelity National Information Services, Inc. (NYSE:FIS) from a strong-buy rating to a buy rating in a research note published on Saturday.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Fidelity National Information Services from a hold rating to a sell rating in a research note on Tuesday, April 11th. Compass Point cut Fidelity National Information Services from a buy rating to a neutral rating and dropped their price target for the company from $86.00 to $83.00 in a research note on Wednesday, May 3rd. Cantor Fitzgerald restated a buy rating and issued a $89.00 price target on shares of Fidelity National Information Services in a research note on Tuesday, May 2nd. Barclays PLC reiterated a buy rating and set a $94.00 price objective on shares of Fidelity National Information Services in a research report on Monday, May 15th. Finally, Credit Suisse Group reiterated a buy rating and set a $88.00 price objective on shares of Fidelity National Information Services in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $92.20.
Shares of Fidelity National Information Services (FIS) traded down 0.04% during midday trading on Friday, hitting $90.37. 2,748,857 shares of the stock traded hands. The firm’s 50 day moving average price is $87.57 and its 200 day moving average price is $83.41. Fidelity National Information Services has a 12-month low of $73.25 and a 12-month high of $91.90. 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 (NYSE:FIS) last posted its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.05. Fidelity National Information Services had a return on equity of 13.49% and a net margin of 7.08%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts expect that Fidelity National Information Services will post $4.28 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 14th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently 58.00%.
Fidelity National Information Services announced that its board has initiated a stock repurchase program on Wednesday, August 2nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
In other news, insider Gary Norcross sold 250,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $83.06, for a total transaction of $20,765,000.00. Following the sale, the insider now directly owns 557,699 shares of the company’s stock, valued at approximately $46,322,478.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James B. Stallings, Jr. sold 1,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $85.39, for a total value of $85,390.00. Following the sale, the director now directly owns 14,498 shares in the company, valued at $1,237,984.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 479,789 shares of company stock worth $39,879,240. 2.66% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in FIS. Barometer Capital Management Inc. acquired a new stake in Fidelity National Information Services during the first quarter valued at $637,000. Bank of The West raised its stake in Fidelity National Information Services by 4.8% in the first quarter. Bank of The West now owns 20,254 shares of the information technology services provider’s stock valued at $1,612,000 after buying an additional 936 shares during the period. DnB Asset Management AS raised its stake in Fidelity National Information Services by 5.9% in the first quarter. DnB Asset Management AS now owns 100,687 shares of the information technology services provider’s stock valued at $8,017,000 after buying an additional 5,600 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Fidelity National Information Services during the first quarter valued at $807,000. Finally, Fox Run Management L.L.C. acquired a new stake in Fidelity National Information Services during the first quarter valued at $255,000. 86.44% of the stock is currently owned by institutional investors and hedge funds.
Fidelity National Information Services Company Profile
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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