BidaskClub downgraded shares of Fidelity National Information Services, Inc. (NYSE:FIS) from a strong-buy rating to a buy rating in a research note released on Saturday, August 5th.
FIS has been the topic of several other research reports. Zacks Investment Research lowered Fidelity National Information Services from a hold rating to a sell rating in a report on Wednesday, July 19th. BMO Capital Markets upped their target price on Fidelity National Information Services from $92.00 to $104.00 and gave the company an outperform rating in a report on Thursday, August 3rd. Barclays PLC reissued an overweight rating and issued a $102.00 target price (up previously from $94.00) on shares of Fidelity National Information Services in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a buy rating and issued a $96.00 target price on shares of Fidelity National Information Services in a report on Wednesday, July 12th. Finally, Cantor Fitzgerald reissued a buy rating and issued a $89.00 target price on shares of Fidelity National Information Services in a report on Tuesday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $92.20.
Shares of Fidelity National Information Services (NYSE:FIS) traded down 2.06% during midday trading on Friday, hitting $89.57. 1,183,399 shares of the stock were exchanged. The stock has a market cap of $29.77 billion, a P/E ratio of 44.90 and a beta of 0.84. The firm has a 50 day moving average of $89.15 and a 200-day moving average of $84.20. Fidelity National Information Services has a 12 month low of $73.25 and a 12 month high of $92.78.
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, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.05. The firm had revenue of $2.34 billion during 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%. Fidelity National Information Services’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. Equities research analysts anticipate that Fidelity National Information Services will post $4.28 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.29 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. Fidelity National Information Services’s dividend payout ratio (DPR) is 58.00%.
Fidelity National Information Services declared that its board has approved a share repurchase program on Wednesday, August 2nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director Stephan A. James sold 18,368 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,655,691.52. Following the sale, the director now directly owns 43,231 shares in the company, valued at approximately $3,896,842.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James B. Stallings, Jr. sold 2,181 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $90.32, for a total value of $196,987.92. Following the sale, the director now owns 12,317 shares in the company, valued at $1,112,471.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 421,549 shares of company stock worth $38,074,069. Company insiders own 2.66% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Barometer Capital Management Inc. acquired a new stake in Fidelity National Information Services during the first quarter valued at about $637,000. Bank of The West increased 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 in the last quarter. DnB Asset Management AS increased 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 in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Fidelity National Information Services during the first quarter valued at about $807,000. Finally, Fox Run Management L.L.C. acquired a new stake in Fidelity National Information Services during the first quarter valued at about $255,000. Institutional investors and hedge funds own 86.37% 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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