Fidelity National Information Services (NYSE:FIS) Sets New 1-Year High After Earnings Beat

Fidelity National Information Services, Inc. (NYSE:FIS) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $75.17 and last traded at $74.89, with a volume of 864493 shares trading hands. The stock had previously closed at $70.45.

The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.14. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services declared that its Board of Directors has initiated a share buyback plan on Monday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

FIS has been the subject of several recent research reports. BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Thursday, April 11th. The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target on the stock. Evercore ISI boosted their price objective on Fidelity National Information Services from $75.00 to $80.00 and gave the stock an “in-line” rating in a research note on Tuesday. Bank of America increased their price target on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird raised their price objective on Fidelity National Information Services from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.63.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Fidelity National Information Services

A number of hedge funds and other institutional investors have recently bought and sold shares of FIS. Vanguard Group Inc. raised its holdings in shares of Fidelity National Information Services by 12.7% in the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after buying an additional 6,503,451 shares during the last quarter. FIL Ltd boosted its position in shares of Fidelity National Information Services by 27.3% in the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after buying an additional 2,758,049 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fidelity National Information Services by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock valued at $506,753,000 after purchasing an additional 121,154 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Fidelity National Information Services by 6.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock valued at $505,956,000 after buying an additional 537,180 shares during the last quarter. Finally, Norges Bank purchased a new stake in Fidelity National Information Services during the 4th quarter worth about $478,594,000. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Information Services Trading Up 5.5 %

The stock has a market cap of $41.73 billion, a PE ratio of -6.61, a PEG ratio of 0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50-day moving average of $70.79 and a 200 day moving average of $62.91.

About Fidelity National Information Services

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.