Q2 2024 EPS Estimates for Fidelity National Information Services, Inc. Lifted by William Blair (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FIS) – Analysts at William Blair increased their Q2 2024 EPS estimates for shares of Fidelity National Information Services in a report released on Tuesday, May 7th. William Blair analyst C. Kennedy now expects that the information technology services provider will post earnings of $1.23 per share for the quarter, up from their prior estimate of $1.20. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $4.71 per share. William Blair also issued estimates for Fidelity National Information Services’ Q3 2024 earnings at $1.29 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $4.93 EPS, Q1 2025 earnings at $1.24 EPS, Q2 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.38 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $5.33 EPS.

Several other research firms have also commented on FIS. Royal Bank of Canada increased their target price on shares of Fidelity National Information Services from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday. Bank of America raised their price objective on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating and set a $75.00 target price on shares of Fidelity National Information Services in a report on Wednesday. Susquehanna boosted their price objective on Fidelity National Information Services from $81.00 to $86.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, Morgan Stanley raised their target price on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services presently has an average rating of “Moderate Buy” and an average target price of $76.79.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock opened at $74.05 on Wednesday. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $75.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $70.79 and its two-hundred day moving average price is $62.91. The stock has a market cap of $41.58 billion, a PE ratio of -6.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $1.29 EPS.

Institutional Investors Weigh In On Fidelity National Information Services

Several hedge funds and other institutional investors have recently made changes to their positions in FIS. OFI Invest Asset Management acquired a new position in Fidelity National Information Services during the 3rd quarter valued at $25,000. Baystate Wealth Management LLC lifted its stake in shares of Fidelity National Information Services by 332.1% in the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 372 shares during the period. EdgeRock Capital LLC acquired a new stake in Fidelity National Information Services during the fourth quarter worth about $29,000. Rise Advisors LLC bought a new position in Fidelity National Information Services during the first quarter valued at about $29,000. Finally, Delta Asset Management LLC TN raised its holdings in Fidelity National Information Services by 600.0% in the 4th quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 450 shares in the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was purchased at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.68% of the stock is currently owned by insiders.

Fidelity National Information Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a $0.36 dividend. The ex-dividend date 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 dividend payout ratio is currently -12.81%.

Fidelity National Information Services announced that its Board of Directors has authorized a stock buyback program on Monday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Fidelity National Information Services Company Profile

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.