Fidelity National Information Services (NYSE:FIS) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Fidelity National Information Services (NYSE:FIS) released its quarterly earnings data on Monday. 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, RTT News reports. The business 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 business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS.

Fidelity National Information Services Price Performance

NYSE:FIS traded up $0.02 during trading hours on Thursday, reaching $74.07. 667,047 shares of the company traded hands, compared to its average volume of 4,437,781. The firm’s 50-day moving average is $70.79 and its 200-day moving average is $62.91. The stock has a market cap of $41.59 billion, a P/E ratio of -7.24, a P/E/G ratio of 0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $75.71.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s payout ratio is currently -14.08%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FIS. Mizuho upped their price objective on Fidelity National Information Services from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 price objective for the company. Morgan Stanley upped their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial upped their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Finally, William Blair reissued an “outperform” rating on shares of Fidelity National Information Services in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fidelity National Information Services currently has an average rating of “Moderate Buy” and a consensus price target of $77.26.

Fidelity National Information Services announced that its Board of Directors has approved a share repurchase plan on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the acquisition, 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 this hyperlink. 0.68% of the stock is owned by insiders.

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.