Fidelity National Information Services (NYSE:FIS) Reaches New 1-Year Low – Here’s Why

Shares of Fidelity National Information Services, Inc. (NYSE:FIS – Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $27.93 and last traded at $28.7950, with a volume of 803,677 shares changing hands. The stock had previously closed at $28.31.

Analyst Ratings Changes

Several brokerages recently issued reports on FIS. TD Cowen reduced their price objective on Fidelity National Information Services from $47.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Royal Bank Of Canada lowered shares of Fidelity National Information Services from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $53.00 to $37.00 in a research note on Thursday, November 5th. William Blair cut shares of Fidelity National Information Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 4th. National Bank Financial set a $46.00 price target on shares of Fidelity National Information Services in a research report on Thursday, November 5th. Finally, Cantor Fitzgerald decreased their price target on shares of Fidelity National Information Services from $45.00 to $34.00 and set an “overweight” rating for the company in a report on Monday. Six research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fidelity National Information Services presently has a consensus rating of “Hold” and an average target price of $41.76.

Get Our Latest Stock Report on Fidelity National Information Services

Fidelity National Information Services Stock Performance

The stock has a market capitalization of $15.21 billion, a P/E ratio of 4.40, a P/E/G ratio of 0.35 and a beta of 0.84. The stock has a 50 day moving average of $35.72 and a 200 day moving average of $42.82. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.55 and a current ratio of 0.55.

Fidelity National Information Services (NYSE:FIS – Get Free Report) last issued its earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. Fidelity National Information Services had a return on equity of 20.42% and a net margin of 26.77%. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period last year, the company earned $1.51 earnings per share. Equities analysts predict that Fidelity National Information Services, Inc. will post 5.85 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, December 14th. Fidelity National Information Services’s dividend payout ratio (DPR) is 26.27%.

Insider Activity

In other news, Director Jeffrey A. Goldstein bought 1,585 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was purchased at an average price of $36.40 per share, for a total transaction of $57,694.00. Following the transaction, the director owned 18,697 shares in the company, valued at approximately $680,570.80. This trade represents a 9.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kourtney Gibson purchased 1,800 shares of the company’s stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $29.00 per share, for a total transaction of $52,200.00. Following the purchase, the director directly owned 5,903 shares of the company’s stock, valued at $171,187. This trade represents a 43.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Fidelity National Information Services in the second quarter worth $1,730,200,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Fidelity National Information Services during the second quarter valued at about $219,162,000. Bank of America Corp DE acquired a new stake in Fidelity National Information Services in the second quarter worth about $189,387,000. Legal & General Group Plc acquired a new stake in Fidelity National Information Services in the second quarter worth about $129,815,000. Finally, Perpetual Ltd grew its position in Fidelity National Information Services by 32.9% in the 3rd quarter. Perpetual Ltd now owns 3,262,131 shares of the information technology services provider’s stock valued at $107,324,000 after buying an additional 807,482 shares in the last quarter. 96.23% of the stock is owned by institutional investors.

Fidelity National Information Services Company Profile

(Get Free Report)

Fidelity National Information Services, Inc. (FIS) provides financial technology and services to banks, credit unions, capital markets firms and other financial institutions. Its offerings include systems for processing transactions, managing accounts and supporting day-to-day financial operations. The company’s products and services also cover digital banking, payments, risk management, regulatory compliance, treasury operations and capital markets activities such as trading and securities processing.

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