Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) – Equities researchers at William Blair reduced their FY2023 earnings per share (EPS) estimates for shares of Fidelity National Information Services in a note issued to investors on Tuesday, September 27th. William Blair analyst R. Napoli now expects that the information technology services provider will earn $7.70 per share for the year, down from their prior estimate of $8.42. The consensus estimate for Fidelity National Information Services' current full-year earnings is $7.06 per share.
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Fidelity National Information Services (NYSE:FIS – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.03. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.67 billion. Fidelity National Information Services had a return on equity of 8.95% and a net margin of 5.88%. The firm's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS.
FIS has been the topic of a number of other reports. Wells Fargo & Company cut shares of Fidelity National Information Services from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $96.00 to $88.00 in a research note on Thursday, September 8th. KeyCorp dropped their price target on Fidelity National Information Services from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, September 23rd. Evercore ISI raised Fidelity National Information Services from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $115.00 to $135.00 in a research report on Monday, June 13th. Barclays decreased their price target on Fidelity National Information Services from $130.00 to $110.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Credit Suisse Group reduced their price objective on shares of Fidelity National Information Services from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.46.
Fidelity National Information Services Stock Down 0.9 %
FIS stock opened at $76.57 on Thursday. The stock has a market cap of $46.55 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78. The firm's 50-day simple moving average is $92.92 and its 200 day simple moving average is $96.41. Fidelity National Information Services has a fifty-two week low of $75.66 and a fifty-two week high of $126.20. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.25.
Fidelity National Information Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, September 15th. Fidelity National Information Services's dividend payout ratio is 136.23%.
Insider Transactions at Fidelity National Information Services
In other news, EVP Lenore D. Williams sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the executive vice president now directly owns 21,334 shares of the company's stock, valued at $2,133,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO James W. Woodall sold 80,000 shares of the company's stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the completion of the transaction, the chief financial officer now directly owns 131,598 shares in the company, valued at approximately $11,853,031.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lenore D. Williams sold 2,500 shares of the firm's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the executive vice president now owns 21,334 shares in the company, valued at $2,133,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,240 shares of company stock worth $18,934,354. 0.68% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in FIS. Dodge & Cox bought a new position in Fidelity National Information Services in the second quarter worth $572,490,000. Norges Bank acquired a new stake in shares of Fidelity National Information Services during the 4th quarter valued at about $562,481,000. Steadfast Capital Management LP raised its position in Fidelity National Information Services by 11,686.3% in the first quarter. Steadfast Capital Management LP now owns 4,055,900 shares of the information technology services provider's stock worth $407,293,000 after purchasing an additional 4,021,488 shares in the last quarter. Capital International Investors lifted its stake in Fidelity National Information Services by 12.3% during the fourth quarter. Capital International Investors now owns 34,213,281 shares of the information technology services provider's stock worth $3,734,671,000 after purchasing an additional 3,742,833 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Fidelity National Information Services by 14.3% during the first quarter. Wellington Management Group LLP now owns 24,642,600 shares of the information technology services provider's stock valued at $2,474,610,000 after purchasing an additional 3,075,338 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.
Fidelity National Information Services Company Profile
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Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.
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