Brokerages expect that Fidelity National Information Services, Inc. (NYSE:FIS) will announce sales of $2.23 billion for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Fidelity National Information Services’ earnings, with the highest sales estimate coming in at $2.26 billion and the lowest estimate coming in at $2.11 billion. Fidelity National Information Services reported sales of $2.31 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.5%. The company is scheduled to issue its next earnings report before the market opens on Tuesday, October 31st.

On average, analysts expect that Fidelity National Information Services will report full-year sales of $2.23 billion for the current year, with estimates ranging from $8.92 billion to $9.23 billion. For the next year, analysts anticipate that the company will report sales of $9.26 billion per share, with estimates ranging from $9.13 billion to $9.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Fidelity National Information Services.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.05. Fidelity National Information Services had a return on equity of 13.49% and a net margin of 7.08%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the business posted $0.90 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year.

Several research firms have recently weighed in on FIS. Barclays PLC reissued an “overweight” rating and issued a $102.00 target price (up from $94.00) on shares of Fidelity National Information Services in a report on Wednesday, August 9th. Zacks Investment Research downgraded Fidelity National Information Services from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Stephens reissued a “positive” rating and issued a $101.00 target price (up from $93.00) on shares of Fidelity National Information Services in a report on Thursday, August 3rd. BidaskClub downgraded Fidelity National Information Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Cowen and Company reissued a “buy” rating and issued a $97.00 target price on shares of Fidelity National Information Services in a report on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Fidelity National Information Services has an average rating of “Buy” and an average target price of $94.67.

In other Fidelity National Information Services news, COO Anthony M. Jabbour sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $92.36, for a total transaction of $9,236,000.00. Following the transaction, the chief operating officer now owns 282,689 shares in the company, valued at approximately $26,109,156.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James B. Stallings, Jr. sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $90.32, for a total value of $196,987.92. Following the transaction, the director now owns 12,317 shares in the company, valued at approximately $1,112,471.44. The disclosure for this sale can be found here. Insiders have sold a total of 520,549 shares of company stock worth $47,224,679 in the last quarter. 2.66% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIS. OppenheimerFunds Inc. increased its position in Fidelity National Information Services by 9.3% during the 1st quarter. OppenheimerFunds Inc. now owns 13,875 shares of the information technology services provider’s stock worth $1,105,000 after purchasing an additional 1,178 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in Fidelity National Information Services during the 1st quarter worth approximately $1,944,000. Marshall Wace North America L.P. acquired a new position in Fidelity National Information Services during the 1st quarter worth approximately $1,944,000. Morgan Stanley increased its position in Fidelity National Information Services by 12.3% during the 1st quarter. Morgan Stanley now owns 595,989 shares of the information technology services provider’s stock worth $47,453,000 after purchasing an additional 65,142 shares during the period. Finally, Renaissance Technologies LLC increased its position in Fidelity National Information Services by 10.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,284,801 shares of the information technology services provider’s stock worth $102,296,000 after purchasing an additional 117,400 shares during the period. Institutional investors own 86.63% of the company’s stock.

Fidelity National Information Services (NYSE:FIS) traded down 0.1614% during midday trading on Tuesday, reaching $95.5555. The company’s stock had a trading volume of 359,506 shares. Fidelity National Information Services has a 1-year low of $73.25 and a 1-year high of $96.00. The firm has a market capitalization of $31.76 billion, a PE ratio of 47.8975 and a beta of 0.85. The stock’s 50-day moving average price is $93.56 and its 200 day moving average price is $88.32.

Fidelity National Information Services declared that its board has initiated a stock buyback program on Wednesday, August 2nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

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About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

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Earnings History and Estimates for Fidelity National Information Services (NYSE:FIS)

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