Fidelity National Information Services, Inc. (FIS) Plans Quarterly Dividend of $0.29
Fidelity National Information Services, Inc. (NYSE:FIS) declared a quarterly dividend on Thursday, October 26th, RTT News reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.29 per share by the information technology services provider on Friday, December 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.21%.
Fidelity National Information Services has raised its dividend payment by an average of 5.7% per year over the last three years. Fidelity National Information Services has a dividend payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fidelity National Information Services to earn $4.88 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 23.8%.
Shares of Fidelity National Information Services (NYSE:FIS) traded up 0.43% during trading on Thursday, hitting $95.94. The stock had a trading volume of 888,029 shares. Fidelity National Information Services has a 1-year low of $73.25 and a 1-year high of $96.36. The stock’s 50-day moving average price is $93.70 and its 200 day moving average price is $88.48. The firm has a market capitalization of $31.89 billion, a P/E ratio of 48.09 and a beta of 0.85.
Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the business posted $0.90 EPS. Fidelity National Information Services’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Fidelity National Information Services will post $4.29 earnings per share for the current year.
FIS has been the subject of a number of analyst reports. Cowen and Company reiterated a “buy” rating and issued a $97.00 price target on shares of Fidelity National Information Services in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Fidelity National Information Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Robert W. Baird reiterated an “outperform” rating and issued a $108.00 price target (up previously from $102.00) on shares of Fidelity National Information Services in a research note on Tuesday, October 10th. BMO Capital Markets increased their price target on Fidelity National Information Services from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Barclays PLC reiterated an “overweight” rating and issued a $102.00 price target (up previously from $94.00) on shares of Fidelity National Information Services in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $95.20.
Fidelity National Information Services announced that its Board of Directors has initiated a share buyback program on Wednesday, August 2nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
In related news, Director Frank R. Martire sold 400,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $90.34, for a total value of $36,136,000.00. Following the completion of the transaction, the director now owns 202,517 shares of the company’s stock, valued at approximately $18,295,385.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Anthony M. Jabbour sold 100,000 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $92.36, for a total transaction of $9,236,000.00. Following the completion of the transaction, the chief operating officer now directly owns 282,689 shares of the company’s stock, valued at approximately $26,109,156.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 520,549 shares of company stock valued at $47,224,679. Company insiders own 2.66% of the company’s stock.
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Fidelity National Information Services Company Profile
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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