Fidelity National Information Services, Inc. (FIS) Announces Quarterly Earnings Results
Fidelity National Information Services, Inc. (NYSE:FIS) released its earnings results on Tuesday. The information technology services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.12, Bloomberg Earnings reports. Fidelity National Information Services had a net margin of 7.08% and a return on equity of 13.49%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. Fidelity National Information Services’s revenue was down 4.8% compared to the same quarter last year. Fidelity National Information Services updated its FY17 guidance to $4.38-4.43 EPS.
Fidelity National Information Services (NYSE:FIS) traded up 0.253% during midday trading on Wednesday, hitting $92.995. 424,887 shares of the stock were exchanged. Fidelity National Information Services has a one year low of $73.97 and a one year high of $96.67. The firm has a 50-day moving average price of $94.00 and a 200-day moving average price of $88.91. The stock has a market cap of $30.91 billion, a P/E ratio of 46.614 and a beta of 0.85.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, December 14th. Fidelity National Information Services’s payout ratio is 58.00%.
Several brokerages have commented on FIS. Zacks Investment Research cut shares of Fidelity National Information Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Cowen and Company restated an “outperform” rating and set a $92.00 price objective (up from $90.00) on shares of Fidelity National Information Services in a research note on Monday, July 10th. Barclays PLC restated an “overweight” rating and set a $102.00 price objective (up from $94.00) on shares of Fidelity National Information Services in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Fidelity National Information Services from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $108.00 target price (up from $100.00) on shares of Fidelity National Information Services in a research note on Wednesday. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Fidelity National Information Services currently has a consensus rating of “Buy” and an average price target of $96.53.
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In related news, Director Stephan A. James sold 18,368 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $90.14, for a total value of $1,655,691.52. Following the completion of the transaction, the director now owns 43,231 shares of the company’s stock, valued at approximately $3,896,842.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anthony M. Jabbour sold 100,000 shares of the business’s 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. Insiders sold a total of 520,549 shares of company stock valued at $47,224,679 in the last three months. 2.66% of the stock is currently owned by corporate insiders.
Fidelity National Information Services announced that its board has initiated a share buyback program on Wednesday, August 2nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 13.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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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