Fidelity National Information Services, Inc. (NYSE:FIS) Plans $0.36 Quarterly Dividend

Fidelity National Information Services, Inc. (NYSE:FIS) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Stockholders of record on Monday, June 10th will be paid a dividend of 0.36 per share by the information technology services provider on Monday, June 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.07%.

Fidelity National Information Services has raised its dividend by an average of 14.1% per year over the last three years. Fidelity National Information Services has a payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Fidelity National Information Services to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 27.3%.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock opened at $69.59 on Friday. The stock has a 50 day moving average price of $70.04 and a 200-day moving average price of $61.89. Fidelity National Information Services has a one year low of $46.91 and a one year high of $74.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $40.12 billion, a price-to-earnings ratio of -6.19, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm earned $1.71 EPS. Fidelity National Information Services’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that Fidelity National Information Services will post 4.66 EPS for the current year.

Fidelity National Information Services declared that its board has initiated a share buyback plan on Monday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

FIS has been the subject of a number of recent analyst reports. BNP Paribas cut Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Thursday, April 11th. Truist Financial boosted their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Morgan Stanley upped their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Evercore ISI upped their target price on Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Finally, TheStreet upgraded Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.59.

About Fidelity National Information Services

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.