Fidelity National Information Services (NYSE:FIS) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Fidelity National Information Services (NYSE:FIS) issued its quarterly earnings data on Monday. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.14, RTT News reports. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm posted $1.29 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year.

Fidelity National Information Services Trading Up 1.0 %

Shares of NYSE FIS opened at $71.40 on Tuesday. The company has a market cap of $40.09 billion, a price-to-earnings ratio of -6.35, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The stock’s 50 day simple moving average is $70.64 and its 200 day simple moving average is $62.74. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $74.75.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.02%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

Fidelity National Information Services announced that its Board of Directors has authorized a share repurchase program on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the stock in a transaction dated Monday, April 15th. The stock was acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on FIS. UBS Group lifted their price objective on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Morgan Stanley boosted their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Evercore ISI boosted their price target on Fidelity National Information Services from $62.00 to $75.00 and gave the company an “in-line” rating in a report on Tuesday, April 30th. Finally, The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target for the company. Eight 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.75.

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.