Fidelity National Information Services (NYSE:FIS) Shares Gap Down – Here’s Why

Fidelity National Information Services, Inc. (NYSE:FIS) gapped down before the market opened on Friday . The stock had previously closed at $47.25, but opened at $44.50. Fidelity National Information Services shares last traded at $44.3510, with a volume of 1,271,603 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FIS. Compass Point cut their price objective on Fidelity National Information Services from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Raymond James Financial cut their price objective on Fidelity National Information Services from $82.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Citigroup cut their price objective on Fidelity National Information Services from $70.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Cantor Fitzgerald initiated coverage on Fidelity National Information Services in a research note on Tuesday, January 27th. They set an “overweight” rating and a $72.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Fidelity National Information Services from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fidelity National Information Services has a consensus rating of “Moderate Buy” and a consensus target price of $67.10.

Fidelity National Information Services Stock Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 61.85, a PEG ratio of 0.45 and a beta of 0.82. The firm’s fifty day moving average is $48.06 and its 200 day moving average is $57.04.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Friday, May 8th. The information technology services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The business had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Fidelity National Information Services had a net margin of 3.58% and a return on equity of 21.21%. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. On average, analysts predict that Fidelity National Information Services, Inc. will post 6.27 EPS for the current fiscal year.

Fidelity National Information Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, June 11th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently 241.10%.

Insider Activity at Fidelity National Information Services

In other news, CEO Stephanie Ferris purchased 19,846 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average price of $50.39 per share, with a total value of $1,000,039.94. Following the purchase, the chief executive officer owned 281,458 shares in the company, valued at $14,182,668.62. This represents a 7.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Large investors have recently made changes to their positions in the company. Salomon & Ludwin LLC grew its stake in shares of Fidelity National Information Services by 100.5% in the 4th quarter. Salomon & Ludwin LLC now owns 387 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 194 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Fidelity National Information Services in the 3rd quarter valued at approximately $29,000. LRI Investments LLC grew its stake in shares of Fidelity National Information Services by 613.1% in the 3rd quarter. LRI Investments LLC now owns 435 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 374 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Fidelity National Information Services in the 3rd quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC bought a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $33,000. Institutional investors own 96.23% of the company’s stock.

About Fidelity National Information Services

Fidelity National Information Services (NYSE: FIS) is a global provider of financial technology solutions and services for banks, capital markets firms, merchants and corporations. The company develops and delivers software, processing, and outsourcing services that support core banking, payments and merchant acquiring, wealth and retirement platforms, risk and compliance, and trading and capital markets operations. Its offerings include cloud-based and on-premises core banking systems, card processing and gateway services, e-commerce and point-of-sale payment solutions, and a range of back-office and advisory services designed to automate and modernize financial operations.

FIS serves a broad international client base across North America, Europe, Latin America, and the Asia-Pacific region through a combination of direct clients and partner channels.