Fidelity National Information Servcs (FIS) Issues Quarterly Earnings Results

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Fidelity National Information Servcs (NYSE:FIS) released its earnings results on Tuesday. The information technology services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02, RTT News reports. Fidelity National Information Servcs had a net margin of 17.89% and a return on equity of 15.78%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Fidelity National Information Servcs updated its FY 2019 guidance to $7.35-7.55 EPS and its FY19 guidance to $7.35-$7.55 EPS.

Fidelity National Information Servcs stock opened at $109.10 on Tuesday. The stock has a market cap of $35.70 billion, a PE ratio of 24.68, a PEG ratio of 1.58 and a beta of 0.77. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.34 and a quick ratio of 1.34. Fidelity National Information Servcs has a one year low of $93.71 and a one year high of $110.83.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.28%. This is a positive change from Fidelity National Information Servcs’s previous quarterly dividend of $0.32. Fidelity National Information Servcs’s dividend payout ratio is currently 28.96%.

In related news, EVP Marc M. Mayo sold 34,826 shares of the stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $105.00, for a total value of $3,656,730.00. Following the completion of the transaction, the executive vice president now owns 24,594 shares in the company, valued at approximately $2,582,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kathleen T. Thompson sold 8,482 shares of the stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $106.86, for a total transaction of $906,386.52. Following the completion of the transaction, the chief accounting officer now owns 8,917 shares of the company’s stock, valued at approximately $952,870.62. The disclosure for this sale can be found here. 2.08% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FIS. Oregon Public Employees Retirement Fund grew its position in Fidelity National Information Servcs by 10,029.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,666,778 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 3,630,580 shares in the last quarter. Alliancebernstein L.P. grew its position in Fidelity National Information Servcs by 100.0% in the 3rd quarter. Alliancebernstein L.P. now owns 2,378,617 shares of the information technology services provider’s stock valued at $259,436,000 after buying an additional 1,189,590 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in Fidelity National Information Servcs by 12,015.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 761,192 shares of the information technology services provider’s stock valued at $83,023,000 after buying an additional 754,909 shares in the last quarter. California Public Employees Retirement System grew its position in Fidelity National Information Servcs by 39.4% in the 4th quarter. California Public Employees Retirement System now owns 1,810,266 shares of the information technology services provider’s stock valued at $185,643,000 after buying an additional 512,052 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Fidelity National Information Servcs by 28.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,815,007 shares of the information technology services provider’s stock valued at $186,129,000 after buying an additional 401,093 shares in the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.

Several research firms have weighed in on FIS. Zacks Investment Research lowered shares of Fidelity National Information Servcs from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Goldman Sachs Group upgraded shares of Fidelity National Information Servcs from a “neutral” rating to a “buy” rating and boosted their target price for the company from $108.00 to $128.00 in a research note on Tuesday, December 11th. Barclays began coverage on shares of Fidelity National Information Servcs in a research note on Wednesday, November 14th. They set an “overweight” rating and a $129.00 target price for the company. Cantor Fitzgerald boosted their target price on shares of Fidelity National Information Servcs from $117.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 31st. Finally, Citigroup lowered their target price on shares of Fidelity National Information Servcs from $124.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $120.30.

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About Fidelity National Information Servcs

Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.

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Earnings History for Fidelity National Information Servcs (NYSE:FIS)

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