Fidelity National Information Services (NYSE:FIS) Shares Gap Down - What's Next?

Key Points

• Fidelity National Information Services (NYSE:FIS) experienced a significant share price drop, opening at $73.09 after closing at $78.96, with the latest trading price at $71.92.
• Analysts have a generally positive outlook, with a consensus rating of "Moderate Buy" and a target price of $91.00, while some ratings include upgrades to "buy" from firms like TD Cowen and Citigroup.
• The company has announced a quarterly dividend of $0.40 per share, representing a 2.2% yield, although its current dividend payout ratio is notably high at 105.96%.

Fidelity National Information Services, Inc. (NYSE:FIS - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $78.96, but opened at $73.09. Fidelity National Information Services shares last traded at $71.92, with a volume of 478,767 shares.

Wall Street Analysts Forecast Growth

FIS has been the subject of a number of analyst reports. TD Cowen upgraded shares of Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a research note on Monday, April 21st. Truist Financial boosted their target price on shares of Fidelity National Information Services from $84.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Citigroup raised shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $79.00 to $86.00 in a research report on Monday, April 21st. Royal Bank Of Canada dropped their target price on shares of Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group boosted their target price on shares of Fidelity National Information Services from $81.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Fidelity National Information Services Trading Down 7.7%

The company's 50-day moving average is $80.47 and its 200-day moving average is $76.94. The firm has a market cap of $38.30 billion, a price-to-earnings ratio of 48.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.63.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.36. Fidelity National Information Services had a net margin of 8.10% and a return on equity of 18.15%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the company posted $1.36 EPS. The company's revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. Fidelity National Information Services's dividend payout ratio is presently 105.96%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in shares of Fidelity National Information Services in the 4th quarter valued at about $347,000. Wellington Management Group LLP increased its stake in shares of Fidelity National Information Services by 24.0% in the 4th quarter. Wellington Management Group LLP now owns 21,587 shares of the information technology services provider's stock valued at $1,744,000 after acquiring an additional 4,180 shares during the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of Fidelity National Information Services in the 4th quarter valued at about $381,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Fidelity National Information Services in the 4th quarter valued at about $13,295,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Fidelity National Information Services by 238.6% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 10,100 shares of the information technology services provider's stock valued at $816,000 after acquiring an additional 7,117 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Information Services Company Profile

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.

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