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

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%.

Shares of Fidelity National Information Services, Inc. (NYSE:FIS - Get Free Report) gapped down before the market opened 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 trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FIS shares. UBS Group reduced their price target on shares of Fidelity National Information Services from $84.00 to $82.00 and set a "neutral" rating on the stock in a research report on Wednesday. TD Cowen raised shares of Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 target price on the stock in a report on Monday, April 21st. Truist Financial upped their target price on Fidelity National Information Services from $84.00 to $85.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Citigroup raised Fidelity National Information Services from a "neutral" rating to a "buy" rating and raised their price target for the stock from $79.00 to $86.00 in a report on Monday, April 21st. Finally, Stephens boosted their price objective on Fidelity National Information Services from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.63.

Fidelity National Information Services Stock Up 1.5%

The company has a debt-to-equity ratio of 0.63, a current ratio of 0.59 and a quick ratio of 0.63. The stock has a market capitalization of $37.15 billion, a P/E ratio of 395.13 and a beta of 1.04. The stock's fifty day moving average is $79.78 and its two-hundred day moving average is $76.73.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.36. Fidelity National Information Services had a return on equity of 18.73% and a net margin of 1.09%. The business had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the firm posted $1.36 EPS. The company's quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts predict that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Fidelity National Information Services's dividend payout ratio (DPR) is presently 888.89%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sierra Ocean LLC grew its position in Fidelity National Information Services by 356.0% during the 1st quarter. Sierra Ocean LLC now owns 342 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 267 shares in the last quarter. YANKCOM Partnership grew its holdings in shares of Fidelity National Information Services by 118.8% during the first quarter. YANKCOM Partnership now owns 350 shares of the information technology services provider's stock valued at $26,000 after buying an additional 190 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Fidelity National Information Services by 92.1% during the first quarter. Meeder Asset Management Inc. now owns 342 shares of the information technology services provider's stock valued at $26,000 after buying an additional 164 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Fidelity National Information Services by 179.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 389 shares of the information technology services provider's stock valued at $29,000 after buying an additional 250 shares during the period. Finally, NewSquare Capital LLC lifted its stake in Fidelity National Information Services by 115.1% in the 2nd quarter. NewSquare Capital LLC now owns 357 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 191 shares in the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

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.