Fidelity National Information Services, Inc. (NYSE:FIS - Get Free Report) shares hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $75.17 and last traded at $74.89, with a volume of 864493 shares traded. The stock had previously closed at $70.45.
The information technology services provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.14. 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 prior year, the business earned $1.29 EPS. The firm's revenue was up 2.9% on a year-over-year basis.
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 issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services's dividend payout ratio is -12.81%.
Fidelity National Information Services announced that its Board of Directors has initiated a stock repurchase program on Monday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Stephens reissued an "overweight" rating and issued a $90.00 price objective on shares of Fidelity National Information Services in a research note on Tuesday. Truist Financial raised their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a "hold" rating in a research report on Tuesday, February 27th. UBS Group raised their target price 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. William Blair restated an "outperform" rating on shares of Fidelity National Information Services in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Fidelity National Information Services currently has a consensus rating of "Moderate Buy" and an average price target of $74.63.
Get Our Latest Analysis on Fidelity National Information Services
Insider Activity at Fidelity National Information Services
In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the business's stock in a transaction dated Monday, April 15th. The stock was bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.68% of the company's stock.
Hedge Funds Weigh In On Fidelity National Information Services
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Fidelity National Information Services by 12.7% during the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider's stock worth $3,199,306,000 after purchasing an additional 6,503,451 shares during the period. FIL Ltd increased its stake in Fidelity National Information Services by 27.3% during the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider's stock worth $773,552,000 after acquiring an additional 2,758,049 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Fidelity National Information Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider's stock worth $506,753,000 after acquiring an additional 121,154 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in Fidelity National Information Services by 6.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider's stock worth $505,956,000 after acquiring an additional 537,180 shares during the period. Finally, Norges Bank bought a new position in Fidelity National Information Services during the 4th quarter worth $478,594,000. Institutional investors own 96.23% of the company's stock.
Fidelity National Information Services Stock Performance
The stock has a 50 day simple moving average of $70.79 and a 200 day simple moving average of $62.91. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The stock has a market cap of $41.73 billion, a P/E ratio of -6.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98.
About Fidelity National Information Services
(
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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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