Fidelity National Information Services (NYSE:FIS) Issues Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Fidelity National Information Services (NYSE:FIS) released its earnings results on Monday. The information technology services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.96 by $0.14, RTT News reports. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis.

Fidelity National Information Services Stock Performance

Shares of Fidelity National Information Services stock opened at $74.31 on Wednesday. The business’s fifty day simple moving average is $70.79 and its 200 day simple moving average is $62.91. The firm has a market capitalization 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. Fidelity National Information Services has a 12 month low of $46.91 and a 12 month high of $75.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the acquisition, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on FIS. TheStreet raised Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Stephens reiterated an “overweight” rating and issued a $90.00 price target on shares of Fidelity National Information Services in a report on Tuesday. Morgan Stanley increased their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target on the stock. Finally, BNP Paribas lowered Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price target on the stock. in a report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.63.

Fidelity National Information Services announced that its Board of Directors has approved a share buyback program on Monday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

About Fidelity National Information Services

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.