Fidelity National Information Services, Inc. (NYSE:FIS) – Equities researchers at Northcoast Research reduced their Q3 2017 earnings estimates for Fidelity National Information Services in a research report issued on Thursday. Northcoast Research analyst K. Mehta now expects that the information technology services provider will post earnings per share of $1.06 for the quarter, down from their prior estimate of $1.13.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Fidelity National Information Services had a net margin of 7.08% and a return on equity of 13.49%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS.

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FIS has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Fidelity National Information Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Cowen and Company reissued an “outperform” rating and set a $92.00 price target (up from $90.00) on shares of Fidelity National Information Services in a report on Monday, July 10th. Barclays PLC reissued an “overweight” rating and set a $102.00 price target (up from $94.00) on shares of Fidelity National Information Services in a report on Thursday, August 3rd. Credit Suisse Group reissued a “buy” rating and set a $88.00 price target on shares of Fidelity National Information Services in a report on Thursday, April 27th. Finally, BidaskClub raised shares of Fidelity National Information Services from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $92.20.

Fidelity National Information Services (NYSE:FIS) opened at 90.55 on Monday. The stock has a market cap of $29.88 billion, a PE ratio of 45.39 and a beta of 0.84. The stock’s 50 day moving average is $87.57 and its 200 day moving average is $83.41. Fidelity National Information Services has a 52 week low of $73.25 and a 52 week high of $91.90.

Fidelity National Information Services declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 2nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 13.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 14th. Fidelity National Information Services’s dividend payout ratio is presently 58.00%.

In other Fidelity National Information Services news, EVP James W. Woodall sold 70,667 shares of Fidelity National Information Services stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $83.02, for a total transaction of $5,866,774.34. Following the completion of the sale, the executive vice president now directly owns 133,509 shares in the company, valued at $11,083,917.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Norcross sold 158,122 shares of Fidelity National Information Services stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $83.24, for a total transaction of $13,162,075.28. Following the sale, the insider now owns 465,821 shares of the company’s stock, valued at $38,774,940.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,970 shares of company stock valued at $19,311,228. Company insiders own 2.66% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its position in Fidelity National Information Services by 21.2% in the second quarter. Prudential Financial Inc. now owns 559,732 shares of the information technology services provider’s stock valued at $47,801,000 after buying an additional 97,780 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Fidelity National Information Services by 15.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 30,669 shares of the information technology services provider’s stock valued at $2,619,000 after buying an additional 4,020 shares during the last quarter. American Century Companies Inc. raised its position in Fidelity National Information Services by 12.7% in the second quarter. American Century Companies Inc. now owns 2,877,181 shares of the information technology services provider’s stock valued at $245,711,000 after buying an additional 324,983 shares during the last quarter. Aviva PLC raised its position in Fidelity National Information Services by 0.9% in the second quarter. Aviva PLC now owns 205,781 shares of the information technology services provider’s stock valued at $17,572,000 after buying an additional 1,920 shares during the last quarter. Finally, Twin Capital Management Inc. acquired a new position in Fidelity National Information Services during the second quarter valued at approximately $935,000. 86.70% of the stock is owned by institutional investors and hedge funds.

About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

Earnings History and Estimates for Fidelity National Information Services (NYSE:FIS)

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