Fidelity National Information Services, Inc. (FIS) to Distribute Quarterly Dividend of $0.36 on June 24th

Fidelity National Information Services, Inc. (NYSE:FIS) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Investors of record on Monday, June 10th will be given a dividend of 0.36 per share by the information technology services provider on Monday, June 24th. This represents a $1.44 dividend on an annualized basis and a yield of 2.07%.

Fidelity National Information Services has increased its dividend payment by an average of 14.1% per year over the last three years. Fidelity National Information Services has a payout ratio of 27.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Fidelity National Information Services to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 27.3%.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $69.59 on Friday. The business has a 50 day moving average of $70.04 and a 200 day moving average of $61.89. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of -6.19, a PEG ratio of 0.89 and a beta of 0.97. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $74.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. Fidelity National Information Services’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. On average, sell-side analysts predict that Fidelity National Information Services will post 4.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FIS shares. Royal Bank of Canada lifted their price target on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price target 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. TheStreet raised Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Evercore ISI boosted their target price on Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, Truist Financial boosted their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.59.

Fidelity National Information Services declared that its Board of Directors has approved a share buyback program on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 775 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

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.