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

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

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock opened at $74.31 on Wednesday. Fidelity National Information Services has a one year low of $46.91 and a one year high of $75.71. The stock’s fifty day moving average is $70.79 and its 200 day moving average is $62.91. The stock has a market cap of $41.73 billion, a P/E ratio of -6.61, a P/E/G ratio of 0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75.

Fidelity National Information Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be issued a $0.36 dividend. The ex-dividend date 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 is currently -12.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI upped their price objective on Fidelity National Information Services from $75.00 to $80.00 and gave the company an “in-line” rating in a research report on Tuesday. Mizuho upped their price objective on Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Truist Financial upped their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Royal Bank of Canada upped their price objective on Fidelity National Information Services from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a research report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price objective on the stock. Eight investment 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.63.

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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is owned by insiders.

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.