William Blair Comments on Fidelity National Information Services, Inc.’s Q2 2024 Earnings (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FIS) – Stock analysts at William Blair boosted their Q2 2024 earnings per share estimates for Fidelity National Information Services in a note issued to investors on Tuesday, May 7th. William Blair analyst C. Kennedy now expects that the information technology services provider will earn $1.23 per share for the quarter, up from their previous estimate of $1.20. William Blair has a “Outperform” rating on the stock. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $4.71 per share. William Blair also issued estimates for Fidelity National Information Services’ Q3 2024 earnings at $1.29 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $4.93 EPS, Q1 2025 earnings at $1.24 EPS, Q2 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.38 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $5.33 EPS.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the business posted $1.29 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year.

A number of other analysts have also issued reports on the company. Morgan Stanley raised their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Mizuho increased their target price on Fidelity National Information Services from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Stephens restated an “overweight” rating and issued a $90.00 price objective on shares of Fidelity National Information Services in a report on Tuesday. Susquehanna lifted their price target on shares of Fidelity National Information Services from $81.00 to $86.00 and gave the company a “positive” rating in a research report on Wednesday. Finally, BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.11.

Fidelity National Information Services Stock Down 0.5 %

FIS opened at $73.71 on Wednesday. The business’s fifty day simple moving average is $70.93 and its 200 day simple moving average is $62.99. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $75.71. The firm has a market cap of $41.39 billion, a P/E ratio of -7.21, a PEG ratio of 0.88 and a beta of 0.98. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.95%. Fidelity National Information Services’s dividend payout ratio (DPR) is -14.08%.

Fidelity National Information Services announced that its board has authorized a share repurchase program on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average price of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

A number of hedge funds have recently added to or reduced their stakes in FIS. Commonwealth Equity Services LLC boosted its position in shares of Fidelity National Information Services by 79.3% during the third quarter. Commonwealth Equity Services LLC now owns 125,574 shares of the information technology services provider’s stock worth $6,941,000 after buying an additional 55,531 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Fidelity National Information Services by 1.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,489 shares of the information technology services provider’s stock valued at $1,740,000 after buying an additional 311 shares in the last quarter. Mackenzie Financial Corp increased its stake in Fidelity National Information Services by 24.8% during the 3rd quarter. Mackenzie Financial Corp now owns 81,737 shares of the information technology services provider’s stock valued at $4,393,000 after buying an additional 16,266 shares during the period. Baystate Wealth Management LLC raised its position in shares of Fidelity National Information Services by 332.1% during the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after buying an additional 372 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in shares of Fidelity National Information Services by 4.2% in the third quarter. IFM Investors Pty Ltd now owns 124,981 shares of the information technology services provider’s stock valued at $6,908,000 after acquiring an additional 5,086 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors.

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.