Zacks Research Analysts Boost Earnings Estimates for Fidelity National Information Services, Inc. (NYSE:FIS)

Fidelity National Information Services, Inc. (NYSE:FISFree Report) – Analysts at Zacks Research lifted their Q2 2024 earnings estimates for shares of Fidelity National Information Services in a research report issued on Wednesday, June 19th. Zacks Research analyst R. Department now expects that the information technology services provider will post earnings of $1.23 per share for the quarter, up from their prior forecast of $1.22. The consensus estimate for Fidelity National Information Services’ current full-year earnings is $4.97 per share. Zacks Research also issued estimates for Fidelity National Information Services’ FY2024 earnings at $4.91 EPS.

Several other research firms have also recently commented on FIS. Morgan Stanley raised their target price 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. BNP Paribas downgraded 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. TD Cowen boosted their target price on shares of Fidelity National Information Services from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They set a “buy” rating and a $84.00 target price on the stock. Finally, Mizuho lifted their price target on shares of Fidelity National Information Services from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.32.

Get Our Latest Analysis on FIS

Fidelity National Information Services Stock Performance

FIS stock opened at $75.96 on Friday. The firm has a market cap of $42.25 billion, a PE ratio of -7.43, a price-to-earnings-growth ratio of 0.78 and a beta of 1.05. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $74.36 and a 200-day moving average price of $68.17. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $78.73.

Fidelity National Information Services (NYSE:FISGet Free Report) last issued its quarterly earnings data 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. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.91% and a negative net margin of 54.14%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share.

Institutional Investors Weigh In On Fidelity National Information Services

A number of hedge funds and other institutional investors have recently bought and sold shares of FIS. JPMorgan Chase & Co. raised its position in shares of Fidelity National Information Services by 51.0% in the third quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider’s stock worth $166,408,000 after buying an additional 1,016,719 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Fidelity National Information Services during the fourth quarter valued at approximately $1,244,000. Quest Partners LLC purchased a new position in Fidelity National Information Services during the 4th quarter valued at $653,000. Jump Financial LLC bought a new position in Fidelity National Information Services in the fourth quarter worth about $752,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Fidelity National Information Services by 25.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,013,537 shares of the information technology services provider’s stock worth $301,194,000 after acquiring an additional 1,027,466 shares in the last quarter. Institutional investors own 96.23% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were purchased 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 of the company’s stock, valued at $655,093.24. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Fidelity National Information Services declared that its Board of Directors has initiated a share repurchase plan on Monday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Fidelity National Information Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 annualized dividend and a yield of 1.90%. Fidelity National Information Services’s dividend payout ratio is currently -14.08%.

Fidelity National Information Services Company Profile

(Get Free Report)

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.

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

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