Fidelity National Information Services (NYSE:FIS) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Fidelity National Information Services (NYSE:FIS) issued its quarterly earnings results on Monday. The information technology services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.11, Briefing.com reports. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. Fidelity National Information Services updated its FY 2024 guidance to 5.150-5.200 EPS and its FY24 guidance to $5.15-$5.20 EPS.

Fidelity National Information Services Stock Performance

Shares of FIS traded down $0.16 during midday trading on Wednesday, reaching $86.41. 8,002,281 shares of the stock were exchanged, compared to its average volume of 3,779,365. Fidelity National Information Services has a twelve month low of $49.91 and a twelve month high of $91.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.62. The company has a market cap of $47.14 billion, a P/E ratio of 34.43, a PEG ratio of 0.79 and a beta of 1.06. The stock’s 50 day simple moving average is $85.85 and its 200 day simple moving average is $79.22.

Fidelity National Information Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services’s dividend payout ratio is currently 57.37%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 626 shares of Fidelity National Information Services stock in a transaction dated Tuesday, October 15th. The shares were bought at an average cost of $88.25 per share, for a total transaction of $55,244.50. Following the completion of the acquisition, the director now owns 10,397 shares in the company, valued at approximately $917,535.25. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FIS has been the subject of several analyst reports. Bank of America raised their target price on shares of Fidelity National Information Services from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their target price on shares of Fidelity National Information Services from $89.00 to $99.00 and gave the company an “overweight” rating in a research note on Tuesday. Robert W. Baird raised their target price on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Fidelity National Information Services from $70.00 to $73.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Mizuho raised their target price on shares of Fidelity National Information Services from $91.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.