Fidelity National Information Services (NYSE:FIS) Sees Strong Trading Volume After Earnings Beat

Fidelity National Information Services, Inc. (NYSE:FIS) saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 4,186,392 shares traded hands during trading, an increase of 41% from the previous session’s volume of 2,975,550 shares.The stock last traded at $73.19 and had previously closed at $73.16.

The information technology services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. During the same quarter last year, the business earned $0.94 earnings per share.

Fidelity National Information Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, March 11th. Fidelity National Information Services’s payout ratio is 57.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FIS shares. Compass Point dropped their price target on Fidelity National Information Services from $126.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird increased their price target on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Stephens reduced their price objective on Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Raymond James downgraded Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $115.00 to $101.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price target on Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.55.

Insiders Place Their Bets

In other Fidelity National Information Services news, EVP Lenore D. Williams sold 11,305 shares of Fidelity National Information Services stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $87.97, for a total value of $994,500.85. Following the completion of the transaction, the executive vice president now directly owns 32,199 shares of the company’s stock, valued at $2,832,546.03. The trade was a 25.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey A. Goldstein purchased 701 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was acquired at an average price of $79.97 per share, with a total value of $56,058.97. Following the purchase, the director now owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. This represents a 6.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its holdings in shares of Fidelity National Information Services by 94.1% in the 3rd quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Fidelity National Information Services in the third quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Fidelity National Information Services in the fourth quarter valued at approximately $30,000. Groupama Asset Managment increased its holdings in shares of Fidelity National Information Services by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 42,342 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 319 shares during the period. Finally, Concord Wealth Partners boosted its stake in shares of Fidelity National Information Services by 50.2% during the third quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock worth $37,000 after buying an additional 146 shares during the period. 96.23% of the stock is owned by institutional investors and hedge funds.

Fidelity National Information Services Price Performance

The company has a 50-day moving average of $81.08 and a 200-day moving average of $82.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $39.54 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 0.63 and a beta of 1.04.

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.