Q2 2024 EPS Estimates for Fidelity National Information Services, Inc. (NYSE:FIS) Raised by Zacks Research

Fidelity National Information Services, Inc. (NYSE:FIS) – Investment analysts at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for shares of Fidelity National Information Services in a report issued on Wednesday, June 19th. Zacks Research analyst R. Department now expects that the information technology services provider will earn $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 $4.96 per share. Zacks Research also issued estimates for Fidelity National Information Services’ FY2024 earnings at $4.91 EPS.

Several other equities research analysts have also issued reports on FIS. Truist Financial lifted their price target on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Mizuho increased their price target on shares of Fidelity National Information Services from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Evercore ISI raised their target price on Fidelity National Information Services from $75.00 to $80.00 and gave the company an “in-line” rating in a report on Tuesday, May 7th. Finally, Royal Bank of Canada boosted their price target on Fidelity National Information Services from $82.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Eight 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 stock. According to MarketBeat, Fidelity National Information Services currently has an average rating of “Moderate Buy” and a consensus price target of $79.32.

Fidelity National Information Services Stock Down 0.7 %

Shares of NYSE:FIS opened at $76.49 on Friday. The business has a fifty day simple moving average of $74.26 and a 200 day simple moving average of $68.00. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.59. 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:FIS) last released its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Fidelity National Information Services had a negative net margin of 54.14% and a positive return on equity of 13.91%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS.

Fidelity National Information Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -14.08%.

Fidelity National Information Services announced that its Board of Directors has approved a share repurchase plan 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The shares were bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Fidelity National Information Services by 51.0% during 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 acquired a new position in shares of Fidelity National Information Services during the 4th quarter worth about $1,244,000. Quest Partners LLC acquired a new stake in shares of Fidelity National Information Services in the fourth quarter valued at about $653,000. Jump Financial LLC acquired a new position in Fidelity National Information Services during the fourth quarter valued at approximately $752,000. Finally, Dimensional Fund Advisors LP grew its stake in Fidelity National Information Services by 25.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,013,537 shares of the information technology services provider’s stock valued at $301,194,000 after purchasing an additional 1,027,466 shares in the last quarter. Institutional investors own 96.23% of the company’s stock.

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.