Fidelity National Information Services (NYSE:FIS) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Shares of Fidelity National Information Services, Inc. (NYSE:FIS) saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings. 4,186,392 shares changed hands during mid-day 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 15.35% and a net margin of 14.37%. During the same quarter in the prior year, the company earned $0.94 EPS.

Fidelity National Information Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Fidelity National Information Services’s payout ratio is currently 57.37%.

Wall Street Analysts Forecast Growth

FIS has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Fidelity National Information Services from $89.00 to $99.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. BNP Paribas cut Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods decreased their price objective on Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday. Jefferies Financial Group raised their target price on shares of Fidelity National Information Services from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company decreased their price target on shares of Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services currently has an average rating of “Hold” and a consensus price target of $87.95.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 701 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was bought at an average price of $79.97 per share, with a total value of $56,058.97. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now directly owns 32,199 shares in the company, valued at approximately $2,832,546.03. The trade was a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Several large investors have recently made changes to their positions in the company. Thoroughbred Financial Services LLC acquired a new position in shares of Fidelity National Information Services in the fourth quarter worth about $381,000. World Investment Advisors raised its stake in shares of Fidelity National Information Services by 2.9% in the 4th quarter. World Investment Advisors now owns 72,995 shares of the information technology services provider’s stock valued at $5,896,000 after acquiring an additional 2,024 shares in the last quarter. Westpac Banking Corp boosted its holdings in shares of Fidelity National Information Services by 66.2% during the 4th quarter. Westpac Banking Corp now owns 60,437 shares of the information technology services provider’s stock worth $4,881,000 after buying an additional 24,065 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Fidelity National Information Services in the fourth quarter valued at about $158,000. Finally, Geode Capital Management LLC grew its position in Fidelity National Information Services by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 13,051,569 shares of the information technology services provider’s stock worth $1,052,819,000 after purchasing an additional 208,127 shares during the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

Fidelity National Information Services Stock Down 0.8 %

The business 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 current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $39.08 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04.

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.