According to Zacks, “Fidelity National displays an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Also, earnings estimate have been revised upward ahead of the company's first quarter release. It remains well positioned for growth backed by its attractive core business with a recurring revenue model, digitization, and several ongoing strategic initiatives. Strong capital position keeps the company well poised to undertake opportunistic expansion strategies. Further, the company's international exposure will support revenue growth. However, shares of Fidelity National have underperformed the industry in the past three months. The company remains exposed to significant competition from new entrants. Also, its capital deployment activities seem to be unsustainable.”
FIS has been the subject of a number of other research reports. Raymond James started coverage on Fidelity National Information Servcs in a report on Friday, April 12th. They set a strong-buy rating and a $131.00 price target for the company. William Blair reiterated an outperform rating on shares of Fidelity National Information Servcs in a report on Tuesday, February 12th. SunTrust Banks cut Fidelity National Information Servcs from a buy rating to a hold rating and set a $106.54 price target for the company. in a report on Tuesday, March 19th. ValuEngine cut Fidelity National Information Servcs from a buy rating to a hold rating in a report on Tuesday, January 29th. Finally, Wedbush lifted their price target on Fidelity National Information Servcs from $110.00 to $140.00 and gave the stock an outperform rating in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $124.81.
Fidelity National Information Servcs (NYSE:FIS) last announced its quarterly earnings data on Tuesday, February 12th. The information technology services provider reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.02. Fidelity National Information Servcs had a return on equity of 16.71% and a net margin of 10.06%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the company earned $1.36 EPS. Fidelity National Information Servcs’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Fidelity National Information Servcs will post 7.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Fidelity National Information Servcs’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.25%. Fidelity National Information Servcs’s dividend payout ratio (DPR) is 26.77%.
In related news, Director Alexandar Navab, Jr. acquired 5,075 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $107.22 per share, for a total transaction of $544,141.50. Following the completion of the transaction, the director now directly owns 5,075 shares of the company’s stock, valued at approximately $544,141.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary Norcross sold 160,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $108.81, for a total transaction of $17,409,600.00. Following the sale, the chief executive officer now owns 249,434 shares of the company’s stock, valued at $27,140,913.54. The disclosure for this sale can be found here. Company insiders own 2.08% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Aspire Private Capital LLC acquired a new stake in Fidelity National Information Servcs during the fourth quarter worth approximately $145,000. BOKF NA raised its position in shares of Fidelity National Information Servcs by 1.4% in the fourth quarter. BOKF NA now owns 33,262 shares of the information technology services provider’s stock valued at $3,411,000 after buying an additional 466 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Fidelity National Information Servcs in the first quarter valued at approximately $315,000. Bremer Trust National Association acquired a new stake in shares of Fidelity National Information Servcs in the fourth quarter valued at approximately $110,000. Finally, Braun Stacey Associates Inc. raised its position in shares of Fidelity National Information Servcs by 1.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 104,304 shares of the information technology services provider’s stock valued at $10,697,000 after buying an additional 1,482 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.
About Fidelity National Information Servcs
Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.
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