Fidelity National Information Services (NYSE:FIS) Reaches New 12-Month Low – Here’s What Happened

Fidelity National Information Services, Inc. (NYSE:FIS)’s stock price hit a new 52-week low on Wednesday. The company traded as low as $27.93 and last traded at $28.7950, with a volume of 803,677 shares traded. The stock had previously closed at $28.31.

Analyst Ratings Changes

Several research analysts have recently issued reports on FIS shares. Royal Bank Of Canada cut shares of Fidelity National Information Services from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $53.00 to $37.00 in a report on Thursday, November 5th. JPMorgan Chase & Co. cut Fidelity National Information Services from an “overweight” rating to a “neutral” rating and set a $38.00 target price on the stock. in a report on Wednesday, November 4th. Susquehanna dropped their target price on Fidelity National Information Services from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. William Blair downgraded Fidelity National Information Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 4th. Finally, Keefe, Bruyette & Woods decreased their price target on Fidelity National Information Services from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, November 5th. Six analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Fidelity National Information Services currently has a consensus rating of “Hold” and a consensus price target of $41.76.

Fidelity National Information Services Trading Up 4.2%

The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $35.72 and its 200 day simple moving average is $42.82. The stock has a market capitalization of $15.21 billion, a P/E ratio of 4.40, a PEG ratio of 0.35 and a beta of 0.84.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Fidelity National Information Services had a net margin of 26.77% and a return on equity of 20.42%. The business’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 EPS. Equities research analysts anticipate that Fidelity National Information Services, Inc. will post 5.85 EPS for the current fiscal year.

Fidelity National Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 14th. This represents a $1.76 annualized dividend and a yield of 6.0%. Fidelity National Information Services’s dividend payout ratio is currently 26.27%.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Kourtney Gibson purchased 1,800 shares of the firm’s stock in a transaction on Friday, November 6th. The shares were purchased at an average price of $29.00 per share, for a total transaction of $52,200.00. Following the completion of the transaction, the director owned 5,903 shares in the company, valued at $171,187. This represents a 43.87% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Goldstein purchased 1,585 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was acquired at an average price of $36.40 per share, for a total transaction of $57,694.00. Following the transaction, the director owned 18,697 shares of the company’s stock, valued at $680,570.80. The trade was a 9.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

A number of institutional investors and hedge funds have recently modified their holdings of FIS. BlackRock Inc. purchased a new position in shares of Fidelity National Information Services in the second quarter worth approximately $1,730,200,000. South Dakota Investment Council raised its holdings in shares of Fidelity National Information Services by 46.2% during the first quarter. South Dakota Investment Council now owns 228,021 shares of the information technology services provider’s stock valued at $10,696,000 after acquiring an additional 72,040 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Fidelity National Information Services during the second quarter valued at approximately $2,448,000. Nykredit A S purchased a new stake in shares of Fidelity National Information Services in the 2nd quarter valued at approximately $5,143,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Fidelity National Information Services in the 2nd quarter valued at approximately $10,891,000. 96.23% of the stock is owned by institutional investors and hedge funds.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc. (FIS) provides financial technology and services to banks, credit unions, capital markets firms and other financial institutions. Its offerings include systems for processing transactions, managing accounts and supporting day-to-day financial operations. The company’s products and services also cover digital banking, payments, risk management, regulatory compliance, treasury operations and capital markets activities such as trading and securities processing.