Oppenheimer Holdings Analysts Raise Earnings Estimates for Fidelity National Information Services, Inc. (FIS)

Fidelity National Information Services, Inc. (NYSE:FIS) – Stock analysts at Oppenheimer Holdings increased their FY2017 earnings estimates for Fidelity National Information Services in a research note issued on Tuesday. Oppenheimer Holdings analyst G. Greene now forecasts that the information technology services provider will earn $4.40 per share for the year, up from their previous estimate of $4.27. Oppenheimer Holdings currently has a “Overweight” rating and a $100.00 price target on the stock. Oppenheimer Holdings also issued estimates for Fidelity National Information Services’ Q4 2017 earnings at $1.34 EPS, Q1 2018 earnings at $1.02 EPS, Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.21 EPS and Q4 2018 earnings at $1.49 EPS.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Tuesday, October 31st. The information technology services provider reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Fidelity National Information Services had a return on equity of 14.05% and a net margin of 5.82%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Fidelity National Information Services’s revenue was down 4.8% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Oppenheimer Holdings Analysts Raise Earnings Estimates for Fidelity National Information Services, Inc. (FIS)” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/11/02/oppenheimer-holdings-analysts-raise-earnings-estimates-for-fidelity-national-information-services-inc-fis.html.

Several other analysts have also recently issued reports on FIS. KeyCorp reiterated a “buy” rating on shares of Fidelity National Information Services in a research report on Wednesday. J P Morgan Chase & Co cut their target price on Fidelity National Information Services from $106.00 to $103.00 and set an “overweight” rating for the company in a research report on Wednesday. Credit Suisse Group reiterated an “outperform” rating and set a $108.00 target price (up previously from $100.00) on shares of Fidelity National Information Services in a research report on Wednesday. They noted that the move was a valuation call. Barclays PLC increased their target price on Fidelity National Information Services from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research cut Fidelity National Information Services from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $97.19.

Several institutional investors have recently made changes to their positions in FIS. Janus Henderson Group PLC boosted its holdings in shares of Fidelity National Information Services by 253.1% in the 2nd quarter. Janus Henderson Group PLC now owns 4,500,969 shares of the information technology services provider’s stock worth $384,370,000 after purchasing an additional 3,226,198 shares during the period. BlackRock Inc. boosted its holdings in shares of Fidelity National Information Services by 10.5% in the 2nd quarter. BlackRock Inc. now owns 23,234,161 shares of the information technology services provider’s stock worth $1,984,199,000 after purchasing an additional 2,208,363 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Fidelity National Information Services in the 2nd quarter worth approximately $176,220,000. Voya Investment Management LLC boosted its holdings in shares of Fidelity National Information Services by 80.3% in the 2nd quarter. Voya Investment Management LLC now owns 2,912,478 shares of the information technology services provider’s stock worth $248,726,000 after purchasing an additional 1,297,225 shares during the period. Finally, Crescent Grove Advisors LLC purchased a new position in shares of Fidelity National Information Services in the 2nd quarter worth approximately $106,333,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

In other news, Director Stephan A. James sold 18,368 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $90.14, for a total value of $1,655,691.52. Following the completion of the transaction, the director now owns 43,231 shares in the company, valued at approximately $3,896,842.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Anthony M. Jabbour sold 100,000 shares of Fidelity National Information Services stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $92.36, for a total value of $9,236,000.00. Following the completion of the transaction, the chief operating officer now owns 282,689 shares of the company’s stock, valued at approximately $26,109,156.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 520,549 shares of company stock valued at $47,224,679. Company insiders own 2.66% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, December 14th. Fidelity National Information Services’s dividend payout ratio (DPR) is 71.60%.

Fidelity National Information Services declared that its Board of Directors has approved a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

Earnings History and Estimates for Fidelity National Information Services (NYSE:FIS)

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