Fidelity National Information Services (NYSE:FIS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Fidelity National Information Services (NYSE:FIS – Get Rating) released its quarterly earnings results on Thursday. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.01, Briefing.com reports. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.67 billion. Fidelity National Information Services had a return on equity of 8.76% and a net margin of 6.43%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 EPS. Fidelity National Information Services updated its Q3 guidance to $1.74-$1.78 EPS and its FY22 guidance to $7.00-$7.10 EPS.

Fidelity National Information Services Price Performance

Shares of FIS traded up $0.80 during mid-day trading on Friday, reaching $97.37. The company had a trading volume of 3,425,893 shares, compared to its average volume of 3,745,851. The company has a market capitalization of $59.20 billion, a P/E ratio of 65.79, a P/E/G ratio of 1.06 and a beta of 0.76. Fidelity National Information Services has a twelve month low of $85.00 and a twelve month high of $135.62. The company’s 50-day moving average is $97.38 and its 200-day moving average is $99.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.74.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. Fidelity National Information Services’s payout ratio is presently 127.03%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FIS. The Goldman Sachs Group began coverage on Fidelity National Information Services in a research report on Tuesday, May 17th. They set a “buy” rating and a $128.00 price objective for the company. Oppenheimer cut their price objective on Fidelity National Information Services from $126.00 to $118.00 and set an “outperform” rating for the company in a research report on Monday, July 25th. Keefe, Bruyette & Woods cut their price objective on Fidelity National Information Services from $145.00 to $125.00 in a research report on Monday, July 11th. Robert W. Baird cut their price objective on Fidelity National Information Services from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Truist Financial cut their price objective on Fidelity National Information Services from $105.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services presently has an average rating of “Moderate Buy” and a consensus price target of $129.23.

Institutional Investors Weigh In On Fidelity National Information Services

A number of large investors have recently bought and sold shares of FIS. Brown Brothers Harriman & Co. grew its position in Fidelity National Information Services by 83.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 130 shares during the last quarter. Covestor Ltd grew its position in Fidelity National Information Services by 102.2% during the 1st quarter. Covestor Ltd now owns 641 shares of the information technology services provider’s stock worth $64,000 after acquiring an additional 324 shares during the last quarter. Continuum Advisory LLC bought a new stake in Fidelity National Information Services during the 1st quarter worth approximately $291,000. SkyView Investment Advisors LLC grew its position in Fidelity National Information Services by 8.8% during the 1st quarter. SkyView Investment Advisors LLC now owns 3,064 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 247 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in Fidelity National Information Services by 3.8% during the 1st quarter. EP Wealth Advisors LLC now owns 3,098 shares of the information technology services provider’s stock worth $311,000 after acquiring an additional 112 shares during the last quarter. 89.51% of the stock is currently owned by institutional investors.

About Fidelity National Information Services

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Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.