Fidelity National Information Services (NYSE:FIS) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Fidelity National Information Services (NYSE:FIS) released its quarterly earnings results on Monday. The information technology services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.29 by $0.11, Briefing.com reports. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the business earned $0.94 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Fidelity National Information Services updated its FY 2024 guidance to 5.150-5.200 EPS and its FY24 guidance to $5.15-$5.20 EPS.

Fidelity National Information Services Trading Down 0.2 %

Shares of NYSE:FIS traded down $0.16 during mid-day trading on Wednesday, reaching $86.41. The stock had a trading volume of 8,002,281 shares, compared to its average volume of 3,779,365. The firm has a market cap of $47.14 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06. The firm has a 50 day simple moving average of $85.85 and a two-hundred day simple moving average of $79.22. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.62. Fidelity National Information Services has a twelve month low of $49.91 and a twelve month high of $91.98.

Fidelity National Information Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. Fidelity National Information Services’s dividend payout ratio is 57.37%.

Analysts Set New Price Targets

A number of research firms have weighed in on FIS. Bank of America increased their price target on shares of Fidelity National Information Services from $90.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Robert W. Baird raised their price objective on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday. TD Cowen raised their price objective on shares of Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a report on Tuesday. Stephens lifted their price objective on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Barclays boosted their target price on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 626 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average cost of $88.25 per share, for a total transaction of $55,244.50. Following the transaction, the director now directly owns 10,397 shares of the company’s stock, valued at approximately $917,535.25. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

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.