Fidelity National Information Servcs Inc (FIS) Expected to Announce Quarterly Sales of $2.36 Billion

Equities analysts expect Fidelity National Information Servcs Inc (NYSE:FIS) to announce sales of $2.36 billion for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Fidelity National Information Servcs’ earnings, with the lowest sales estimate coming in at $2.32 billion and the highest estimate coming in at $2.41 billion. Fidelity National Information Servcs reported sales of $2.31 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The business is expected to report its next earnings report on Tuesday, July 25th.

According to Zacks, analysts expect that Fidelity National Information Servcs will report full-year sales of $2.36 billion for the current fiscal year, with estimates ranging from $9.37 billion to $9.56 billion. For the next fiscal year, analysts expect that the company will post sales of $9.85 billion per share, with estimates ranging from $9.7 billion to $10.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Fidelity National Information Servcs.

Fidelity National Information Servcs (NYSE:FIS) last released its quarterly earnings results on Tuesday, May 2nd. The information technology services provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. Fidelity National Information Servcs had a return on equity of 13.03% and a net margin of 6.15%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis.

Several analysts have recently issued reports on FIS shares. Goldman Sachs Group Inc cut shares of Fidelity National Information Servcs from a “buy” rating to a “neutral” rating and set a $86.00 target price on the stock. in a research report on Monday, March 27th. Zacks Investment Research cut shares of Fidelity National Information Servcs from a “hold” rating to a “sell” rating in a research report on Tuesday, January 17th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $85.00 target price on shares of Fidelity National Information Servcs in a research report on Sunday, January 15th. William Blair restated an “outperform” rating on shares of Fidelity National Information Servcs in a research report on Tuesday, March 28th. Finally, Guggenheim started coverage on shares of Fidelity National Information Servcs in a research report on Thursday, March 30th. They set a “buy” rating and a $90.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $87.95.

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Fidelity National Information Servcs (NYSE:FIS) traded down 0.2370% during midday trading on Friday, reaching $83.1425. The company’s stock had a trading volume of 1,158,969 shares. The firm has a 50 day moving average price of $81.28 and a 200 day moving average price of $79.03. Fidelity National Information Servcs has a one year low of $68.03 and a one year high of $84.97. The firm has a market cap of $27.49 billion, a P/E ratio of 42.4413 and a beta of 0.84.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.16 annualized dividend and a yield of 1.39%. Fidelity National Information Servcs’s dividend payout ratio (DPR) is 60.12%.

In other Fidelity National Information Servcs news, Director James B. Stallings, Jr. sold 550 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $81.57, for a total value of $44,863.50. Following the completion of the sale, the director now directly owns 14,311 shares in the company, valued at $1,167,348.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Massey sold 15,282 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $81.94, for a total transaction of $1,252,207.08. Following the completion of the sale, the director now owns 78,942 shares of the company’s stock, valued at $6,468,507.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 904,110 shares of company stock valued at $73,811,272. 2.29% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Fidelity National Information Servcs during the fourth quarter worth about $174,638,000. Columbus Circle Investors boosted its position in Fidelity National Information Servcs by 683.7% in the third quarter. Columbus Circle Investors now owns 1,256,323 shares of the information technology services provider’s stock worth $96,775,000 after buying an additional 1,096,021 shares in the last quarter. Renaissance Technologies LLC boosted its position in Fidelity National Information Servcs by 469.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,167,401 shares of the information technology services provider’s stock worth $88,302,000 after buying an additional 962,300 shares in the last quarter. Valinor Management L.P. bought a new position in Fidelity National Information Servcs during the third quarter worth about $68,128,000. Finally, Artisan Partners Limited Partnership boosted its position in Fidelity National Information Servcs by 38.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,081,166 shares of the information technology services provider’s stock worth $233,059,000 after buying an additional 857,611 shares in the last quarter. 87.30% of the stock is owned by institutional investors and hedge funds.

About Fidelity National Information Servcs

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.

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