Fidelity National Information Services, Inc. (NYSE:FIS) to Issue Quarterly Dividend of $0.36

Fidelity National Information Services, Inc. (NYSE:FIS) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Investors of record on Monday, June 10th will be given a dividend of 0.36 per share by the information technology services provider on Monday, June 24th. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%.

Fidelity National Information Services has increased its dividend by an average of 14.1% annually over the last three years. Fidelity National Information Services has a payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fidelity National Information Services to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 27.3%.

Fidelity National Information Services Price Performance

FIS stock opened at $70.47 on Friday. The firm has a 50 day moving average of $69.92 and a 200 day moving average of $61.77. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $74.75.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business earned $1.71 earnings per share. Equities analysts predict that Fidelity National Information Services will post 4.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FIS shares. Truist Financial boosted their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Royal Bank of Canada boosted their target price on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. BNP Paribas cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Thursday, April 11th. UBS Group boosted their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Finally, Robert W. Baird cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $78.00 in a research note on Wednesday, March 13th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services declared that its board has initiated a stock repurchase plan on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Jeffrey A. Goldstein acquired 775 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares in the company, valued at $655,093.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

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.