Fidelity National Information Services (FIS) has been the subject of significant market activity recently, making it a prominent fixture in the fintech space. The company has seen interest from several major investment firms, with Artemis Investment Management and FCF Advisors increasing their hold, while Reinhart Partners and NewEdge Advisors have reduced their shares. A notable increase to FIS's price target by Barclays and entrance into large options trading have sparked investor attention. Further endorsing its standing, FIS was among hedge fund manager Seth Klarman’s top stock picks.
On the operational front, FIS has been regaining its payment power, engaging fintech startups in its accelerator program, and seeking growth via acquisitions. The company also unveiled a new digital trading storefront, which is expected to revolutionize cross-asset trading.
FIS reportedly surpassed estimates in its Q2 earnings and revenues while also satisfactory performing in Q1 2024 earnings. Recognizing this growth pattern, the company raised its profit forecast and announced a $3 Billion buyback. It also had a strong Q2 beat and upwardly adjusted the full-year outlook for 2024. The company’s partnership with Commerce Bank aims to enhance its Loyalty Program offerings.
Fidelity National Information Services FIS News Analytics from Mon, 26 Feb 2024 08:00:00 GMT to Sat, 12 Oct 2024 10:56:22 GMT -
Rating 7
- Innovation 2
- Information 8
- Rumor -2
