Fidelity National Information Services (FIS) closed at $62.96 in the latest trading session, marking a -1.08% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.6%. On the other hand, the Dow registered a loss of 0.17%, and the technology-centric Nasdaq decreased by 0.92%.Shares of the banking and payment technologies company witnessed a gain of 2.94% over the previous month, trailing the performance of the Business Services sector with its gain of 6.58% and the S&P 5 ...

Al Jazeera has called 2023 “the year of the layoffs.” As the news organization pointed out recently, it started badly in 2023, when Salesforce (NYSE:CRM) cut 10% of its global staff. CEO Marc Benioff might be a big believer in stakeholder capitalism, but 2023 proved that even he wouldn’t stand for an excessive work force. Perhaps the problem was that the U.S. created too many jobs in 2022. Approximately 4.5 million were added, the second-highest in 40 years. An increase like that may have been the deciding ...

The latest trading session saw Fidelity National Information Services (FIS) ending at $61.71, denoting a -0.93% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.Coming into today, shares of the banking and payment technologies company had gained 1.43% in the past month. In that same time, the Business Services sector gained 5%, while the S&P 500 gained 4.59%.Market participants will be closel ...

CINCINNATI--(BUSINESS WIRE)--Worldpay, LLC, (the “Company”), a global industry leader in payments technology and solutions, announced today that it has closed upon its previously announced sale and will now operate as an independent company. The Company will be overseen by leading private equity firm GTCR, with a 55% majority ownership interest, while FIS® (NYSE: FIS), a global leader in financial services technology, will retain a 45% ownership interest. In conjunction with the closing of the sale, Charles ...

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global financial technology leader FIS® (NYSE: FIS) has today announced the launch of its 2024 FIS Fintech Hangout Series, an initiative that fosters and connects fintech startups, investors, financial institutions, FIS experts, and participants from the FIS Fintech Accelerator Program. This series will spark meaningful conversations, share best practices, and showcase the amazing work of the participating fintechs. The Fintech Hangouts supports FIS’ 9-year focus on ide ...

Fidelity National Information Services (FIS) ended the recent trading session at $63.15, demonstrating a -0.55% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.76%.Coming into today, shares of the banking and payment technologies company had gained 5.71% in the past month. In that same time, the Business Services sector gained 1.8%, while the S&P 500 gai ...

FIDELITY NATIONAL INFORMATION SERVICES, INC. 45 | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------|---------------|--------------------|-------|-----------------------------| | Contract costs on implementations in progress | September \n$ | 30, 2023 \n230 | $ | December 31, 2022 \n240 | | Contract origination costs on completed implementations, net | | 547 | | 516 | | Contract fulfillment costs on completed implementations, net | | 231 | | 217 | | Tot ...

Fidelity National Information Servcs Inc. (NYSE:FIS) Q2 2023 Earnings Conference Call August 2, 2023 8:30 AM ET Company Participants George Mihalos - Head, Investor Relations Stephanie Ferris - Chief Executive Officer and President Erik Hoag - Chief Financial Officer Conference Call Participants Rayna Kumar - UBS David Togut - Evercore ISI Jason Kupferberg - Bank of America Tien-Tsin Huang - JPMorgan Dave Koning - Baird Darrin Peller - Wolfe Research Ashwin Shirvaikar - Citi James Faucette - Morgan Stanley ...

29 Revenue for the three months ended June 30, 2023, increased primarily due to strong recurring revenue growth in Banking and Capital Markets segments and increased revenue in Merchant driven by increased volumes. Selling, General and Administrative Expenses Operating Income and Operating Margin | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------|---------|----------------|-- ...

Summary of FIS and GTCR Acquisition of Worldpay Company and Industry - **Company**: Fidelity National Information Services, Inc. (FIS) - **Industry**: Financial Technology and Payment Solutions Core Points and Arguments - **Acquisition Agreement**: FIS has signed a definitive agreement for GTCR to acquire a 55% stake in Worldpay, valuing the company at $18.5 billion, which includes $1 billion in contingent consideration based on GTCR's returns exceeding certain thresholds [5][6] - **Valuation Multiple**: The transaction reflects a 9.8-times multiple on expected fiscal 2023 adjusted EBITDA, which is a 20% premium to FIS' recent valuation of approximately 8 times [6][7] - **Separation Strategy**: This transaction accelerates FIS' plan to create two independent companies, enhancing strategic flexibility and maximizing shareholder value [5][8] - **Proceeds and Financial Impact**: FIS will receive approximately $11.7 billion in net proceeds at closing, allowing the company to deleverage to approximately 2.5 times, ensuring an attractive investment-grade credit rating [8][9] - **Retained Interest**: FIS will retain a 45% ownership interest in the new joint venture with GTCR, allowing participation in future returns [8][10] - **Worldpay's Market Position**: Worldpay is the largest global merchant acquirer by transactions, processing $2 trillion in payments volume in 2022 [10] - **GTCR's Commitment**: GTCR will invest up to $1.25 billion in equity capital to support Worldpay's growth and competitive position [10] Additional Important Content - **Commercial Relationships**: The ongoing commercial agreements between FIS and Worldpay will preserve integrated value propositions for clients, minimizing potential dis-synergies [11] - **Future Outlook**: FIS is focused on improving business performance, free cash flow, and capital allocation, with a commitment to innovation and operational efficiency [14][15] - **Second Quarter Expectations**: FIS anticipates strong second quarter results, with revenue, adjusted EBITDA, and adjusted earnings per share expected to exceed the midpoint of guidance ranges [13][16]