Intrinsic value of Fidelity National Information Services - FIS

Previous Close

$104.80

  Intrinsic Value

$63.01

stock screener

  Rating & Target

sell

-40%

Previous close

$104.80

 
Intrinsic value

$63.01

 
Up/down potential

-40%

 
Rating

sell

Our model is not good at valuating stocks of financial companies, such as FIS.

We calculate the intrinsic value of FIS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 34.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  9,305
  9,519
  9,764
  10,039
  10,343
  10,677
  11,041
  11,434
  11,858
  12,313
  12,800
  13,320
  13,873
  14,461
  15,085
  15,746
  16,445
  17,185
  17,967
  18,793
  19,664
  20,583
  21,551
  22,571
  23,646
  24,777
  25,968
  27,221
  28,539
  29,926
Variable operating expenses, $m
  7,964
  8,103
  8,261
  8,439
  8,636
  8,853
  9,088
  9,343
  9,618
  9,913
  8,294
  8,631
  8,989
  9,370
  9,774
  10,203
  10,656
  11,136
  11,642
  12,177
  12,742
  13,337
  13,964
  14,626
  15,322
  16,055
  16,827
  17,639
  18,493
  19,391
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  7,964
  8,103
  8,261
  8,439
  8,636
  8,853
  9,088
  9,343
  9,618
  9,913
  8,294
  8,631
  8,989
  9,370
  9,774
  10,203
  10,656
  11,136
  11,642
  12,177
  12,742
  13,337
  13,964
  14,626
  15,322
  16,055
  16,827
  17,639
  18,493
  19,391
Operating income, $m
  1,341
  1,417
  1,503
  1,600
  1,707
  1,824
  1,952
  2,091
  2,240
  2,400
  4,506
  4,689
  4,884
  5,091
  5,310
  5,543
  5,789
  6,050
  6,325
  6,616
  6,922
  7,246
  7,586
  7,946
  8,324
  8,722
  9,141
  9,582
  10,047
  10,535
EBITDA, $m
  4,009
  4,101
  4,206
  4,325
  4,456
  4,600
  4,756
  4,926
  5,109
  5,305
  5,514
  5,738
  5,976
  6,230
  6,498
  6,783
  7,085
  7,403
  7,740
  8,096
  8,471
  8,867
  9,284
  9,724
  10,187
  10,674
  11,187
  11,727
  12,295
  12,892
Interest expense (income), $m
  351
  473
  488
  505
  525
  548
  572
  600
  630
  662
  696
  734
  773
  816
  861
  909
  960
  1,014
  1,071
  1,132
  1,196
  1,263
  1,334
  1,409
  1,488
  1,572
  1,660
  1,752
  1,849
  1,952
  2,060
Earnings before tax, $m
  868
  929
  998
  1,074
  1,159
  1,252
  1,353
  1,461
  1,578
  1,704
  3,773
  3,916
  4,068
  4,230
  4,401
  4,583
  4,775
  4,978
  5,193
  5,420
  5,659
  5,911
  6,177
  6,457
  6,752
  7,062
  7,389
  7,733
  8,095
  8,475
Tax expense, $m
  234
  251
  269
  290
  313
  338
  365
  395
  426
  460
  1,019
  1,057
  1,098
  1,142
  1,188
  1,237
  1,289
  1,344
  1,402
  1,463
  1,528
  1,596
  1,668
  1,743
  1,823
  1,907
  1,995
  2,088
  2,186
  2,288
Net income, $m
  634
  678
  728
  784
  846
  914
  987
  1,067
  1,152
  1,244
  2,754
  2,858
  2,970
  3,088
  3,213
  3,345
  3,486
  3,634
  3,791
  3,957
  4,131
  4,315
  4,509
  4,714
  4,929
  5,156
  5,394
  5,645
  5,909
  6,187

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  25,015
  25,590
  26,248
  26,986
  27,804
  28,702
  29,679
  30,737
  31,877
  33,101
  34,410
  35,806
  37,293
  38,873
  40,550
  42,327
  44,208
  46,197
  48,299
  50,519
  52,860
  55,330
  57,933
  60,675
  63,564
  66,605
  69,806
  73,175
  76,719
  80,446
Adjusted assets (=assets-cash), $m
  25,015
  25,590
  26,248
  26,986
  27,804
  28,702
  29,679
  30,737
  31,877
  33,101
  34,410
  35,806
  37,293
  38,873
  40,550
  42,327
  44,208
  46,197
  48,299
  50,519
  52,860
  55,330
  57,933
  60,675
  63,564
  66,605
  69,806
  73,175
  76,719
  80,446
Revenue / Adjusted assets
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
Average production assets, $m
  10,776
  11,024
  11,307
  11,625
  11,977
  12,364
  12,785
  13,241
  13,732
  14,259
  14,823
  15,424
  16,065
  16,746
  17,468
  18,234
  19,044
  19,901
  20,806
  21,762
  22,771
  23,835
  24,956
  26,137
  27,382
  28,692
  30,071
  31,522
  33,049
  34,654
Working capital, $m
  56
  57
  59
  60
  62
  64
  66
  69
  71
  74
  77
  80
  83
  87
  91
  94
  99
  103
  108
  113
  118
  123
  129
  135
  142
  149
  156
  163
  171
  180
Total debt, $m
  9,031
  9,355
  9,725
  10,141
  10,602
  11,107
  11,657
  12,253
  12,895
  13,584
  14,321
  15,107
  15,944
  16,834
  17,778
  18,778
  19,837
  20,957
  22,140
  23,390
  24,708
  26,099
  27,564
  29,108
  30,734
  32,447
  34,249
  36,145
  38,141
  40,239
Total liabilities, $m
  14,083
  14,407
  14,777
  15,193
  15,654
  16,159
  16,709
  17,305
  17,947
  18,636
  19,373
  20,159
  20,996
  21,886
  22,830
  23,830
  24,889
  26,009
  27,192
  28,442
  29,760
  31,151
  32,616
  34,160
  35,786
  37,499
  39,301
  41,197
  43,193
  45,291
Total equity, $m
  10,931
  11,183
  11,470
  11,793
  12,150
  12,543
  12,970
  13,432
  13,930
  14,465
  15,037
  15,647
  16,297
  16,988
  17,720
  18,497
  19,319
  20,188
  21,107
  22,077
  23,100
  24,179
  25,317
  26,515
  27,777
  29,106
  30,505
  31,977
  33,526
  35,155
Total liabilities and equity, $m
  25,014
  25,590
  26,247
  26,986
  27,804
  28,702
  29,679
  30,737
  31,877
  33,101
  34,410
  35,806
  37,293
  38,874
  40,550
  42,327
  44,208
  46,197
  48,299
  50,519
  52,860
  55,330
  57,933
  60,675
  63,563
  66,605
  69,806
  73,174
  76,719
  80,446
Debt-to-equity ratio
  0.830
  0.840
  0.850
  0.860
  0.870
  0.890
  0.900
  0.910
  0.930
  0.940
  0.950
  0.970
  0.980
  0.990
  1.000
  1.020
  1.030
  1.040
  1.050
  1.060
  1.070
  1.080
  1.090
  1.100
  1.110
  1.110
  1.120
  1.130
  1.140
  1.140
Adjusted equity ratio
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  634
  678
  728
  784
  846
  914
  987
  1,067
  1,152
  1,244
  2,754
  2,858
  2,970
  3,088
  3,213
  3,345
  3,486
  3,634
  3,791
  3,957
  4,131
  4,315
  4,509
  4,714
  4,929
  5,156
  5,394
  5,645
  5,909
  6,187
Depreciation, amort., depletion, $m
  2,667
  2,684
  2,703
  2,725
  2,749
  2,775
  2,804
  2,835
  2,868
  2,904
  1,008
  1,049
  1,093
  1,139
  1,188
  1,240
  1,295
  1,354
  1,415
  1,480
  1,549
  1,621
  1,698
  1,778
  1,863
  1,952
  2,046
  2,144
  2,248
  2,357
Funds from operations, $m
  3,301
  3,362
  3,432
  3,509
  3,595
  3,689
  3,791
  3,902
  4,021
  4,148
  3,762
  3,908
  4,062
  4,227
  4,401
  4,586
  4,781
  4,988
  5,206
  5,437
  5,680
  5,937
  6,207
  6,492
  6,792
  7,107
  7,440
  7,789
  8,157
  8,544
Change in working capital, $m
  1
  1
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  6
  7
  7
  8
  8
  8
Cash from operations, $m
  3,300
  3,361
  3,430
  3,508
  3,593
  3,687
  3,789
  3,899
  4,018
  4,146
  3,759
  3,905
  4,059
  4,223
  4,397
  4,582
  4,777
  4,984
  5,202
  5,432
  5,675
  5,931
  6,201
  6,486
  6,785
  7,101
  7,433
  7,782
  8,149
  8,536
Maintenance CAPEX, $m
  -719
  -733
  -750
  -769
  -791
  -815
  -841
  -870
  -901
  -934
  -970
  -1,008
  -1,049
  -1,093
  -1,139
  -1,188
  -1,240
  -1,295
  -1,354
  -1,415
  -1,480
  -1,549
  -1,621
  -1,698
  -1,778
  -1,863
  -1,952
  -2,046
  -2,144
  -2,248
New CAPEX, $m
  -209
  -248
  -283
  -318
  -352
  -387
  -421
  -456
  -491
  -527
  -564
  -602
  -641
  -681
  -722
  -766
  -810
  -857
  -905
  -956
  -1,009
  -1,064
  -1,121
  -1,181
  -1,244
  -1,310
  -1,379
  -1,451
  -1,527
  -1,606
Cash from investing activities, $m
  -928
  -981
  -1,033
  -1,087
  -1,143
  -1,202
  -1,262
  -1,326
  -1,392
  -1,461
  -1,534
  -1,610
  -1,690
  -1,774
  -1,861
  -1,954
  -2,050
  -2,152
  -2,259
  -2,371
  -2,489
  -2,613
  -2,742
  -2,879
  -3,022
  -3,173
  -3,331
  -3,497
  -3,671
  -3,854
Free cash flow, $m
  2,372
  2,380
  2,397
  2,421
  2,450
  2,486
  2,527
  2,574
  2,626
  2,684
  2,226
  2,295
  2,369
  2,450
  2,536
  2,628
  2,726
  2,831
  2,943
  3,061
  3,186
  3,318
  3,458
  3,607
  3,763
  3,928
  4,102
  4,285
  4,478
  4,682
Issuance/(repayment) of debt, $m
  268
  324
  370
  416
  461
  505
  550
  596
  642
  689
  737
  786
  837
  890
  944
  1,000
  1,059
  1,120
  1,183
  1,249
  1,318
  1,390
  1,466
  1,544
  1,626
  1,712
  1,802
  1,896
  1,995
  2,099
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  268
  324
  370
  416
  461
  505
  550
  596
  642
  689
  737
  786
  837
  890
  944
  1,000
  1,059
  1,120
  1,183
  1,249
  1,318
  1,390
  1,466
  1,544
  1,626
  1,712
  1,802
  1,896
  1,995
  2,099
Total cash flow (excl. dividends), $m
  2,640
  2,704
  2,767
  2,836
  2,911
  2,991
  3,077
  3,170
  3,268
  3,373
  2,962
  3,081
  3,206
  3,339
  3,480
  3,629
  3,786
  3,951
  4,126
  4,310
  4,504
  4,709
  4,924
  5,151
  5,389
  5,640
  5,904
  6,182
  6,474
  6,781
Retained Cash Flow (-), $m
  -220
  -251
  -287
  -323
  -358
  -392
  -427
  -462
  -498
  -535
  -572
  -610
  -650
  -691
  -733
  -777
  -822
  -869
  -919
  -970
  -1,023
  -1,079
  -1,138
  -1,199
  -1,262
  -1,329
  -1,399
  -1,472
  -1,549
  -1,629
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  2,420
  2,453
  2,480
  2,514
  2,553
  2,599
  2,650
  2,707
  2,770
  2,838
  2,390
  2,471
  2,557
  2,649
  2,747
  2,852
  2,964
  3,082
  3,207
  3,340
  3,481
  3,629
  3,786
  3,952
  4,127
  4,311
  4,505
  4,710
  4,925
  5,152
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  2,263
  2,133
  1,990
  1,848
  1,707
  1,566
  1,427
  1,290
  1,156
  1,027
  741
  648
  560
  478
  402
  334
  273
  219
  173
  134
  102
  76
  55
  39
  27
  18
  12
  8
  5
  3
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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. The GFS segment is focused on serving the financial institutions and/or international financial institutions with a range of capital markets and asset management and insurance solutions, as well as banking and payments solutions and consulting and transformation services. Its business solutions in Corporate and Other segment include Public Sector and Education, Global Commercial Services and Retail Check Processing.

FINANCIAL RATIOS  of  Fidelity National Information Services (FIS)

Valuation Ratios
P/E Ratio 60.5
Price to Sales 3.7
Price to Book 3.5
Price to Tangible Book
Price to Cash Flow 17.9
Price to Free Cash Flow 26.3
Growth Rates
Sales Growth Rate 40.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 48.4%
Cap. Spend. - 3 Yr. Gr. Rate 12.9%
Financial Strength
Quick Ratio 4
Current Ratio 0.3
LT Debt to Equity 104.2%
Total Debt to Equity 107.6%
Interest Coverage 4
Management Effectiveness
Return On Assets 3%
Ret/ On Assets - 3 Yr. Avg. 4.1%
Return On Total Capital 2.8%
Ret/ On T. Cap. - 3 Yr. Avg. 4.2%
Return On Equity 6%
Return On Equity - 3 Yr. Avg. 8.1%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 32.6%
Gross Margin - 3 Yr. Avg. 32.8%
EBITDA Margin 26.3%
EBITDA Margin - 3 Yr. Avg. 27.7%
Operating Margin 14%
Oper. Margin - 3 Yr. Avg. 16.8%
Pre-Tax Margin 9.8%
Pre-Tax Margin - 3 Yr. Avg. 14%
Net Profit Margin 6.1%
Net Profit Margin - 3 Yr. Avg. 8.8%
Effective Tax Rate 35%
Eff/ Tax Rate - 3 Yr. Avg. 34.5%
Payout Ratio 60%

FIS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FIS stock intrinsic value calculation we used $9123 million for the last fiscal year's total revenue generated by Fidelity National Information Services. The default revenue input number comes from 0001 income statement of Fidelity National Information Services. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FIS stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.9%, whose default value for FIS is calculated based on our internal credit rating of Fidelity National Information Services, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Fidelity National Information Services.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FIS stock the variable cost ratio is equal to 86%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FIS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Fidelity National Information Services.

Corporate tax rate of 27% is the nominal tax rate for Fidelity National Information Services. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FIS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FIS are equal to 115.8%.

Life of production assets of 14.7 years is the average useful life of capital assets used in Fidelity National Information Services operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FIS is equal to 0.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $10711 million for Fidelity National Information Services - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 328.821 million for Fidelity National Information Services is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Fidelity National Information Services at the current share price and the inputted number of shares is $34.5 billion.

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COMPANY NEWS

▶ FIS Tops Chartis RiskTech100® for Fourth Year in a Row   [Nov-09-18 04:00AM  Business Wire]
▶ Black Knight CEO speaks to startups   [Nov-02-18 08:30AM  American City Business Journals]
▶ FIS to Present at 2018 Stephens NY Investor Conference   [Nov-01-18 04:30PM  Business Wire]
▶ Fidelity National: 3Q Earnings Snapshot   [07:27AM  Associated Press]
▶ FIS Reports Third Quarter 2018 Results   [07:00AM  Business Wire]
▶ FIS Announces Quarterly Dividend   [Oct-25-18 04:30PM  Business Wire]
▶ Submissions Open for 2019 FIS Impact Awards   [Oct-01-18 11:00AM  Business Wire]
▶ FIS to Report Third Quarter Earnings on Oct. 30   [Sep-27-18 04:30PM  Business Wire]
▶ Fidelity first fund to offer no-fee index funds   [Aug-01-18 01:38PM  CNBC Videos]
▶ Fidelity National: 2Q Earnings Snapshot   [07:17AM  Associated Press]
▶ FIS Reports Second Quarter 2018 Results   [07:00AM  Business Wire]
▶ FIS Announces Quarterly Dividend   [Jul-26-18 04:30PM  Business Wire]
▶ FIS to Report Second Quarter Earnings on July 31   [Jul-05-18 04:30PM  Business Wire]
▶ OBJ's 2018 Best Places to Work are all about employee empowerment   [Jun-28-18 03:19PM  American City Business Journals]
▶ [$$] The 10 Highest-Paid Software and Services CEOs   [01:00AM  The Wall Street Journal]
▶ FIS Announces Pricing of Senior Notes Offering   [May-14-18 06:06PM  Business Wire]
▶ Why Boys Are Getting More Money Talk Than Girls   [May-07-18 02:18PM  Forbes]
▶ Fidelity National: 1Q Earnings Snapshot   [07:30AM  Associated Press]
▶ FIS Reports First Quarter 2018 Results   [07:00AM  Business Wire]
▶ FIS to Host Investor Conference on May 8   [04:30PM  Business Wire]
▶ FIS Announces Quarterly Dividend   [Apr-24-18 04:30PM  Business Wire]
▶ FIS to Report First Quarter Financial Results on May 1   [Apr-03-18 04:30PM  Business Wire]

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