1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
Like its peers, narrow-moat FIS reported first-quarter results that showed signs of recovery, although growth continues to be negatively affected by the pandemic. We expect this headwind to ease as the company moves through the year. We will maintain our $136 fair value estimate.
Fidelity National Information Services’ legacy operations provide core and payment processing services to banks, but its business has expanded over time. By acquiring Sungard in 2015, the company now provides record-keeping and other services to investment firms. With the acquisition of Worldpay in 2019, FIS now provides payment processing services for merchants and holds leading positions in the United States and United Kingdom. About a fourth of revenue is generated outside North America.
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