Fidelity National Information Services (NASDAQ:III), Inc. (NYSE:FIS), a leading provider of financial services technology, has announced a change in its executive team. Effective Wednesday, the company appointed Alexandra Brooks as its new Executive Vice President and Chief Accounting Officer.
Ms. Brooks, 54, succeeds Christopher A. Thompson, who is transitioning to an advisory role until his retirement on June 1, 2025. Mr. Thompson, who played a pivotal role during the Worldpay separation, originally joined FIS through the acquisition of Worldpay in 2019. The Board and management expressed their gratitude for his significant contributions.
Prior to her appointment, Ms. Brooks served as the Executive Vice President and Chief Financial Officer of Hertz Global Holdings (OTC:HTZGQ), Inc. from July 2023 to June 2024, after holding the position of Senior Vice President and Chief Accounting Officer there. Her extensive career includes leadership roles at Aptiv (NYSE:APTV) PLC, Champion Windows and Home Exteriors, General Electric Company (NYSE:GE), and General Motors Company (NYSE:GM). She began her career at PricewaterhouseCoopers and is a Certified Public Accountant.
As part of her compensation arrangement, Ms. Brooks will receive an annual base salary of $500,000, with eligibility for performance-based cash incentive awards and long-term incentive awards under the company's 2022 Omnibus Incentive Plan. Additionally, she has been granted a one-time new hire equity award of $1,000,000 in restricted stock units, vesting over three years.
In other recent news, Fidelity National Information Services delivered strong financial performance in the third quarter, with a 4% increase in adjusted revenue and a significant 13% year-over-year rise in adjusted earnings per share (EPS) to $1.40. The company also reported an adjusted EBITDA margin of 41.3%. TD Cowen and Baird maintained Hold and Neutral ratings respectively on Fidelity National Information Services, but both firms increased their price targets following the company's Q3 results.
Fidelity National Information Services completed the acquisition of Dragonfly Technologies and formed strategic partnerships with EverBank and Commerce Bank. The company returned $700 million to shareholders through buybacks and dividends and reaffirmed its $4 billion share repurchase plan. It also raised its full-year revenue and EBITDA guidance, reflecting its confident outlook and expectations of continued segment growth.
InvestingPro Insights
As FIS welcomes Alexandra Brooks to its executive team, investors may find additional context in the company's financial performance and market position. According to InvestingPro data, FIS boasts a substantial market capitalization of $47.27 billion, reflecting its significant presence in the financial services technology sector. The company's revenue for the last twelve months as of Q3 2024 stood at $10.03 billion, with a modest growth of 1.91% over the same period.
InvestingPro Tips highlight that FIS has maintained dividend payments for 22 consecutive years, demonstrating a commitment to shareholder returns that aligns with the company's stable leadership approach. Additionally, the tip that management has been aggressively buying back shares suggests confidence in the company's future prospects, which could be seen as a positive signal alongside the new executive appointment.
The company's price-to-earnings ratio of 34.99 indicates that investors are willing to pay a premium for FIS shares, possibly due to its strong market position and growth potential. This is further supported by the InvestingPro Tip that 15 analysts have revised their earnings upwards for the upcoming period, potentially reflecting optimism about the company's direction under its evolving leadership team.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for FIS, providing a deeper understanding of the company's financial health and market performance.
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