FIS announces board changes and audit chair appointment

Fidelity National Information Services (NASDAQ:III), Inc. (NYSE:FIS), a global leader in financial services technology with a market capitalization of $37.57 billion, announced today that board member Lee Adrean has decided not to seek re-election at the upcoming 2025 annual meeting of shareholders. According to InvestingPro analysis, FIS currently trades below its Fair Value, maintaining a perfect Piotroski Score of 9. Adrean’s departure is not due to any disagreements with the company’s operations, policies, or practices.

Adrean has contributed significantly to FIS during his tenure, serving on the board and as Chair of the Audit Committee. Under the current leadership, FIS has maintained dividend payments for 23 consecutive years, demonstrating strong financial stewardship. Stephanie Ferris, CEO and President of FIS, expressed gratitude for Adrean’s dedication, stating that his guidance has been instrumental in the company’s evolution and success.

Following Adrean’s decision, the board has appointed Nicole Anasenes as the new Chair of the Audit Committee, effective immediately. Anasenes joined the board in October 2024 and possesses over two decades of financial expertise, including former CFO roles and audit committee memberships at other public companies.

Concurrent with these changes, the board has approved a reduction in its size from ten to nine directors, to take effect after the 2025 Shareholder Meeting. This streamlining aligns with the company’s governance practices and strategic direction.

The information reported is based on a press release statement and reflects a commitment to maintaining strong corporate governance and leadership within FIS as the company continues to grow and adapt in the dynamic financial services industry.

In other recent news, Fidelity National Information Services (FIS) unveiled an AI-driven tool, Treasury GPT, developed in partnership with Microsoft (NASDAQ:MSFT) to enhance its Treasury and Risk Manager platform. This tool aims to streamline administrative tasks for treasury professionals, allowing them to focus more on strategic planning. Additionally, FIS announced the migration of its Integrity platform to Microsoft Azure, which is expected to improve scalability and security.

In analyst updates, Mizuho (NYSE:MFG) Securities lowered its price target for FIS to $85 while maintaining an Outperform rating, citing a modest increase in Banking growth and a gradual start to 2025. Similarly, TD Cowen adjusted its price target to $81, keeping a Hold rating, as they see limited upside potential in the near term. RBC Capital Markets also revised its price target to $95 from $104, maintaining an Outperform rating, and noted that despite a slow start to 2025, the Capital Markets division remains a strong growth driver.

KeyBanc Capital Markets maintained a Sector Weight rating on FIS, highlighting mixed guidance for 2025. The company reported a 9% year-over-year increase in annual contract value sales, but its revenue and adjusted EBITDA guidance fell short of expectations. Despite these challenges, analysts from RBC Capital and KeyBanc see potential for growth in the latter half of the year.

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