Why the Integrity Viking Funds Deal Is a Win for Fidelity National

Fidelity National Information Services, Inc. FIS scored a new business win as Integrity Viking Funds chose the FIS Investment Accounting Manager platform to modernize its investment accounting systems. By winning business from a fund like Integrity Viking, FIS shows that its technology can appeal not only to large institutions but to smaller firms seeking enterprise-grade accounting tools without huge cost or complexity.

Integrity Viking Funds manages different types of investments, including fixed income and alternative assets. Previously, the company was using older systems that made work slower and required more manual effort. By switching to FIS’s cloud-based platform, the firm will be able to automate more tasks, get real-time and accurate data, and create detailed reports more easily.

The new system should help reduce manual work, improve efficiency and remove operational delays. It allows easy integration with other platforms as the company grows or changes its investment strategies.

For FIS, securing Integrity Viking Funds as a client strengthens its appeal and competitive position in the financial technology market. It highlights the growing demand for its cloud-based investment accounting platform and supports a shift toward recurring, subscription-based revenues, which will help build more stable and predictable long-term profits.

FIS’ Price Performance

Over the past year, FIS shares have declined 28.8% compared with the industry, which fell 19.1% during the same period.

FIS’s Zacks Rank & Key Picks

FIS stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Business Services space are Concentrix Corporation CNXC, Dave Inc. DAVE and UL Solutions Inc. ULS. Each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

The Zacks Consensus Estimate for Concentrix's current-quarter earnings is pegged at $2.64 per share, which has remained unchanged over the past 30 days. The consensus estimate for current-year revenues is pinned at $2.5 billion, indicating 4.9% year-over-year growth.

The Zacks Consensus Estimate for Dave’s current-quarter earnings is pinned at $2.72 per share, which has remained unchanged over the past seven days. DAVE beat earnings estimates in each of the trailing four quarters, with an average surprise of 54.2%. The consensus estimate for current-year revenues is pegged at $128.2 million, suggesting 18.7% year-over-year growth.

The Zacks Consensus Estimate for UL Solutions' current-quarter earnings is pegged at 42 cents per share, implying a 13.5% increase from the year-ago reported figure. The consensus mark for current-quarter revenues is pinned at $746.9 million, indicating 5.9% year-over-year growth. ULS beat earnings estimates in each of the trailing four quarters, delivering an average surprise of 15.2%.

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This article originally published on Zacks Investment Research (zacks.com).

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