From what I understand, the FDIC has recently issued a scathing examination report that had to be sent to all of FIS's bank clients. It is very rare for the FDIC to do this and shows the severity of IT security problems at FIS and management's inability to address. The lack of IT controls led to multi-million dollar frauds. The report was dated mid-March and referred to an examination (I believe) back to the Fall of 2011. In the meantime, the Chairman of the "Bored" has been dumping this stock just prior to the release of this letter. The SEC should investigate this. This will impact FIS revenue for those institutions in the process of selecting a new vendor or existing clients re-negotiating contracts.
No I didn't make it up. Someone that received a copy read me portions of it. That is why I said "from what I understand."
Perhaps yesterday news of all the management promotions except for one will make you want to look further into this. I think if you can get a copy of the report, you may see things differently.
The one that got demoted was Chairman Foley.Oh that's right....because he wanted to pursue other business interests. Meanwhile he was dumping the stock just before the FDIC released the letter. I think the FDIC report, his selling of the stock and his demotion adds up to some sort of negative impact on the company's future revenue. That's just my guess.