Morgan Stanley Trims Fidelity National Information Services (NYSE:FIS) Target Price to $102.00

Fidelity National Information Services (NYSE:FISGet Rating) had its target price lowered by Morgan Stanley from $114.00 to $102.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

Several other brokerages also recently weighed in on FIS. Citigroup cut their price target on Fidelity National Information Services from $138.00 to $130.00 in a report on Monday, April 25th. Mizuho dropped their price objective on Fidelity National Information Services from $150.00 to $135.00 and set a buy rating on the stock in a report on Wednesday, February 23rd. Wells Fargo & Company started coverage on Fidelity National Information Services in a report on Monday, April 4th. They issued an overweight rating and a $132.00 price objective on the stock. Evercore ISI upgraded Fidelity National Information Services from an in-line rating to an outperform rating and increased their price objective for the company from $115.00 to $135.00 in a report on Monday, June 13th. Finally, Stephens started coverage on Fidelity National Information Services in a report on Wednesday, April 6th. They issued an overweight rating and a $125.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Fidelity National Information Services presently has an average rating of Moderate Buy and an average target price of $135.61.

Shares of NYSE FIS opened at $92.93 on Tuesday. The stock’s 50-day moving average is $99.18 and its two-hundred day moving average is $102.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.74. Fidelity National Information Services has a 1-year low of $85.00 and a 1-year high of $152.20. The company has a market cap of $56.76 billion, a price-to-earnings ratio of 62.79, a price-to-earnings-growth ratio of 0.94 and a beta of 0.69.

Fidelity National Information Services (NYSE:FISGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The information technology services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.01. Fidelity National Information Services had a return on equity of 8.76% and a net margin of 6.43%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the business earned $1.30 EPS. Fidelity National Information Services’s revenue was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Fidelity National Information Services will post 7.31 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.88 annualized dividend and a dividend yield of 2.02%. Fidelity National Information Services’s dividend payout ratio is currently 127.03%.

Several institutional investors and hedge funds have recently bought and sold shares of FIS. Norges Bank acquired a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $562,481,000. Steadfast Capital Management LP lifted its holdings in shares of Fidelity National Information Services by 11,686.3% in the 1st quarter. Steadfast Capital Management LP now owns 4,055,900 shares of the information technology services provider’s stock valued at $407,293,000 after buying an additional 4,021,488 shares during the period. Capital International Investors lifted its holdings in shares of Fidelity National Information Services by 12.3% in the 4th quarter. Capital International Investors now owns 34,213,281 shares of the information technology services provider’s stock valued at $3,734,671,000 after buying an additional 3,742,833 shares during the period. Boston Partners lifted its holdings in shares of Fidelity National Information Services by 80.1% in the 4th quarter. Boston Partners now owns 7,031,348 shares of the information technology services provider’s stock valued at $768,182,000 after buying an additional 3,127,602 shares during the period. Finally, Wellington Management Group LLP increased its stake in Fidelity National Information Services by 14.3% in the 1st quarter. Wellington Management Group LLP now owns 24,642,600 shares of the information technology services provider’s stock valued at $2,474,610,000 after purchasing an additional 3,075,338 shares in the last quarter. 89.51% of the stock is owned by institutional investors and hedge funds.

Fidelity National Information Services Company Profile (Get Rating)

Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.

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