Fidelity National Information Services (NYSE:FIS) PT Raised to $84.00

Fidelity National Information Services (NYSE:FIS) had its target price hoisted by Bank of America from $79.00 to $84.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Other research analysts have also issued reports about the company. UBS Group upped their price objective on Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Royal Bank of Canada lifted their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the stock an outperform rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. boosted their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an overweight rating in a report on Friday, February 23rd. Robert W. Baird cut shares of Fidelity National Information Services from an outperform rating to a neutral rating and raised their target price for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. Finally, BNP Paribas cut Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target for the company. in a research note on Thursday, April 11th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services presently has an average rating of Moderate Buy and an average price target of $71.59.

Fidelity National Information Services Stock Performance

NYSE FIS opened at $70.77 on Tuesday. Fidelity National Information Services has a 52-week low of $46.91 and a 52-week high of $74.75. The stock has a market cap of $40.80 billion, a PE ratio of -6.30, a P/E/G ratio of 0.89 and a beta of 0.97. The firm has a 50-day moving average of $69.22 and a 200-day moving average of $61.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business earned $1.71 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Fidelity National Information Services will post 4.66 EPS for the current year.

Fidelity National Information Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 2.03%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Fidelity National Information Services declared that its board has initiated a share buyback plan on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein purchased 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Fidelity National Information Services in the fourth quarter valued at about $478,594,000. Moneta Group Investment Advisors LLC acquired a new stake in Fidelity National Information Services during the 4th quarter worth approximately $449,526,000. Vanguard Group Inc. grew its holdings in Fidelity National Information Services by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock worth $3,199,306,000 after acquiring an additional 6,503,451 shares during the last quarter. Lyrical Asset Management LP acquired a new position in Fidelity National Information Services in the 4th quarter valued at approximately $260,316,000. Finally, JANA Partners Management LP bought a new position in shares of Fidelity National Information Services during the third quarter valued at $206,507,000. Institutional investors and hedge funds own 96.23% of the company’s stock.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.