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

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

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Evercore ISI increased their target price on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock an in-line rating in a report on Tuesday, March 26th. Royal Bank of Canada increased their target price on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. UBS Group increased their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a neutral rating in a report on Tuesday, February 27th. Finally, Truist Financial increased their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a hold rating in a report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $71.59.

Fidelity National Information Services Stock Down 0.5 %

Shares of FIS stock opened at $70.00 on Tuesday. The firm has a fifty day moving average of $69.04 and a 200-day moving average of $61.18. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $74.75. The company has a market capitalization of $40.35 billion, a price-to-earnings ratio of -6.23, a P/E/G ratio of 0.89 and a beta of 0.97.

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 the consensus estimate of $2.52 billion. During the same period in the prior year, the company earned $1.71 EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that Fidelity National Information Services will post 4.66 earnings per share for the current fiscal year.

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

Fidelity National Information Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s payout ratio is presently -12.81%.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Several hedge funds have recently bought and sold shares of the company. Laurel Wealth Advisors Inc. increased its holdings in Fidelity National Information Services by 1.5% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,529 shares of the information technology services provider’s stock valued at $756,000 after buying an additional 111 shares during the period. EP Wealth Advisors LLC increased its holdings in Fidelity National Information Services by 3.8% in the 1st quarter. EP Wealth Advisors LLC now owns 3,098 shares of the information technology services provider’s stock valued at $311,000 after buying an additional 112 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Fidelity National Information Services by 83.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Penbrook Management LLC boosted its stake in shares of Fidelity National Information Services by 5.1% in the 1st quarter. Penbrook Management LLC now owns 4,124 shares of the information technology services provider’s stock valued at $306,000 after purchasing an additional 200 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Fidelity National Information Services by 9.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 203 shares in the last quarter. 96.23% of the stock is owned by institutional investors.

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.