Evercore ISI Raises Fidelity National Information Services (NYSE:FIS) Price Target to $75.00

Fidelity National Information Services (NYSE:FIS) had its price target hoisted by research analysts at Evercore ISI from $62.00 to $75.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s price objective points to a potential upside of 8.98% from the company’s previous close.

FIS has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted 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 research note on Friday, February 23rd. Morgan Stanley increased their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial upped their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. UBS Group boosted their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada increased 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. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Fidelity National Information Services Trading Down 0.9 %

Shares of FIS stock traded down $0.62 during trading hours on Tuesday, hitting $68.82. 334,362 shares of the company were exchanged, compared to its average volume of 4,364,569. The firm has a fifty day moving average of $70.15 and a 200 day moving average of $62.14. 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 1 year low of $46.91 and a 1 year high of $74.75. The firm has a market cap of $39.67 billion, a PE ratio of -6.15, a PEG ratio of 0.88 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.52 billion. During the same period in the prior year, the business earned $1.71 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Analysts expect that Fidelity National Information Services will post 4.66 earnings per share for the current year.

Fidelity National Information Services declared that its Board of Directors has approved a share buyback plan on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fidelity National Information Services

A number of large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. raised its holdings in Fidelity National Information Services by 14.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock worth $79,000 after acquiring an additional 166 shares during the period. CKW Financial Group lifted its position in shares of Fidelity National Information Services by 10.5% during the 1st quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock worth $153,000 after purchasing an additional 200 shares during the last quarter. Penbrook Management LLC boosted its stake in Fidelity National Information Services by 5.1% during 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 during the period. Parkside Financial Bank & Trust grew its holdings in 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 buying an additional 203 shares during the last quarter. Finally, Allworth Financial LP increased its position in Fidelity National Information Services by 14.4% in the 3rd quarter. Allworth Financial LP now owns 1,637 shares of the information technology services provider’s stock worth $90,000 after buying an additional 206 shares during the period. Institutional investors 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.