Fidelity National Information Services (NYSE:FIS) Given New $92.00 Price Target at Morgan Stanley

Fidelity National Information Services (NYSE:FIS) had its target price raised by Morgan Stanley from $87.00 to $92.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

FIS has been the topic of several other research reports. Stephens lifted their price objective on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Bank of America raised their price objective on Fidelity National Information Services from $90.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Compass Point began coverage on Fidelity National Information Services in a research note on Wednesday, November 20th. They issued a “buy” rating and a $126.00 price objective on the stock. Royal Bank of Canada increased their target price on Fidelity National Information Services from $95.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Susquehanna upped their price target on shares of Fidelity National Information Services from $88.00 to $103.00 and gave the company a “positive” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.75.

Fidelity National Information Services Stock Performance

Shares of FIS traded up $0.37 during mid-day trading on Wednesday, hitting $80.71. 171,230 shares of the company traded hands, compared to its average volume of 3,715,759. Fidelity National Information Services has a 1 year low of $58.24 and a 1 year high of $91.98. The stock has a 50-day moving average price of $87.08 and a two-hundred day moving average price of $81.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $43.45 billion, a price-to-earnings ratio of 32.16, a P/E/G ratio of 0.72 and a beta of 1.03.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Monday, November 4th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.11. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Fidelity National Information Services will post 5.18 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 1.78%. Fidelity National Information Services’s payout ratio is 57.37%.

Insider Activity

In related news, Director Jeffrey A. Goldstein acquired 626 shares of Fidelity National Information Services stock in a transaction that occurred on Tuesday, October 15th. The shares were purchased at an average cost of $88.25 per share, for a total transaction of $55,244.50. Following the acquisition, the director now owns 10,397 shares in the company, valued at approximately $917,535.25. This represents a 6.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lenore D. Williams sold 11,305 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $87.97, for a total value of $994,500.85. Following the transaction, the executive vice president now owns 32,199 shares in the company, valued at $2,832,546.03. This trade represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FIS. State Street Corp raised its holdings in shares of Fidelity National Information Services by 0.9% in the 3rd quarter. State Street Corp now owns 24,722,275 shares of the information technology services provider’s stock valued at $2,070,491,000 after purchasing an additional 211,787 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fidelity National Information Services by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,251,434 shares of the information technology services provider’s stock valued at $395,729,000 after purchasing an additional 249,678 shares during the period. Legal & General Group Plc grew its position in Fidelity National Information Services by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 4,938,091 shares of the information technology services provider’s stock valued at $372,135,000 after buying an additional 75,429 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fidelity National Information Services by 13.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,433,946 shares of the information technology services provider’s stock worth $371,343,000 after purchasing an additional 538,514 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Fidelity National Information Services by 449.8% during the 3rd quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock worth $343,693,000 after acquiring an additional 3,357,329 shares in the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

About Fidelity National Information Services

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.