Wells Fargo & Company Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $80.00

Fidelity National Information Services (NYSE:FIS) had its target price reduced by analysts at Wells Fargo & Company from $88.00 to $80.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 9.57% from the stock’s current price.

Several other brokerages also recently commented on FIS. UBS Group boosted their target price on Fidelity National Information Services from $80.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Stephens reduced their price target on Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley reduced their price target on Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Fidelity National Information Services from $89.00 to $99.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Mizuho boosted their price target on Fidelity National Information Services from $91.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $88.95.

Fidelity National Information Services Price Performance

FIS stock traded down $0.15 during midday trading on Wednesday, reaching $73.01. The company had a trading volume of 2,980,217 shares, compared to its average volume of 2,903,385. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $39.30 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04. Fidelity National Information Services has a 1-year low of $60.39 and a 1-year high of $91.98. The stock has a 50 day moving average price of $81.08 and a 200-day moving average price of $82.94.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 15.35% and a net margin of 14.37%. During the same quarter in the prior year, the business earned $0.94 earnings per share. Equities research analysts expect that Fidelity National Information Services will post 5.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Lenore D. Williams sold 11,305 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $87.97, for a total transaction of $994,500.85. Following the transaction, the executive vice president now directly owns 32,199 shares of the company’s stock, valued at $2,832,546.03. This represents a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey A. Goldstein bought 701 shares of the stock in a transaction dated Wednesday, January 15th. The shares were purchased at an average cost of $79.97 per share, for a total transaction of $56,058.97. Following the completion of the transaction, the director now directly owns 11,098 shares of the company’s stock, valued at $887,507.06. This trade represents a 6.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of institutional investors have recently modified their holdings of FIS. Norges Bank acquired a new position in shares of Fidelity National Information Services during the fourth quarter worth approximately $635,202,000. Raymond James Financial Inc. purchased a new stake in Fidelity National Information Services in the 4th quarter valued at $451,458,000. Raymond James & Associates raised its position in Fidelity National Information Services by 449.8% in the 3rd quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock valued at $343,693,000 after buying an additional 3,357,329 shares during the last quarter. KBC Group NV raised its position in Fidelity National Information Services by 1,390.5% in the 4th quarter. KBC Group NV now owns 1,180,258 shares of the information technology services provider’s stock valued at $95,330,000 after buying an additional 1,101,072 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Fidelity National Information Services by 1,304.8% in the 4th quarter. Nordea Investment Management AB now owns 605,237 shares of the information technology services provider’s stock valued at $48,927,000 after buying an additional 562,154 shares during the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.

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.