Fidelity National Information Services (NYSE:FIS) Price Target Raised to $87.00

Fidelity National Information Services (NYSE:FIS) had its target price lifted by Morgan Stanley from $80.00 to $87.00 in a research note published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

A number of other research analysts have also issued reports on the stock. Oppenheimer initiated coverage on shares of Fidelity National Information Services in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Royal Bank of Canada increased their price target on Fidelity National Information Services from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America lifted their price objective on Fidelity National Information Services from $90.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Susquehanna increased their target price on Fidelity National Information Services from $88.00 to $103.00 and gave the stock a “positive” rating in a report on Tuesday. Finally, Jefferies Financial Group boosted their price target on Fidelity National Information Services from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Fidelity National Information Services Price Performance

Shares of NYSE FIS opened at $86.57 on Tuesday. The firm has a market cap of $47.23 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06. The business’s 50 day moving average is $85.75 and its 200-day moving average is $79.17. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.62. Fidelity National Information Services has a 1-year low of $49.91 and a 1-year high of $91.98.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, November 4th. The information technology services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.11. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS. Equities research analysts predict that Fidelity National Information Services will post 5.09 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 1.66%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 57.37%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 626 shares of the stock in a transaction on Tuesday, October 15th. The stock was acquired at an average price of $88.25 per share, with a total value of $55,244.50. Following the acquisition, the director now directly owns 10,397 shares in the company, valued at approximately $917,535.25. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Fidelity National Information Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Chase Investment Counsel Corp raised its holdings in Fidelity National Information Services by 52.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 65,790 shares of the information technology services provider’s stock valued at $5,509,000 after buying an additional 22,742 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Fidelity National Information Services by 6.2% during the third quarter. Victory Capital Management Inc. now owns 203,701 shares of the information technology services provider’s stock valued at $17,060,000 after acquiring an additional 11,933 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Fidelity National Information Services by 3.9% during the third quarter. Aptus Capital Advisors LLC now owns 3,679 shares of the information technology services provider’s stock valued at $308,000 after acquiring an additional 137 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Fidelity National Information Services during the third quarter worth $590,000. Finally, Harbour Investments Inc. grew its stake in shares of Fidelity National Information Services by 14.7% in the third quarter. Harbour Investments Inc. now owns 20,412 shares of the information technology services provider’s stock worth $1,710,000 after purchasing an additional 2,609 shares during the last quarter. 96.23% of the stock is currently 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.