Fidelity National Information Services (NYSE:FIS) PT Raised to $93.00 at Royal Bank of Canada

Fidelity National Information Services (NYSE:FISFree Report) had its price target increased by Royal Bank of Canada from $82.00 to $93.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

FIS has been the topic of several other research reports. Bank of America boosted their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Wedbush reissued an outperform rating and set a $75.00 target price on shares of Fidelity National Information Services in a report on Wednesday, May 8th. Evercore ISI boosted their target price on Fidelity National Information Services from $75.00 to $80.00 and gave the stock an in-line rating in a report on Tuesday, May 7th. Morgan Stanley upped their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. upped their price target on Fidelity National Information Services from $75.00 to $83.00 and gave the company an overweight rating in a report on Tuesday, May 28th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $79.32.

Check Out Our Latest Stock Report on FIS

Fidelity National Information Services Stock Performance

Shares of FIS stock opened at $76.12 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $74.02 and a two-hundred day moving average of $67.75. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $78.73. The company has a market cap of $42.34 billion, a P/E ratio of -7.44, a PEG ratio of 0.78 and a beta of 1.05.

Fidelity National Information Services (NYSE:FISGet Free Report) last issued its earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.91% and a negative net margin of 54.14%. Fidelity National Information Services’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. As a group, analysts anticipate that Fidelity National Information Services will post 4.96 EPS for the current year.

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

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.89%. Fidelity National Information Services’s payout ratio is presently -14.08%.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the acquisition, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FIS. Vanguard Group Inc. raised its position in shares of Fidelity National Information Services by 19.1% during the 1st quarter. Vanguard Group Inc. now owns 68,658,572 shares of the information technology services provider’s stock valued at $5,093,093,000 after acquiring an additional 11,023,109 shares during the last quarter. Norges Bank bought a new stake in shares of Fidelity National Information Services during the 4th quarter valued at $478,594,000. Lyrical Asset Management LP bought a new stake in shares of Fidelity National Information Services during the 4th quarter valued at $260,316,000. Boston Partners raised its position in shares of Fidelity National Information Services by 642.7% during the 1st quarter. Boston Partners now owns 4,470,605 shares of the information technology services provider’s stock valued at $331,047,000 after acquiring an additional 3,868,683 shares during the last quarter. Finally, JANA Partners Management LP bought a new stake in shares of Fidelity National Information Services during the 3rd quarter valued at $206,507,000. 96.23% of the stock is owned by institutional investors and hedge funds.

Fidelity National Information Services Company Profile

(Get Free Report)

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.

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