Fidelity National Information Services (NYSE:FIS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Fidelity National Information Services (NYSE:FIS) had its price objective hoisted by equities research analysts at Morgan Stanley from $87.00 to $92.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 10.60% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of 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. Stephens lifted their target price on Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on shares of Fidelity National Information Services from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. BNP Paribas lowered shares of Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 20th. Finally, Bank of America raised their target price on Fidelity National Information Services from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Fidelity National Information Services has a consensus rating of “Moderate Buy” and an average target price of $91.75.

Fidelity National Information Services Stock Up 0.2 %

Shares of NYSE:FIS opened at $83.18 on Wednesday. The company has a market capitalization of $44.78 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 0.72 and a beta of 1.03. The company has a 50 day moving average of $87.21 and a two-hundred day moving average of $81.70. Fidelity National Information Services has a 52-week low of $58.24 and a 52-week high of $91.98. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63.

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

Insider Buying and Selling

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 626 shares of Fidelity National Information Services stock in a transaction dated Tuesday, October 15th. The stock was bought at an average cost of $88.25 per share, with a total value of $55,244.50. Following the completion of the transaction, the director now owns 10,397 shares of the company’s stock, valued at $917,535.25. The trade was a 6.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lenore D. Williams sold 11,305 shares of the business’s stock in a transaction 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 in the company, valued at $2,832,546.03. This trade represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Several hedge funds have recently made changes to their positions in FIS. The Manufacturers Life Insurance Company lifted its holdings in shares of Fidelity National Information Services by 982.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,895,432 shares of the information technology services provider’s stock worth $293,560,000 after acquiring an additional 3,535,596 shares during the period. Raymond James & Associates grew its holdings in shares of 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 worth $343,693,000 after purchasing an additional 3,357,329 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Fidelity National Information Services during the 2nd quarter valued at about $83,562,000. Zurich Insurance Group Ltd FI bought a new position in shares of Fidelity National Information Services in the second quarter valued at approximately $40,029,000. Finally, Fernbridge Capital Management LP grew its position in Fidelity National Information Services by 67.2% during the 2nd quarter. Fernbridge Capital Management LP now owns 1,153,134 shares of the information technology services provider’s stock worth $86,900,000 after acquiring an additional 463,613 shares during the last quarter. 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.