Fidelity National Information Services (NYSE:FIS) Price Target Cut to $95.00 by Analysts at Royal Bank of Canada

Fidelity National Information Services (NYSE:FIS) had its price target lowered by Royal Bank of Canada from $104.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 30.49% from the company’s current price.

A number of other research firms also recently commented on FIS. Morgan Stanley dropped their price target on shares of Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on Fidelity National Information Services from $89.00 to $99.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. TD Cowen boosted their price objective on Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Susquehanna cut Fidelity National Information Services from a “positive” rating to a “neutral” rating and decreased their target price for the company from $103.00 to $81.00 in a research note on Wednesday. Finally, Stephens dropped their price target on shares of Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Fidelity National Information Services has a consensus rating of “Hold” and a consensus price target of $88.55.

Fidelity National Information Services Stock Performance

NYSE FIS traded down $0.36 on Wednesday, hitting $72.81. The stock had a trading volume of 3,993,279 shares, compared to its average volume of 2,963,508. The company’s 50-day moving average is $81.08 and its two-hundred day moving average is $82.94. Fidelity National Information Services has a one year low of $60.39 and a one year high of $91.98. The stock has a market cap of $39.19 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 0.63 and a beta of 1.04. 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 announced its earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating 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 company posted $0.94 EPS. On average, analysts expect that Fidelity National Information Services will post 5.18 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Fidelity National Information Services

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its position in shares of Fidelity National Information Services by 94.1% in the 3rd quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Fidelity National Information Services in the third quarter worth about $28,000. R Squared Ltd acquired a new stake in shares of Fidelity National Information Services during the fourth quarter worth about $30,000. Groupama Asset Managment grew its position in shares of Fidelity National Information Services by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 42,342 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 319 shares during the period. Finally, Concord Wealth Partners increased its stake in Fidelity National Information Services by 50.2% during the 3rd quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock worth $37,000 after purchasing an additional 146 shares in the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.

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.