Keefe, Bruyette & Woods Lowers Fidelity National Information Services (NYSE:FIS) to Market Perform

Keefe, Bruyette & Woods lowered shares of Fidelity National Information Services (NYSE:FISGet Rating) from an outperform rating to a market perform rating in a report published on Sunday morning, The Fly reports.

A number of other research firms have also recently issued reports on FIS. Evercore ISI upgraded shares of Fidelity National Information Services from an in-line rating to an outperform rating and lifted their target price for the company from $115.00 to $135.00 in a research note on Monday, June 13th. Morgan Stanley dropped their price objective on shares of Fidelity National Information Services from $102.00 to $100.00 and set an equal weight rating for the company in a research report on Thursday, June 30th. Susquehanna dropped their price objective on shares of Fidelity National Information Services from $176.00 to $160.00 and set a positive rating for the company in a research report on Tuesday, August 9th. Truist Financial dropped their price objective on shares of Fidelity National Information Services from $105.00 to $100.00 and set a hold rating for the company in a research report on Thursday, June 30th. Finally, Citigroup dropped their price objective on shares of Fidelity National Information Services to $128.00 in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $129.33.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $84.26 on Friday. Fidelity National Information Services has a 1 year low of $82.98 and a 1 year high of $126.20. The firm has a 50 day moving average of $95.77 and a 200-day moving average of $97.11. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $51.23 billion, a P/E ratio of 61.06, a price-to-earnings-growth ratio of 0.82 and a beta of 0.78.

Fidelity National Information Services (NYSE:FISGet Rating) last posted its earnings results on Thursday, August 4th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.01. Fidelity National Information Services had a net margin of 5.88% and a return on equity of 8.95%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. Fidelity National Information Services’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fidelity National Information Services will post 7.07 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.47 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.88 dividend on an annualized basis and a yield of 2.23%. Fidelity National Information Services’s dividend payout ratio (DPR) is currently 136.23%.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, EVP Lenore D. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the executive vice president now owns 21,334 shares in the company, valued at approximately $2,133,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Fidelity National Information Services news, EVP Lenore D. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the executive vice president now owns 21,334 shares in the company, valued at approximately $2,133,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Keith W. Hughes sold 5,337 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $100.28, for a total transaction of $535,194.36. Following the transaction, the director now owns 24,194 shares in the company, valued at approximately $2,426,174.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,240 shares of company stock worth $18,934,354. Insiders own 0.68% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Several large investors have recently made changes to their positions in FIS. Covestor Ltd acquired a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $35,000. Renaissance Technologies LLC acquired a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $26,408,000. Primecap Management Co. CA boosted its position in shares of Fidelity National Information Services by 39.9% during the 4th quarter. Primecap Management Co. CA now owns 1,122,650 shares of the information technology services provider’s stock worth $122,537,000 after acquiring an additional 320,350 shares in the last quarter. Fortis Capital Management LLC boosted its position in shares of Fidelity National Information Services by 7.7% during the 4th quarter. Fortis Capital Management LLC now owns 6,373 shares of the information technology services provider’s stock worth $696,000 after acquiring an additional 458 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its stake in Fidelity National Information Services by 38.3% in the 4th quarter. Gotham Asset Management LLC now owns 4,055 shares of the information technology services provider’s stock valued at $443,000 after purchasing an additional 1,123 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Fidelity National Information Services Company Profile

(Get Rating)

Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.

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