Fidelity National Information Services (NYSE:FIS) PT Raised to $62.00

Fidelity National Information Services (NYSE:FIS) had its target price upped by Evercore ISI from $58.00 to $62.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s price objective indicates a potential downside of 15.59% from the company’s current price.

Several other research firms have also weighed in on FIS. Mizuho increased their price target on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Robert W. Baird lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their price target for the company from $76.00 to $78.00 in a research report on Wednesday, March 13th. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. UBS Group increased their price target on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Fidelity National Information Services presently has an average rating of “Moderate Buy” and an average target price of $70.73.

Fidelity National Information Services Stock Performance

Shares of FIS stock opened at $73.45 on Tuesday. The firm has a 50-day moving average of $65.42 and a 200-day moving average of $59.33. The company has a market cap of $42.34 billion, a P/E ratio of -6.53, a P/E/G ratio of 0.90 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services has a one year low of $46.91 and a one year high of $73.58.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.71 EPS. Equities research analysts forecast that Fidelity National Information Services will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has initiated a share repurchase program on Monday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Fidelity National Information Services

In other news, Director Ellen R. Alemany purchased 735 shares of the stock in a transaction dated Wednesday, January 17th. The shares were purchased at an average cost of $60.32 per share, with a total value of $44,335.20. Following the completion of the acquisition, the director now owns 35,333 shares in the company, valued at approximately $2,131,286.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

A number of institutional investors and hedge funds have recently bought and sold shares of FIS. OFI Invest Asset Management purchased a new stake in Fidelity National Information Services in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC raised its stake in Fidelity National Information Services by 332.1% in the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 372 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in Fidelity National Information Services in the fourth quarter valued at approximately $29,000. Brown Brothers Harriman & Co. raised its stake in Fidelity National Information Services by 83.3% in the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Finally, McCarthy Grittinger Financial Group LLC raised its stake in Fidelity National Information Services by 101.1% in the third quarter. McCarthy Grittinger Financial Group LLC now owns 573 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

About Fidelity National Information Services

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.