Analysts Set Fidelity National Information Services, Inc. (NYSE:FIS) Price Target at $71.59

Shares of Fidelity National Information Services, Inc. (NYSE:FIS) have received an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $71.69.

Several brokerages have weighed in on FIS. Mizuho upped their price objective on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group started coverage on Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 price objective on the stock. Robert W. Baird cut Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. UBS Group lifted their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, Evercore ISI increased their price objective on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th.

Insider Activity

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The shares were acquired at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Fidelity National Information Services

Hedge funds have recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in Fidelity National Information Services in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its holdings in shares of Fidelity National Information Services by 332.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 372 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Fidelity National Information Services in the 4th quarter valued at $29,000. Rise Advisors LLC acquired a new stake in Fidelity National Information Services during the 1st quarter worth $29,000. Finally, Delta Asset Management LLC TN lifted its holdings in Fidelity National Information Services by 600.0% during the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 450 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Information Services Price Performance

Fidelity National Information Services stock opened at $69.44 on Friday. The business has a 50 day simple moving average of $70.15 and a 200 day simple moving average of $62.14. Fidelity National Information Services has a one year low of $46.91 and a one year high of $74.75. The company has a market capitalization of $40.03 billion, a PE ratio of -6.18, a price-to-earnings-growth ratio of 0.88 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 (NYSE:FIS) last issued 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 analyst estimates 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 firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 EPS. On average, sell-side analysts forecast that Fidelity National Information Services will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be issued a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 annualized dividend and a yield of 2.07%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

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

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.