Fidelity National Information Services (NYSE:FIS) Price Target Raised to $75.00 at Evercore ISI

Fidelity National Information Services (NYSE:FIS) had its price target lifted by Evercore ISI from $62.00 to $75.00 in a research note released on Tuesday, Benzinga reports. They currently have an in-line rating on the information technology services provider’s stock.

A number of other equities analysts have also weighed in on FIS. Truist Financial lifted their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, February 27th. Robert W. Baird downgraded Fidelity National Information Services from an outperform rating to a neutral rating and boosted their price target for the company from $76.00 to $78.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. raised their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Bank of America boosted their target price on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an outperform rating in a report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $72.50.

Fidelity National Information Services Trading Up 1.9 %

Shares of NYSE:FIS opened at $70.72 on Tuesday. The business has a 50-day moving average price of $70.43 and a 200-day moving average price of $62.34. The stock has a market cap of $39.71 billion, a price-to-earnings ratio of -6.29, a PEG ratio of 0.85 and a beta of 0.98. Fidelity National Information Services has a 52-week low of $46.91 and a 52-week high of $74.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data 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 business had revenue of $2.51 billion for 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 business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. Equities analysts predict that Fidelity National Information Services will post 4.66 EPS for the current year.

Fidelity National Information Services declared that its board has authorized a stock buyback program on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase 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.

Fidelity National Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s payout ratio is -12.81%.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were acquired at an average cost of $72.37 per share, with a total value of $56,086.75. Following the purchase, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Fidelity National Information Services by 12.7% during the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock worth $3,199,306,000 after purchasing an additional 6,503,451 shares during the last quarter. FIL Ltd increased its holdings in shares of Fidelity National Information Services by 27.3% during the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after buying an additional 2,758,049 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Fidelity National Information Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock valued at $506,753,000 after buying an additional 121,154 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Fidelity National Information Services by 6.8% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock valued at $505,956,000 after acquiring an additional 537,180 shares during the last quarter. Finally, Norges Bank purchased a new position in Fidelity National Information Services in the fourth quarter worth approximately $478,594,000. Hedge funds and other 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.