Bank of America Raises Fidelity National Information Services (NYSE:FIS) Price Target to $84.00

Fidelity National Information Services (NYSE:FIS) had its price target raised by research analysts at Bank of America from $79.00 to $84.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Bank of America‘s price target suggests a potential upside of 18.78% from the company’s previous close.

Several other research firms have also recently weighed in on FIS. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price for the company. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Mizuho increased their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Truist Financial increased their target price on shares of 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. Finally, Robert W. Baird cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $78.00 in a research note on Wednesday, March 13th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.59.

Fidelity National Information Services Trading Down 0.3 %

Fidelity National Information Services stock opened at $70.72 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $40.77 billion, a price-to-earnings ratio of -6.29, a PEG ratio of 0.90 and a beta of 0.97. Fidelity National Information Services has a one year low of $46.91 and a one year high of $74.75. The company’s fifty day moving average price is $68.52 and its two-hundred day moving average price is $60.94.

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

Fidelity National Information Services announced that its board has authorized a stock buyback program on Monday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically 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 acquired 735 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was bought at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Fidelity National Information Services

A number of hedge funds and other institutional investors have recently modified their holdings of FIS. OFI Invest Asset Management acquired a new stake in shares of Fidelity National Information Services in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC increased its holdings in shares of 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 acquired a new stake in shares of Fidelity National Information Services in the fourth quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in shares of Fidelity National Information Services in the first quarter valued at approximately $29,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of 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. Institutional investors and hedge funds own 96.23% of the company’s stock.

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.