Fidelity National Information Services, Inc. (NYSE:FIS) Receives $71.59 Average Target Price from Analysts

Shares of Fidelity National Information Services, Inc. (NYSE:FIS) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities 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 price target among analysts that have covered the stock in the last year is $72.50.

A number of brokerages have recently commented on FIS. Mizuho upped their price target on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Evercore ISI upped their price target on Fidelity National Information Services from $62.00 to $75.00 and gave the company an “in-line” rating in a research report on Tuesday. Bank of America increased their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada upped their price target on Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, UBS Group increased their target price on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th.

Fidelity National Information Services Trading Down 1.1 %

NYSE:FIS opened at $67.20 on Friday. The stock has a market cap of $37.73 billion, a PE ratio of -5.98, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The stock’s 50-day moving average is $70.32 and its two-hundred day moving average is $62.29. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $74.75. 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 posted its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm posted $1.71 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that Fidelity National Information Services will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its Board of Directors has approved a stock buyback program 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.14%. Fidelity National Information Services’s dividend payout ratio is -12.81%.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the company’s stock in a transaction on Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in Fidelity National Information Services during the 1st quarter worth $29,000. EdgeRock Capital LLC purchased a new stake in shares of Fidelity National Information Services in the fourth quarter worth approximately $29,000. OFI Invest Asset Management purchased a new stake in shares of Fidelity National Information Services in the third quarter worth approximately $25,000. Baystate Wealth Management LLC grew 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 acquiring an additional 372 shares in the last quarter. Finally, Delta Asset Management LLC TN grew its holdings in shares of Fidelity National Information Services by 600.0% in the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 450 shares in the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.

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.