Keefe, Bruyette & Woods Boosts Fidelity National Information Services (NYSE:FIS) Price Target to $85.00

Fidelity National Information Services (NYSE:FIS) had its price target hoisted by analysts at Keefe, Bruyette & Woods from $82.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 15.41% from the stock’s previous close.

FIS has been the subject of several other research reports. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 price target for the company. Truist Financial lifted their target price 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. BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Thursday, April 11th. Evercore ISI increased their price objective on shares of Fidelity National Information Services from $75.00 to $80.00 and gave the stock an “in-line” rating in a research report on Tuesday. Finally, Susquehanna lifted their price objective on shares of Fidelity National Information Services from $81.00 to $86.00 and gave the company a “positive” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.83.

Fidelity National Information Services Stock Down 0.9 %

Fidelity National Information Services stock traded down $0.66 during trading hours on Wednesday, hitting $73.65. 667,005 shares of the stock traded hands, compared to its average volume of 4,425,273. Fidelity National Information Services has a one year low of $46.91 and a one year high of $75.71. The company has a market cap of $41.36 billion, a PE ratio of -6.58, a PEG ratio of 0.88 and a beta of 0.98. The firm’s 50-day moving average price is $70.79 and its two-hundred day moving average price is $62.91. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. 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 $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Fidelity National Information Services will post 4.71 EPS for the current year.

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

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein bought 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the acquisition, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FIS. Manchester Capital Management LLC increased its stake in Fidelity National Information Services by 6.8% in the first quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock valued at $166,000 after purchasing an additional 143 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Fidelity National Information Services by 14.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock worth $79,000 after acquiring an additional 166 shares in the last quarter. CKW Financial Group lifted its position in Fidelity National Information Services by 10.5% in the first quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock valued at $153,000 after acquiring an additional 200 shares during the last quarter. Penbrook Management LLC boosted its stake in Fidelity National Information Services by 5.1% in the first quarter. Penbrook Management LLC now owns 4,124 shares of the information technology services provider’s stock valued at $306,000 after acquiring an additional 200 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Fidelity National Information Services by 9.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors 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.