Barclays Boosts Fidelity National Information Services (NYSE:FIS) Price Target to $85.00

Fidelity National Information Services (NYSE:FIS) had its price objective upped by equities researchers at Barclays from $83.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price target suggests a potential upside of 14.94% from the company’s current price.

A number of other equities research analysts have also commented on the company. Morgan Stanley increased their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Mizuho raised their price target on shares of Fidelity National Information Services from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird upped their price objective on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group lifted their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Finally, Truist Financial boosted their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.11.

Fidelity National Information Services Stock Down 0.1 %

Shares of Fidelity National Information Services stock traded down $0.10 during trading hours on Thursday, reaching $73.95. The company’s stock had a trading volume of 981,793 shares, compared to its average volume of 4,440,941. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s fifty day simple moving average is $70.79 and its two-hundred day simple moving average is $62.91. The company has a market capitalization of $41.52 billion, a P/E ratio of -7.24, a P/E/G ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a one year low of $46.91 and a one year high of $75.71.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. On average, research analysts forecast that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIS. Norges Bank purchased a new stake in shares of Fidelity National Information Services in the fourth quarter worth $478,594,000. Vanguard Group Inc. grew its position in Fidelity National Information Services by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after purchasing an additional 6,503,451 shares during the last quarter. Lyrical Asset Management LP bought a new stake in Fidelity National Information Services during the 4th quarter valued at about $260,316,000. JANA Partners Management LP bought a new position in shares of Fidelity National Information Services in the third quarter worth approximately $206,507,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Fidelity National Information Services by 660.0% during the third quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider’s stock valued at $183,944,000 after buying an additional 2,890,185 shares during the last quarter. 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.