Wedbush Increases Fidelity National Information Servcs (FIS) Price Target to $140.00

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Fidelity National Information Servcs (NYSE:FIS) had its price target increased by Wedbush from $110.00 to $140.00 in a report published on Friday, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the information technology services provider’s stock.

Several other brokerages have also issued reports on FIS. Guggenheim raised their price target on shares of Fidelity National Information Servcs to $135.00 and gave the stock a buy rating in a research note on Friday. Zacks Investment Research lowered shares of Fidelity National Information Servcs from a hold rating to a sell rating in a research note on Tuesday, February 5th. SunTrust Banks lowered shares of Fidelity National Information Servcs from a buy rating to a hold rating and set a $106.54 price target for the company. in a research note on Tuesday, March 19th. William Blair restated an outperform rating on shares of Fidelity National Information Servcs in a research note on Tuesday, February 12th. Finally, Goldman Sachs Group upgraded shares of Fidelity National Information Servcs from a neutral rating to a buy rating and raised their price target for the stock from $108.00 to $128.00 in a research note on Tuesday, December 11th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Fidelity National Information Servcs presently has a consensus rating of Buy and an average price target of $121.96.

Shares of FIS stock opened at $108.42 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.85. Fidelity National Information Servcs has a 12-month low of $93.71 and a 12-month high of $112.17. The company has a market cap of $35.65 billion, a PE ratio of 20.73, a P/E/G ratio of 1.24 and a beta of 0.74.

Fidelity National Information Servcs (NYSE:FIS) last issued its quarterly earnings results on Tuesday, February 12th. The information technology services provider reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.02. Fidelity National Information Servcs had a net margin of 10.06% and a return on equity of 16.71%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business posted $1.36 EPS. Fidelity National Information Servcs’s quarterly revenue was down 7.0% compared to the same quarter last year. Equities analysts forecast that Fidelity National Information Servcs will post 7.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Fidelity National Information Servcs’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 14th. Fidelity National Information Servcs’s payout ratio is currently 26.77%.

In other Fidelity National Information Servcs news, Director Brian T. Shea acquired 290 shares of Fidelity National Information Servcs stock in a transaction that occurred on Saturday, October 12th. The stock was acquired at an average cost of $101.43 per share, for a total transaction of $29,414.70. Following the purchase, the director now owns 3,210 shares of the company’s stock, valued at $325,590.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marc M. Mayo sold 34,826 shares of Fidelity National Information Servcs stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $105.00, for a total transaction of $3,656,730.00. Following the completion of the transaction, the executive vice president now owns 24,594 shares of the company’s stock, valued at $2,582,370. The disclosure for this sale can be found here. Insiders sold a total of 282,842 shares of company stock valued at $30,621,347 over the last quarter. 2.08% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Fidelity National Information Servcs by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 24,821,437 shares of the information technology services provider’s stock valued at $2,707,274,000 after purchasing an additional 261,868 shares during the period. Vanguard Group Inc boosted its holdings in Fidelity National Information Servcs by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 24,821,437 shares of the information technology services provider’s stock valued at $2,707,274,000 after purchasing an additional 261,868 shares during the period. Lunia Capital LP bought a new position in Fidelity National Information Servcs in the 4th quarter valued at $20,720,000. Morgan Stanley boosted its holdings in Fidelity National Information Servcs by 6.8% in the 3rd quarter. Morgan Stanley now owns 5,320,322 shares of the information technology services provider’s stock valued at $580,287,000 after purchasing an additional 339,407 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Fidelity National Information Servcs by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 4,520,153 shares of the information technology services provider’s stock valued at $462,775,000 after purchasing an additional 347,672 shares during the period. Institutional investors and hedge funds own 90.21% of the company’s stock.

Fidelity National Information Servcs Company Profile

Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.

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Analyst Recommendations for Fidelity National Information Servcs (NYSE:FIS)

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