Fidelity National Information Services (NYSE:FIS) PT Raised to $62.00

Fidelity National Information Services (NYSE:FIS) had its price objective upped by Evercore ISI from $58.00 to $62.00 in a report issued on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the company an overweight rating in a report on Friday, February 23rd. UBS Group lifted their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Morgan Stanley lifted their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Mizuho lifted their price target on Fidelity National Information Services from $73.00 to $76.00 and gave the company a buy rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada lifted their price target on Fidelity National Information Services from $67.00 to $75.00 and gave the company an outperform rating in a report on Tuesday, February 27th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services presently has a consensus rating of Moderate Buy and an average target price of $70.73.

Fidelity National Information Services Stock Up 0.9 %

NYSE:FIS opened at $74.12 on Tuesday. 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 has a 50-day simple moving average of $65.69 and a 200 day simple moving average of $59.43. Fidelity National Information Services has a one year low of $46.91 and a one year high of $74.75. The company has a market capitalization of $42.73 billion, a price-to-earnings ratio of -6.59, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last issued its 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 positive return on equity of 13.06% and a negative net margin of 54.30%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business earned $1.71 EPS. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts predict that Fidelity National Information Services will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 annualized dividend and a yield of 1.94%. Fidelity National Information Services’s dividend payout ratio (DPR) is -12.81%.

Fidelity National Information Services declared that its board has initiated a stock buyback program on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Ellen R. Alemany purchased 735 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were purchased at an average price of $60.32 per share, for a total transaction of $44,335.20. Following the completion of the transaction, the director now owns 35,333 shares in the company, valued at approximately $2,131,286.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FIS. BlackRock Inc. grew its position in Fidelity National Information Services by 2.7% during the 2nd quarter. BlackRock Inc. now owns 60,473,174 shares of the information technology services provider’s stock worth $3,307,883,000 after purchasing an additional 1,575,081 shares in the last quarter. 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 worth $3,199,306,000 after purchasing an additional 6,503,451 shares in the last quarter. Dodge & Cox grew its position in Fidelity National Information Services by 2.6% during the 4th quarter. Dodge & Cox now owns 37,620,210 shares of the information technology services provider’s stock worth $2,259,846,000 after purchasing an additional 958,260 shares in the last quarter. State Street Corp grew its position in Fidelity National Information Services by 1.4% during the 1st quarter. State Street Corp now owns 26,456,658 shares of the information technology services provider’s stock worth $1,437,381,000 after purchasing an additional 367,417 shares in the last quarter. Finally, FIL Ltd grew its position in Fidelity National Information Services by 27.3% during the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after purchasing an additional 2,758,049 shares in the last quarter. Institutional investors and hedge funds 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.