Robert W. Baird Raises Fidelity National Information Services (NYSE:FIS) Price Target to $82.00

Fidelity National Information Services (NYSE:FIS) had its price target raised by equities research analysts at Robert W. Baird from $78.00 to $82.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. Robert W. Baird’s price objective points to a potential upside of 14.85% from the company’s previous close.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective 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. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Bank of America upped their price objective on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Mizuho raised their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Truist Financial upped their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Fidelity National Information Services currently has an average rating of “Moderate Buy” and an average target price of $72.75.

Fidelity National Information Services Stock Up 1.0 %

FIS stock opened at $71.40 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $74.75. The stock has a market capitalization of $40.09 billion, a PE ratio of -6.35, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The firm has a 50 day moving average of $70.64 and a 200 day moving average of $62.74.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Fidelity National Information Services will post 4.71 earnings per share for the current year.

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

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein bought 775 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Fidelity National Information Services in the 3rd quarter valued at $25,000. Baystate Wealth Management LLC grew its holdings in shares of Fidelity National Information Services by 332.1% during the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after buying an additional 372 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Fidelity National Information Services in the fourth quarter valued at about $29,000. Rise Advisors LLC purchased a new position in shares of Fidelity National Information Services in the first quarter worth about $29,000. Finally, Delta Asset Management LLC TN boosted its position in Fidelity National Information Services by 600.0% during the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 450 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.