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

Fidelity National Information Services (NYSE:FIS) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $82.00 to $85.00 in a report released on Wednesday, Benzinga reports. The firm presently 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 company’s current price.

A number of other equities analysts have also recently issued reports on the company. Truist Financial increased their price target on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a report on Thursday, February 29th. They set a “buy” rating and a $84.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of Fidelity National Information Services in a research report on Tuesday. Finally, Bank of America upped their price target on Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.83.

Fidelity National Information Services Stock Performance

FIS traded down $0.66 on Wednesday, reaching $73.65. The company had a trading volume of 667,005 shares, compared to its average volume of 4,425,273. The company’s fifty day moving average is $70.79 and its 200 day moving average is $62.91. 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 market cap of $41.36 billion, a P/E ratio of -6.58, a P/E/G ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $75.71.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 EPS. As a group, analysts predict that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its board has initiated a stock repurchase plan 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein purchased 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, with a total value of $56,086.75. Following the transaction, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FIS. OFI Invest Asset Management purchased a new stake in shares of Fidelity National Information Services during the 3rd quarter valued at $25,000. EdgeRock Capital LLC purchased a new position in shares of Fidelity National Information Services in the 4th quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in Fidelity National Information Services in the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN grew its holdings in shares of 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 valued at $32,000 after buying an additional 450 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new position in shares of Fidelity National Information Services in the fourth quarter worth about $35,000. Hedge funds and other 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.