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

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

A number of other research analysts also recently weighed in on the company. Mizuho raised their price objective on Fidelity National Information Services from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial boosted their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, February 27th. BNP Paribas downgraded shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price target on shares of Fidelity National Information Services from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They set a “buy” rating and a $84.00 price target for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fidelity National Information Services has a consensus rating of “Moderate Buy” and an average target price of $78.11.

Fidelity National Information Services Trading Down 0.1 %

Shares of Fidelity National Information Services stock traded down $0.10 on Thursday, reaching $73.95. 981,793 shares of the company were exchanged, compared to its average volume of 4,440,941. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $75.71. The firm has a market capitalization of $41.52 billion, a price-to-earnings ratio of -7.24, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The stock has a fifty day moving average price of $70.79 and a 200-day moving average price of $62.91.

Fidelity National Information Services (NYSE:FIS) last issued its 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 company had revenue of $2.47 billion during 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 company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. On average, analysts expect that Fidelity National Information Services will post 4.71 EPS for the current year.

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

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average cost of $72.37 per share, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Several large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Fidelity National Information Services by 1.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,489 shares of the information technology services provider’s stock worth $1,740,000 after acquiring an additional 311 shares during the period. Mackenzie Financial Corp increased its position in Fidelity National Information Services by 24.8% during the 3rd quarter. Mackenzie Financial Corp now owns 81,737 shares of the information technology services provider’s stock worth $4,393,000 after buying an additional 16,266 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Fidelity National Information Services in the third quarter valued at about $402,000. TD Asset Management Inc increased its position in Fidelity National Information Services by 0.7% during the third quarter. TD Asset Management Inc now owns 241,174 shares of the information technology services provider’s stock worth $13,330,000 after acquiring an additional 1,721 shares during the period. Finally, TIAA Trust National Association bought a new stake in Fidelity National Information Services in the 3rd quarter valued at about $501,000. 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.