Fidelity National Information Services (NYSE:FIS) Hits New 52-Week Low on Analyst Downgrade

Fidelity National Information Services, Inc. (NYSE:FISGet Rating) reached a new 52-week low on Thursday after Royal Bank of Canada lowered their price target on the stock from $141.00 to $114.00. Royal Bank of Canada currently has an outperform rating on the stock. Fidelity National Information Services traded as low as $79.57 and last traded at $79.70, with a volume of 24971 shares. The stock had previously closed at $80.45.

Several other brokerages have also recently weighed in on FIS. Evercore ISI raised shares of Fidelity National Information Services from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $115.00 to $135.00 in a research note on Monday, June 13th. Susquehanna Bancshares dropped their target price on shares of Fidelity National Information Services from $176.00 to $160.00 and set a “positive” rating on the stock in a report on Tuesday, August 9th. Keefe, Bruyette & Woods lowered shares of Fidelity National Information Services from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $120.00 to $98.00 in a report on Sunday, September 18th. Wells Fargo & Company lowered shares of Fidelity National Information Services from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $96.00 to $88.00 in a report on Thursday, September 8th. Finally, Citigroup dropped their target price on shares of Fidelity National Information Services to $128.00 in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.82.

Insider Transactions at Fidelity National Information Services

In other news, EVP Lenore D. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the executive vice president now directly owns 21,334 shares of the company’s stock, valued at $2,133,400. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Lenore D. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the executive vice president now directly owns 21,334 shares of the company’s stock, valued at $2,133,400. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Keith W. Hughes sold 5,337 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $100.28, for a total value of $535,194.36. Following the completion of the transaction, the director now directly owns 24,194 shares of the company’s stock, valued at $2,426,174.32. The disclosure for this sale can be found here. Insiders sold a total of 207,240 shares of company stock valued at $18,934,354 over the last ninety days. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Fidelity National Information Services by 33.8% in the second quarter. Federated Hermes Inc. now owns 480,215 shares of the information technology services provider’s stock valued at $44,022,000 after acquiring an additional 121,376 shares in the last quarter. Private Trust Co. NA bought a new position in Fidelity National Information Services during the second quarter valued at $96,000. Royal London Asset Management Ltd. grew its holdings in Fidelity National Information Services by 1.1% during the second quarter. Royal London Asset Management Ltd. now owns 216,973 shares of the information technology services provider’s stock valued at $19,898,000 after purchasing an additional 2,342 shares during the period. Verition Fund Management LLC grew its holdings in Fidelity National Information Services by 221.0% during the second quarter. Verition Fund Management LLC now owns 10,184 shares of the information technology services provider’s stock valued at $933,000 after purchasing an additional 18,600 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in Fidelity National Information Services by 169.5% during the second quarter. Raleigh Capital Management Inc. now owns 1,291 shares of the information technology services provider’s stock valued at $125,000 after purchasing an additional 812 shares during the period. 90.39% of the stock is owned by institutional investors.

Fidelity National Information Services Trading Up 0.1 %

The firm has a fifty day simple moving average of $94.80 and a two-hundred day simple moving average of $96.81. The firm has a market capitalization of $48.95 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.69.

Fidelity National Information Services (NYSE:FISGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. Fidelity National Information Services had a return on equity of 8.95% and a net margin of 5.88%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the company earned $1.61 earnings per share. Fidelity National Information Services’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Fidelity National Information Services, Inc. will post 7.07 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, September 15th. Fidelity National Information Services’s payout ratio is currently 136.23%.

About Fidelity National Information Services

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Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.

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