Fidelity National Information Services (NYSE:FIS) Price Target Raised to $84.00

Fidelity National Information Services (NYSE:FIS) had its price objective raised by Bank of America from $79.00 to $84.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

A number of other analysts also recently weighed in on FIS. Mizuho upped 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 research report on Wednesday, February 28th. TheStreet raised shares of Fidelity National Information Services from a d rating to a c rating in a research report on Monday, February 26th. UBS Group upped their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a neutral rating in a research report on Tuesday, February 27th. Truist Financial upped 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. Finally, BNP Paribas downgraded shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 target price on the stock. in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $71.59.

Fidelity National Information Services Stock Down 0.1 %

Shares of NYSE FIS opened at $70.65 on Tuesday. 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 12 month low of $46.91 and a 12 month high of $74.75. The firm has a market capitalization of $40.73 billion, a PE ratio of -6.29, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. The firm has a fifty day simple moving average of $68.70 and a two-hundred day simple moving average of $61.05.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate 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 company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company posted $1.71 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts expect that Fidelity National Information Services will post 4.66 earnings per share for the current year.

Fidelity National Information Services Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.04%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Fidelity National Information Services declared that its board has initiated a stock buyback plan on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Fidelity National Information Services

Several hedge funds and other institutional investors have recently bought and sold shares of FIS. Acadian Asset Management LLC lifted its stake in shares of Fidelity National Information Services by 491.5% in the 1st quarter. Acadian Asset Management LLC now owns 3,904 shares of the information technology services provider’s stock worth $391,000 after purchasing an additional 3,244 shares during the period. Synovus Financial Corp lifted its stake in shares of Fidelity National Information Services by 71.6% in the 1st quarter. Synovus Financial Corp now owns 9,791 shares of the information technology services provider’s stock worth $982,000 after purchasing an additional 4,085 shares during the period. Prudential PLC bought a new position in shares of Fidelity National Information Services in the 1st quarter worth approximately $1,173,000. Baird Financial Group Inc. lifted its stake in shares of Fidelity National Information Services by 8.2% in the 1st quarter. Baird Financial Group Inc. now owns 194,714 shares of the information technology services provider’s stock worth $19,553,000 after purchasing an additional 14,819 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Fidelity National Information Services by 83.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 130 shares during the period. 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.