Fidelity National Information Services (NYSE:FIS) Price Target Raised to $80.00 at Evercore ISI

Fidelity National Information Services (NYSE:FIS) had its price target increased by research analysts at Evercore ISI from $75.00 to $80.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s price target suggests a potential upside of 8.04% from the stock’s current price.

FIS has been the topic of a number of other reports. UBS Group upped their target price on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. 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 objective on the stock. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Royal Bank of Canada upped their price objective on Fidelity National Information Services from $75.00 to $82.00 and gave the company an “outperform” rating in a research note 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 research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.79.

Fidelity National Information Services Price Performance

FIS stock opened at $74.05 on Tuesday. The firm has a market cap of $41.58 billion, a P/E ratio of -6.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 1 year low of $46.91 and a 1 year high of $75.71. The stock has a 50-day simple moving average of $70.79 and a 200-day simple moving average of $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.

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 for the quarter, beating 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 prior year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction that occurred on 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 purchase, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Fidelity National Information Services by 79.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 125,574 shares of the information technology services provider’s stock valued at $6,941,000 after purchasing an additional 55,531 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Fidelity National Information Services by 1.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,489 shares of the information technology services provider’s stock valued at $1,740,000 after acquiring an additional 311 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Fidelity National Information Services by 24.8% in the 3rd quarter. Mackenzie Financial Corp now owns 81,737 shares of the information technology services provider’s stock worth $4,393,000 after purchasing an additional 16,266 shares during the period. Baystate Wealth Management LLC raised its position in Fidelity National Information Services by 332.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 372 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in Fidelity National Information Services by 4.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 124,981 shares of the information technology services provider’s stock valued at $6,908,000 after acquiring an additional 5,086 shares in the last quarter. Institutional investors and hedge funds 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.