Royal Bank of Canada Increases Fidelity National Information Services (NYSE:FIS) Price Target to $82.00

Fidelity National Information Services (NYSE:FIS) had its price objective raised by investment analysts at Royal Bank of Canada from $75.00 to $82.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 10.74% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Truist Financial raised their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Bank of America lifted their price target on shares of 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. Robert W. Baird raised their price objective on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday. Stephens reiterated an “overweight” rating and set a $90.00 price objective on shares of Fidelity National Information Services in a report on Tuesday. Finally, BNP Paribas lowered 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 report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $74.05 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a twelve month low of $46.91 and a twelve month high of $75.71. The company has a fifty day moving average of $70.79 and a 200-day moving average of $62.91. The firm has a market capitalization of $41.58 billion, a P/E ratio of -6.59, a P/E/G ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly 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. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $1.29 earnings per share. As a group, sell-side analysts anticipate that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services announced that its Board of Directors has initiated a stock buyback plan on Monday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other 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 bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FIS. Manchester Capital Management LLC lifted its position in shares of Fidelity National Information Services by 6.8% during the first quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock worth $166,000 after acquiring an additional 143 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Fidelity National Information Services by 14.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock worth $79,000 after purchasing an additional 166 shares in the last quarter. CKW Financial Group boosted its stake in Fidelity National Information Services by 10.5% in the 1st quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock worth $153,000 after purchasing an additional 200 shares during the period. Penbrook Management LLC grew its holdings in Fidelity National Information Services by 5.1% during the 1st quarter. Penbrook Management LLC now owns 4,124 shares of the information technology services provider’s stock valued at $306,000 after buying an additional 200 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Fidelity National Information Services by 9.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 203 shares during the period. 96.23% of the stock is owned by institutional investors.

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.