Keefe, Bruyette & Woods Raises Fidelity National Information Services (NYSE:FIS) Price Target to $85.00

Fidelity National Information Services (NYSE:FIS) had its target price raised by equities researchers at Keefe, Bruyette & Woods from $82.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 15.32% from the stock’s current price.

A number of other research firms have also weighed in on FIS. The Goldman Sachs Group began coverage on Fidelity National Information Services in a report on Thursday, February 29th. They set a “buy” rating and a $84.00 target price for the company. Bank of America lifted their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group increased their price target on shares of 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. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Finally, BNP Paribas cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Fidelity National Information Services presently has an average rating of “Moderate Buy” and a consensus price target of $78.11.

Fidelity National Information Services Price Performance

FIS opened at $73.71 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $70.93 and its 200-day simple moving average is $62.99. The company has a market capitalization of $41.39 billion, a price-to-earnings ratio of -7.21, a PEG ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $75.71.

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, topping 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 company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the business earned $1.29 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has approved a share 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the firm’s stock in a transaction 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 purchase, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Fidelity National Information Services

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Fidelity National Information Services by 12.7% in the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after acquiring an additional 6,503,451 shares during the period. FIL Ltd lifted its stake in shares of Fidelity National Information Services by 27.3% in the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock valued at $773,552,000 after purchasing an additional 2,758,049 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Fidelity National Information Services by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock worth $506,753,000 after buying an additional 121,154 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Fidelity National Information Services by 6.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock valued at $505,956,000 after buying an additional 537,180 shares during the period. Finally, Norges Bank purchased a new position in Fidelity National Information Services in the fourth quarter valued at $478,594,000. Hedge funds and other 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.