Fidelity National Information Services (NYSE:FIS) Reaches New 1-Year High on Analyst Upgrade

Fidelity National Information Services, Inc. (NYSE:FIS) shares reached a new 52-week high on Wednesday after Evercore ISI raised their price target on the stock from $58.00 to $62.00. Evercore ISI currently has an in-line rating on the stock. Fidelity National Information Services traded as high as $73.39 and last traded at $72.65, with a volume of 595940 shares traded. The stock had previously closed at $72.30.

A number of other equities research analysts have also recently commented on the company. The Goldman Sachs Group started coverage on Fidelity National Information Services in a report on Thursday, February 29th. They set a “buy” rating and a $84.00 target price on the stock. UBS Group raised their price objective on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Royal Bank of Canada raised their price objective on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Truist Financial raised their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Finally, Robert W. Baird cut Fidelity National Information Services from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Ellen R. Alemany purchased 735 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were bought at an average price of $60.32 per share, with a total value of $44,335.20. Following the completion of the acquisition, the director now owns 35,333 shares in the company, valued at approximately $2,131,286.56. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Fidelity National Information Services during the third quarter worth approximately $25,000. Baystate Wealth Management LLC grew its holdings in shares of Fidelity National Information Services by 332.1% during the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 372 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Fidelity National Information Services during the 4th quarter valued at $29,000. Brown Brothers Harriman & Co. grew its holdings in shares of Fidelity National Information Services by 83.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Finally, McCarthy Grittinger Financial Group LLC increased its position in Fidelity National Information Services by 101.1% during the third quarter. McCarthy Grittinger Financial Group LLC now owns 573 shares of the information technology services provider’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $42.73 billion, a price-to-earnings ratio of -6.59, a P/E/G ratio of 0.91 and a beta of 0.97. The company’s 50-day simple moving average is $65.69 and its 200 day simple moving average is $59.43.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). 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 $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the business posted $1.71 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

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

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.