Fidelity National Information Services (NYSE:FIS) PT Raised to $84.00 at Bank of America

Fidelity National Information Services (NYSE:FIS) had its target price lifted by equities research analysts at Bank of America from $79.00 to $84.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Bank of America‘s price target suggests a potential upside of 19.40% from the company’s current price.

Several other brokerages also recently commented on FIS. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Evercore ISI lifted their price target on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. UBS Group increased their price objective 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. Mizuho boosted their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.59.

Fidelity National Information Services Price Performance

FIS stock opened at $70.35 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. The firm has a market cap of $40.55 billion, a price-to-earnings ratio of -6.26, a PEG ratio of 0.89 and a beta of 0.97. The company’s fifty day simple moving average is $68.87 and its 200 day simple moving average is $61.11. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $74.75.

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

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

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIS. Laurel Wealth Advisors Inc. raised its holdings in shares of Fidelity National Information Services by 1.5% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,529 shares of the information technology services provider’s stock worth $756,000 after purchasing an additional 111 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Fidelity National Information Services by 3.8% in the first quarter. EP Wealth Advisors LLC now owns 3,098 shares of the information technology services provider’s stock valued at $311,000 after buying an additional 112 shares during the period. Brown Brothers Harriman & Co. lifted its position 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 buying an additional 130 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Fidelity National Information Services by 9.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 203 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Fidelity National Information Services by 30.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 879 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 206 shares during the last quarter. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

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.