Fidelity National Information Services (NYSE:FIS) Price Target Raised to $75.00 at Evercore ISI

Fidelity National Information Services (NYSE:FIS) had its target price lifted by equities researchers at Evercore ISI from $62.00 to $75.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s target price suggests a potential upside of 11.61% from the company’s previous close.

Several other research firms have also issued reports on FIS. Royal Bank of Canada increased their price target 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. The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target on the stock. UBS Group increased their price target 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. Robert W. Baird downgraded Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Fidelity National Information Services Stock Performance

Shares of NYSE:FIS opened at $67.20 on Tuesday. The firm has a fifty day simple moving average of $70.32 and a two-hundred day simple moving average of $62.29. 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 $37.73 billion, a P/E ratio of -5.98, a PEG ratio of 0.88 and a beta of 0.97. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $74.75.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. Fidelity National Information Services’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 earnings per share. On average, analysts expect that Fidelity National Information Services will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 775 shares of the company’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 transaction, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Trading of Fidelity National Information Services

A number of institutional investors have recently made changes to their positions in FIS. OFI Invest Asset Management acquired a new stake in shares of Fidelity National Information Services in the 3rd quarter worth $25,000. Baystate Wealth Management LLC boosted its position in shares of 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 worth $27,000 after purchasing an additional 372 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Fidelity National Information Services in the 4th quarter worth $29,000. Rise Advisors LLC acquired a new stake in shares of Fidelity National Information Services in the 1st quarter worth $29,000. Finally, Delta Asset Management LLC TN boosted its position in shares of Fidelity National Information Services by 600.0% in the 4th quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 450 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.