Fidelity National Information Services (NYSE:FIS) Rating Reiterated by Wedbush

Fidelity National Information Services (NYSE:FIS)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $75.00 price objective on the information technology services provider’s stock. Wedbush’s price objective would indicate a potential upside of 1.75% from the stock’s current price.

A number of other brokerages have also weighed in on FIS. Royal Bank of Canada upped their price target on shares of Fidelity National Information Services from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group lifted their price target on 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. JPMorgan Chase & Co. upped their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Morgan Stanley lifted their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Stephens reissued an “overweight” rating and issued a $90.00 price target on shares of Fidelity National Information Services in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services presently has a consensus rating of “Moderate Buy” and an average price target of $78.11.

Fidelity National Information Services Price Performance

Shares of NYSE: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 firm’s 50 day moving average is $70.93 and its two-hundred day moving average is $62.99. The firm has a market capitalization of $41.39 billion, a P/E ratio of -7.21, a PEG ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $75.71.

Fidelity National Information Services (NYSE:FIS) last released its quarterly 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 positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts anticipate that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services announced that its Board of Directors has approved a share buyback program on Monday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 775 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, 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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Fidelity National Information Services

A number of institutional investors have recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Fidelity National Information Services during the 3rd quarter worth about $25,000. EdgeRock Capital LLC bought a new position in Fidelity National Information Services during the fourth quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in Fidelity National Information Services in the first quarter valued at approximately $29,000. Delta Asset Management LLC TN grew its position in Fidelity National Information Services by 600.0% in the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 450 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Fidelity National Information Services during the 4th quarter worth $35,000. Institutional investors and hedge funds 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.