Bank of America Boosts Fidelity National Information Services (NYSE:FIS) Price Target to $96.00

Fidelity National Information Services (NYSE:FIS) had its price objective raised by Bank of America from $90.00 to $96.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price target on Fidelity National Information Services from $85.00 to $88.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Barclays lifted their target price on Fidelity National Information Services from $88.00 to $90.00 and gave the stock an overweight rating in a research note on Thursday, August 8th. TD Cowen increased their price target on shares of Fidelity National Information Services from $75.00 to $78.00 and gave the company a hold rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Fidelity National Information Services from $70.00 to $73.00 and gave the stock a hold rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley downgraded shares of Fidelity National Information Services from an overweight rating to an equal weight rating and set a $79.00 target price for the company. in a research report on Monday, July 22nd. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $81.25.

Fidelity National Information Services Price Performance

FIS opened at $84.41 on Tuesday. Fidelity National Information Services has a 1 year low of $46.91 and a 1 year high of $85.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $46.95 billion, a price-to-earnings ratio of -8.25, a P/E/G ratio of 0.82 and a beta of 1.08. The firm’s fifty day moving average price is $79.04 and its two-hundred day moving average price is $75.40.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.13. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, analysts anticipate that Fidelity National Information Services will post 5.08 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, September 10th. Fidelity National Information Services’s dividend payout ratio is -14.08%.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 719 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were bought at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the completion of the transaction, the director now owns 9,771 shares in the company, valued at $750,510.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. increased its stake in Fidelity National Information Services by 27.1% in the fourth quarter. Brown Advisory Inc. now owns 249,907 shares of the information technology services provider’s stock valued at $15,012,000 after acquiring an additional 53,277 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Fidelity National Information Services during the 4th quarter valued at about $203,000. Quest Partners LLC purchased a new position in shares of Fidelity National Information Services during the 4th quarter valued at about $653,000. Assetmark Inc. grew its position in Fidelity National Information Services by 1.8% during the fourth quarter. Assetmark Inc. now owns 72,754 shares of the information technology services provider’s stock valued at $4,370,000 after acquiring an additional 1,303 shares during the last quarter. Finally, Keystone Financial Group raised its stake in shares of Fidelity National Information Services by 18.5% during the fourth quarter. Keystone Financial Group now owns 6,906 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 1,078 shares in the last quarter. 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.