Fidelity National Information Services (NYSE:FIS) Price Target Raised to $87.00

Fidelity National Information Services (NYSE:FIS) had its price target raised by Morgan Stanley from $80.00 to $87.00 in a research report report published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

A number of other research firms have also recently weighed in on FIS. JPMorgan Chase & Co. upped their price objective on shares of Fidelity National Information Services from $85.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on Fidelity National Information Services from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barclays raised their price objective on Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Stephens raised their price objective on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, TD Cowen boosted their price target on Fidelity National Information Services from $75.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Fidelity National Information Services Price Performance

Shares of NYSE:FIS traded up $1.94 during trading on Tuesday, hitting $88.62. 541,808 shares of the company’s stock were exchanged, compared to its average volume of 3,766,351. The company has a market cap of $48.35 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 0.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.35. Fidelity National Information Services has a 52-week low of $51.57 and a 52-week high of $91.98. The business’s 50-day simple moving average is $85.85 and its 200 day simple moving average is $79.22.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Monday, November 4th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.11. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.94 EPS. As a group, equities analysts predict that Fidelity National Information Services will post 5.08 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 57.37%.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 626 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was acquired at an average price of $88.25 per share, for a total transaction of $55,244.50. Following the acquisition, the director now directly owns 10,397 shares of the company’s stock, valued at $917,535.25. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of Fidelity National Information Services by 4.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 277,287 shares of the information technology services provider’s stock worth $23,223,000 after purchasing an additional 12,200 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Fidelity National Information Services during the 3rd quarter worth about $7,876,000. Fifth Third Wealth Advisors LLC lifted its stake in Fidelity National Information Services by 12.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,809 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 655 shares during the period. Caprock Group LLC boosted its position in Fidelity National Information Services by 115.1% during the third quarter. Caprock Group LLC now owns 26,569 shares of the information technology services provider’s stock worth $2,225,000 after purchasing an additional 14,218 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in Fidelity National Information Services by 3.0% in the 3rd quarter. Pathstone Holdings LLC now owns 36,969 shares of the information technology services provider’s stock worth $3,096,000 after buying an additional 1,093 shares during 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.