Fidelity National Information Services (NYSE:FIS) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Fidelity National Information Services (NYSE:FIS) in a research report report published on Wednesday morning, Benzinga reports. Wedbush currently has a $75.00 target price on the information technology services provider’s stock.

A number of other equities analysts have also weighed in on FIS. Susquehanna boosted their price target on shares of Fidelity National Information Services from $81.00 to $86.00 and gave the stock a positive rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Keefe, Bruyette & Woods lifted their price objective on Fidelity National Information Services from $82.00 to $85.00 and gave the stock an outperform rating in a research report on Wednesday. The Goldman Sachs Group began coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a buy rating and a $84.00 target price for the company. Finally, BNP Paribas cut shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target on the stock. in a research report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $78.11.

Fidelity National Information Services Price Performance

FIS traded down $0.34 during midday trading on Wednesday, hitting $73.71. 3,933,048 shares of the company traded hands, compared to its average volume of 4,475,390. The business has a 50 day simple moving average of $70.93 and a two-hundred day simple moving average of $62.99. Fidelity National Information Services has a 52-week low of $46.91 and a 52-week high of $75.71. The company has a market capitalization of $41.39 billion, a price-to-earnings ratio of -7.21, a PEG ratio of 0.88 and a beta of 0.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. On average, equities analysts forecast that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its Board of Directors has approved a share buyback program on Monday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Fidelity National Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.95%. Fidelity National Information Services’s payout ratio is -14.08%.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction on Monday, April 15th. The shares were bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Institutional investors have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Fidelity National Information Services in the third quarter valued at $25,000. EdgeRock Capital LLC purchased a new position in Fidelity National Information Services during the 4th quarter valued at about $29,000. Rise Advisors LLC acquired a new position in Fidelity National Information Services during the first quarter worth about $29,000. Delta Asset Management LLC TN grew its position in shares of 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 valued at $32,000 after purchasing an additional 450 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new position in shares of Fidelity National Information Services during the 4th quarter worth approximately $35,000. Hedge funds and other 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.