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

Fidelity National Information Services (NYSE:FIS) had its price target hoisted by equities researchers at Morgan Stanley from $80.00 to $87.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 3.12% from the company’s current price.

Several other equities research analysts also recently weighed in on FIS. JPMorgan Chase & Co. increased their target price on shares of Fidelity National Information Services from $85.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Oppenheimer initiated coverage on Fidelity National Information Services in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Royal Bank of Canada lifted their price objective on shares of Fidelity National Information Services from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen boosted their price target on shares of 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 analysts have rated the stock with a hold rating, eleven have assigned 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 an average price target of $85.05.

Fidelity National Information Services Trading Up 0.1 %

FIS opened at $89.80 on Tuesday. The company has a market cap of $48.99 billion, a P/E ratio of 67.01, a PEG ratio of 0.79 and a beta of 1.06. Fidelity National Information Services has a one year low of $49.91 and a one year high of $91.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.35. The business’s 50-day simple moving average is $85.64 and its 200-day simple moving average is $79.06.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, equities research analysts expect that Fidelity National Information Services will post 5.09 EPS for the current fiscal year.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 626 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were purchased at an average price of $88.25 per share, for a total transaction of $55,244.50. Following the completion of the transaction, the director now owns 10,397 shares in the company, valued at $917,535.25. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors have recently added to or reduced their stakes in the business. Cadence Bank boosted its stake in Fidelity National Information Services by 1.9% in the 1st quarter. Cadence Bank now owns 7,145 shares of the information technology services provider’s stock worth $530,000 after buying an additional 132 shares during the last quarter. Graypoint LLC grew its holdings in Fidelity National Information Services by 4.6% in the third quarter. Graypoint LLC now owns 3,026 shares of the information technology services provider’s stock valued at $253,000 after purchasing an additional 132 shares during the period. Atomi Financial Group Inc. grew its holdings in Fidelity National Information Services by 3.4% in the third quarter. Atomi Financial Group Inc. now owns 4,162 shares of the information technology services provider’s stock valued at $349,000 after purchasing an additional 135 shares during the period. Manchester Capital Management LLC raised its stake in Fidelity National Information Services by 6.8% during the first quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock worth $166,000 after purchasing an additional 143 shares during the period. Finally, Concord Wealth Partners boosted its holdings in shares of Fidelity National Information Services by 50.2% in the 3rd quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock valued at $37,000 after purchasing an additional 146 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

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.