Fidelity National Information Services (NYSE:FIS) Price Target Raised to $99.00

Fidelity National Information Services (NYSE:FIS) had its price objective increased by JPMorgan Chase & Co. from $89.00 to $99.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on the stock. Barclays increased their price objective 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. Royal Bank of Canada boosted their target price on 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. Bank of America boosted their price objective on shares of Fidelity National Information Services from $90.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. TD Cowen boosted their target price on shares of Fidelity National Information Services from $75.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley boosted their price target on Fidelity National Information Services from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.75.

Fidelity National Information Services Trading Up 2.2 %

Fidelity National Information Services stock traded up $1.94 during trading hours on Tuesday, reaching $88.62. The company had a trading volume of 541,808 shares, compared to its average volume of 3,766,351. The firm has a market cap of $48.35 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 0.80 and a beta of 1.06. Fidelity National Information Services has a 12-month low of $51.57 and a 12-month high of $91.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.35. The company has a 50-day moving average price of $85.85 and a 200 day moving average price of $79.22.

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

Fidelity National Information Services Announces Dividend

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

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein bought 626 shares of Fidelity National Information Services stock in a transaction on Tuesday, October 15th. The shares were bought at an average price of $88.25 per share, with a total value of $55,244.50. Following the acquisition, the director now directly owns 10,397 shares in the company, valued at approximately $917,535.25. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Fidelity National Information Services

Several hedge funds have recently added to or reduced their stakes in FIS. Vanguard Group Inc. increased its position in shares of Fidelity National Information Services by 19.1% during the 1st quarter. Vanguard Group Inc. now owns 68,658,572 shares of the information technology services provider’s stock valued at $5,093,093,000 after purchasing an additional 11,023,109 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Fidelity National Information Services by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,251,434 shares of the information technology services provider’s stock valued at $395,729,000 after purchasing an additional 249,678 shares during the period. Legal & General Group Plc raised its position in shares of Fidelity National Information Services by 1.6% during the second quarter. Legal & General Group Plc now owns 4,938,091 shares of the information technology services provider’s stock worth $372,135,000 after purchasing an additional 75,429 shares during the period. Boston Partners increased its stake in Fidelity National Information Services by 642.7% in the 1st quarter. Boston Partners now owns 4,470,605 shares of the information technology services provider’s stock worth $331,047,000 after purchasing an additional 3,868,683 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Fidelity National Information Services by 449.8% in the third quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock worth $343,693,000 after buying an additional 3,357,329 shares during the period. 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.