Fidelity National Information Services (NYSE:FIS) PT Raised to $75.00 at Evercore ISI

Fidelity National Information Services (NYSE:FIS) had its price objective increased by investment analysts at Evercore ISI from $62.00 to $75.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s target price indicates a potential upside of 8.98% from the stock’s previous close.

Several other research analysts have also recently weighed in on FIS. UBS Group increased their price objective on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. raised their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Royal Bank of Canada upped their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Mizuho boosted their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley increased their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services currently has an average rating of “Moderate Buy” and an average target price of $72.50.

Fidelity National Information Services Stock Performance

Shares of FIS traded down $0.62 during mid-day trading on Tuesday, reaching $68.82. The company’s stock had a trading volume of 334,362 shares, compared to its average volume of 4,364,569. The business has a 50-day simple moving average of $70.15 and a two-hundred day simple moving average of $62.14. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $74.75. The stock has a market cap of $39.67 billion, a P/E ratio of -6.15, a PEG ratio of 0.88 and a beta of 0.97. 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 posted its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 EPS. As a group, equities research analysts anticipate that Fidelity National Information Services will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has approved a share buyback plan on Monday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of Fidelity National Information Services by 51.0% in the third quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider’s stock worth $166,408,000 after buying an additional 1,016,719 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Fidelity National Information Services during the fourth quarter valued at approximately $1,244,000. Korea Investment CORP increased its holdings in shares of Fidelity National Information Services by 5.5% in the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock worth $11,890,000 after buying an additional 11,181 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Fidelity National Information Services during the 4th quarter worth $1,076,000. Finally, Global Retirement Partners LLC increased its stake in Fidelity National Information Services by 8.6% in the fourth quarter. Global Retirement Partners LLC now owns 7,666 shares of the information technology services provider’s stock valued at $469,000 after acquiring an additional 607 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Company Profile

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.