Evercore ISI Raises Fidelity National Information Services (NYSE:FIS) Price Target to $80.00

Fidelity National Information Services (NYSE:FIS) had its price target increased by research analysts at Evercore ISI from $75.00 to $80.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s price objective would indicate a potential upside of 8.56% from the company’s current price.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. raised their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target on the stock. Bank of America raised their price objective on Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Stephens reiterated an “overweight” rating and set a $90.00 price target on shares of Fidelity National Information Services in a report on Tuesday. Finally, UBS Group raised their price objective on shares of 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. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.63.

Fidelity National Information Services Price Performance

NYSE FIS traded up $3.24 on Tuesday, hitting $73.69. 5,457,305 shares of the company were exchanged, compared to its average volume of 4,421,767. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $75.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $70.64 and a two-hundred day moving average of $62.74. The company has a market cap of $41.38 billion, a P/E ratio of -6.58, a P/E/G ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.96 by $0.14. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate 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 firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. On average, equities analysts predict that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services declared that its board has authorized a share buyback plan on Monday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Trading of Fidelity National Information Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mondrian Investment Partners LTD grew its holdings in Fidelity National Information Services by 248.5% in the 1st quarter. Mondrian Investment Partners LTD now owns 18,086 shares of the information technology services provider’s stock worth $1,342,000 after acquiring an additional 12,897 shares during the last quarter. Forsta AP Fonden raised its position in Fidelity National Information Services by 103.3% during the 1st quarter. Forsta AP Fonden now owns 238,500 shares of the information technology services provider’s stock valued at $17,692,000 after purchasing an additional 121,200 shares during the last quarter. Equity Investment Corp increased its position in Fidelity National Information Services by 7.5% during the 1st quarter. Equity Investment Corp now owns 1,109,561 shares of the information technology services provider’s stock valued at $82,307,000 after purchasing an additional 77,736 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Fidelity National Information Services by 10.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 144,243 shares of the information technology services provider’s stock valued at $10,700,000 after purchasing an additional 14,133 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in Fidelity National Information Services in the first quarter worth $1,198,000. 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.