Fidelity National Information Services (NYSE:FIS) Price Target Raised to $86.00 at Susquehanna

Fidelity National Information Services (NYSE:FIS) had its price target raised by Susquehanna from $81.00 to $86.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a positive rating on the information technology services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. BNP Paribas cut shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target for the company. in a research report on Thursday, April 11th. UBS Group lifted their target price on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a neutral rating in a report on Tuesday, February 27th. Morgan Stanley increased their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. TheStreet raised Fidelity National Information Services from a d rating to a c rating in a research note on Monday, February 26th. Finally, Evercore ISI boosted their price target on shares of Fidelity National Information Services from $75.00 to $80.00 and gave the stock an in-line rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $76.79.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock opened at $74.05 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $41.58 billion, a price-to-earnings ratio of -6.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a twelve month low of $46.91 and a twelve month high of $75.71. The company has a 50-day simple moving average of $70.79 and a two-hundred day simple moving average of $62.91.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. The business had revenue of $2.47 billion during 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%. Fidelity National Information Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Analysts forecast that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a $0.36 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

Fidelity National Information Services announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FIS. JPMorgan Chase & Co. increased its stake in shares of Fidelity National Information Services by 51.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider’s stock worth $166,408,000 after purchasing an additional 1,016,719 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Fidelity National Information Services in the 4th quarter worth approximately $1,244,000. Korea Investment CORP raised its stake in Fidelity National Information Services by 5.5% during the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock worth $11,890,000 after acquiring an additional 11,181 shares during the period. Sapient Capital LLC purchased a new position in Fidelity National Information Services during the fourth quarter valued at approximately $1,076,000. Finally, Alpha Cubed Investments LLC boosted its position in shares of Fidelity National Information Services by 48.3% in the fourth quarter. Alpha Cubed Investments LLC now owns 160,439 shares of the information technology services provider’s stock worth $9,638,000 after purchasing an additional 52,223 shares during the period. 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.