Fidelity National Information Services (NYSE:FIS) PT Raised to $93.00 at Royal Bank of Canada

Fidelity National Information Services (NYSE:FIS) had its price objective increased by Royal Bank of Canada from $82.00 to $93.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

Several other equities research analysts also recently weighed in on the company. UBS Group upped their price target 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. Stephens restated an overweight rating and set a $90.00 price target on shares of Fidelity National Information Services in a report on Tuesday, May 7th. Evercore ISI upped their price target on Fidelity National Information Services from $75.00 to $80.00 and gave the stock an in-line rating in a report on Tuesday, May 7th. Bank of America upped their price target on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Finally, Susquehanna upped their price objective on Fidelity National Information Services from $81.00 to $86.00 and gave the stock a positive rating in a research report on Wednesday, May 8th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $79.32.

Fidelity National Information Services Stock Performance

Shares of Fidelity National Information Services stock opened at $76.12 on Friday. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $78.73. The business’s fifty day simple moving average is $74.02 and its 200-day simple moving average is $67.75. The firm has a market cap of $42.34 billion, a PE ratio of -7.44, a price-to-earnings-growth ratio of 0.78 and a beta of 1.05. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.59.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.14. The firm 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 13.91% and a negative net margin of 54.14%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 EPS. Equities analysts forecast that Fidelity National Information Services will post 4.96 earnings per share for the current year.

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

Fidelity National Information Services Announces Dividend

The business also recently announced 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 of this dividend is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a yield of 1.89%. Fidelity National Information Services’s payout ratio is currently -14.08%.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The stock was acquired at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FIS. Vanguard Group Inc. raised its stake in 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. FIL Ltd grew its holdings in shares of Fidelity National Information Services by 27.3% during the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock valued at $773,552,000 after acquiring an additional 2,758,049 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Fidelity National Information Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock valued at $506,753,000 after acquiring an additional 121,154 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Fidelity National Information Services by 6.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock valued at $505,956,000 after acquiring an additional 537,180 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Fidelity National Information Services during the 4th quarter valued at $478,594,000. 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.