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

Fidelity National Information Services (NYSE:FIS) had its price objective hoisted by equities researchers at Evercore ISI from $62.00 to $75.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s price target would suggest a potential upside of 11.61% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Bank of America increased 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. Morgan Stanley upped their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 price target on the stock. Robert W. Baird cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and upped their price target for the company from $76.00 to $78.00 in a research report on Wednesday, March 13th. Finally, Truist Financial upped their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.50.

Fidelity National Information Services Stock Performance

NYSE FIS opened at $67.20 on Tuesday. The company has a market capitalization of $37.73 billion, a price-to-earnings ratio of -5.98, a PEG ratio of 0.88 and a beta of 0.97. Fidelity National Information Services has a twelve month low of $46.91 and a twelve month high of $74.75. The stock has a fifty day simple moving average of $70.32 and a 200 day simple moving average of $62.29. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.71 earnings per share. Sell-side analysts expect that Fidelity National Information Services will post 4.66 EPS for the current year.

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

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein acquired 775 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was purchased at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Large investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC purchased a new position in Fidelity National Information Services in the 3rd quarter valued at approximately $254,000. Brookstone Capital Management boosted its holdings in Fidelity National Information Services by 28.2% in the 3rd quarter. Brookstone Capital Management now owns 87,784 shares of the information technology services provider’s stock valued at $4,514,000 after purchasing an additional 19,306 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Fidelity National Information Services by 79.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 125,574 shares of the information technology services provider’s stock worth $6,941,000 after acquiring an additional 55,531 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Fidelity National Information Services by 0.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 107,217 shares of the information technology services provider’s stock worth $5,926,000 after acquiring an additional 400 shares during the last quarter. Finally, RMR Wealth Builders bought a new stake in shares of Fidelity National Information Services during the 3rd quarter worth $455,000. Hedge funds and other 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.