Fidelity National Information Services (NYSE:FIS) Given New $80.00 Price Target at Evercore ISI

Fidelity National Information Services (NYSE:FIS) had its price objective hoisted by Evercore ISI from $75.00 to $80.00 in a report issued on Tuesday, Benzinga reports. They currently have an in-line rating on the information technology services provider’s stock.

A number of other analysts have also commented on FIS. Morgan Stanley lifted their price objective on 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. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They set a buy rating and a $84.00 price target for the company. Royal Bank of Canada raised their price objective on shares of Fidelity National Information Services from $75.00 to $82.00 and gave the company an outperform rating in a research note on Tuesday. Robert W. Baird upped their target price on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the company a neutral rating in a research report on Tuesday. Finally, UBS Group raised their price target 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. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Fidelity National Information Services presently has an average rating of Moderate Buy and a consensus price target of $74.63.

Fidelity National Information Services Trading Up 5.5 %

FIS opened at $74.31 on Tuesday. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $75.71. The stock has a market capitalization of $41.73 billion, a PE ratio of -6.61, a PEG ratio of 0.88 and a beta of 0.98. 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 price of $70.79 and a two-hundred day moving average price of $62.91.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $1.29 earnings per share. Fidelity National Information Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

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

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

Insider Transactions at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 775 shares of the business’s stock in a transaction on Monday, April 15th. The shares were 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 of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.68% of the stock is owned by insiders.

Institutional Trading of Fidelity National Information Services

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Fidelity National Information Services by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock worth $3,199,306,000 after buying an additional 6,503,451 shares in the last quarter. FIL Ltd raised its holdings in Fidelity National Information Services by 27.3% during the fourth quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after acquiring an additional 2,758,049 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fidelity National Information Services by 1.4% during the fourth 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 purchasing an additional 121,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Fidelity National Information Services by 6.8% in the fourth 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 purchasing an additional 537,180 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $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.