Fidelity National Information Services (NYSE:FIS) Stock Rating Reaffirmed by William Blair

Fidelity National Information Services (NYSE:FIS)‘s stock had its “outperform” rating reaffirmed by analysts at William Blair in a research note issued on Tuesday, RTT News reports. William Blair also issued estimates for Fidelity National Information Services’ Q2 2024 earnings at $1.23 EPS, Q3 2024 earnings at $1.29 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $4.93 EPS, Q1 2025 earnings at $1.24 EPS, Q2 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.38 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $5.33 EPS.

A number of other research firms have also issued reports on FIS. Evercore ISI lifted their target price on Fidelity National Information Services from $62.00 to $75.00 and gave the stock an “in-line” rating in a report on Tuesday, April 30th. UBS Group boosted their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They set a “buy” rating and a $84.00 target price for the company. Morgan Stanley upped their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, Stephens reissued an “overweight” rating and set a $90.00 price objective on shares of Fidelity National Information Services in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Fidelity National Information Services presently has an average rating of “Moderate Buy” and a consensus target price of $76.79.

Fidelity National Information Services Stock Down 0.3 %

Fidelity National Information Services stock opened at $74.05 on Tuesday. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $75.71. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of -6.59, a PEG ratio of 0.88 and a beta of 0.98. The company’s 50-day moving average price is $70.79 and its two-hundred day moving average price is $62.91. The company has a current ratio of 0.75, a quick 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, 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 for the quarter, compared to analyst estimates of $2.44 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 up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $1.29 earnings per share. On average, analysts expect that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services declared that its board has approved a share repurchase program 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Fidelity National Information Services by 51.0% during the third 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 during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Fidelity National Information Services during the 4th quarter worth $1,244,000. Korea Investment CORP grew its stake in Fidelity National Information Services by 5.5% in the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock valued at $11,890,000 after buying an additional 11,181 shares during the last quarter. Sapient Capital LLC bought a new position in Fidelity National Information Services in the 4th quarter worth $1,076,000. Finally, Alpha Cubed Investments LLC lifted its position in Fidelity National Information Services by 48.3% during the 4th quarter. Alpha Cubed Investments LLC now owns 160,439 shares of the information technology services provider’s stock worth $9,638,000 after acquiring an additional 52,223 shares during the last quarter. 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.