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

Fidelity National Information Services (NYSE:FIS)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $75.00 target price on the information technology services provider’s stock. Wedbush’s target price would indicate a potential upside of 1.75% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. BNP Paribas downgraded 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 note on Thursday, April 11th. Morgan Stanley upped their target price on shares of 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. Stephens restated an “overweight” rating and issued a $90.00 price objective on shares of Fidelity National Information Services in a report on Tuesday. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a research report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target on the stock. Finally, Truist Financial lifted their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.11.

Fidelity National Information Services Stock Down 0.5 %

Shares of NYSE:FIS opened at $73.71 on Wednesday. Fidelity National Information Services has a 1 year low of $46.91 and a 1 year high of $75.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50-day moving average is $70.93 and its 200 day moving average is $62.99. The company has a market cap of $41.39 billion, a PE ratio of -7.21, a P/E/G ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last announced its 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 company 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%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. Sell-side analysts anticipate that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Large investors have recently added to or reduced their stakes in the company. Gratus Wealth Advisors LLC raised its position in shares of Fidelity National Information Services by 109.6% during the 1st quarter. Gratus Wealth Advisors LLC now owns 11,702 shares of the information technology services provider’s stock valued at $819,000 after purchasing an additional 6,118 shares during the period. Great Lakes Retirement Inc. lifted its position in shares of Fidelity National Information Services by 2.9% in the first quarter. Great Lakes Retirement Inc. now owns 19,834 shares of the information technology services provider’s stock valued at $1,471,000 after acquiring an additional 554 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Fidelity National Information Services in the first quarter worth about $360,000. Orion Portfolio Solutions LLC grew its position in shares of Fidelity National Information Services by 26.7% during the first quarter. Orion Portfolio Solutions LLC now owns 141,845 shares of the information technology services provider’s stock worth $10,522,000 after purchasing an additional 29,923 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Fidelity National Information Services by 65.4% during the 1st quarter. Blair William & Co. IL now owns 352,405 shares of the information technology services provider’s stock valued at $26,141,000 after purchasing an additional 139,336 shares during the period. 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.