Fidelity National Information Services (NYSE:FIS) Stock Rating Lowered by Raymond James

Raymond James cut shares of Fidelity National Information Services (NYSE:FIS) from a strong-buy rating to an outperform rating in a report released on Monday, MarketBeat Ratings reports. They currently have $101.00 price objective on the information technology services provider’s stock, down from their previous price objective of $115.00.

Several other brokerages have also issued reports on FIS. JPMorgan Chase & Co. raised their target price on Fidelity National Information Services from $89.00 to $99.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their price objective on Fidelity National Information Services from $95.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Bank of America increased their target price on shares of Fidelity National Information Services from $90.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Oppenheimer began coverage on shares of Fidelity National Information Services in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, UBS Group increased their price objective on shares of Fidelity National Information Services from $80.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.19.

Fidelity National Information Services Stock Performance

Shares of FIS stock opened at $79.34 on Monday. The firm has a market capitalization of $42.71 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 0.72 and a beta of 1.04. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $84.46 and its 200-day moving average price is $82.13. Fidelity National Information Services has a 12 month low of $58.24 and a 12 month high of $91.98.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.29 by $0.11. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.94 EPS. Equities research analysts forecast that Fidelity National Information Services will post 5.18 EPS for the current year.

Fidelity National Information Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 9th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 1.81%. Fidelity National Information Services’s payout ratio is 57.37%.

Insider Activity

In related news, Director Jeffrey A. Goldstein bought 626 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average price of $88.25 per share, with a total value of $55,244.50. Following the completion of the transaction, the director now directly owns 10,397 shares in the company, valued at approximately $917,535.25. This represents a 6.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lenore D. Williams sold 11,305 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $87.97, for a total value of $994,500.85. Following the completion of the sale, the executive vice president now directly owns 32,199 shares of the company’s stock, valued at $2,832,546.03. The trade was a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

A number of institutional investors have recently added to or reduced their stakes in FIS. CWA Asset Management Group LLC boosted its stake in shares of Fidelity National Information Services by 567.1% in the 4th quarter. CWA Asset Management Group LLC now owns 28,860 shares of the information technology services provider’s stock worth $2,331,000 after buying an additional 24,534 shares during the last quarter. Nordea Investment Management AB boosted its position in Fidelity National Information Services by 1,304.8% in the fourth quarter. Nordea Investment Management AB now owns 605,237 shares of the information technology services provider’s stock worth $48,927,000 after purchasing an additional 562,154 shares during the last quarter. Everence Capital Management Inc. grew its stake in Fidelity National Information Services by 68.2% in the 4th quarter. Everence Capital Management Inc. now owns 12,380 shares of the information technology services provider’s stock valued at $1,000,000 after purchasing an additional 5,020 shares during the period. GAMMA Investing LLC raised its stake in shares of Fidelity National Information Services by 11.5% during the 4th quarter. GAMMA Investing LLC now owns 13,232 shares of the information technology services provider’s stock worth $1,069,000 after purchasing an additional 1,364 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Fidelity National Information Services by 32.4% in the 4th quarter. Versant Capital Management Inc now owns 968 shares of the information technology services provider’s stock worth $78,000 after buying an additional 237 shares during the last quarter. 96.23% of the stock is owned by institutional investors.

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.