Fidelity National Information Services, Inc. (NYSE:FIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $105.00 price objective on the information technology services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.50% from the stock’s current price.

According to Zacks, “Shares of Fidelity National Information Services have underperformed the industry, year to date. The company displays an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Fidelity remains well positioned for growth backed by its attractive core business with a recurring revenue model, digitization, diversified product portfolio, benefits from strategic acquisitions, as well as several ongoing strategic initiatives. Moreover, cost-control efforts are also commendable. It anticipates 2017 adjusted earnings per share in the band of $4.22-$4.32, reflecting an increase of 10-13% year over year. We remain cautious owing to several issues, including the ongoing consolidation in the banking sector and stiff competition. Moreover, elevated debt level is also a concern.”

A number of other equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Fidelity National Information Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Cowen and Company reissued a “buy” rating and set a $97.00 price objective on shares of Fidelity National Information Services in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and set a $96.00 price objective on shares of Fidelity National Information Services in a research note on Wednesday, July 12th. Robert W. Baird restated a “buy” rating and set a $102.00 price objective on shares of Fidelity National Information Services in a research note on Friday, September 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $94.00 target price (up from $92.00) on shares of Fidelity National Information Services in a report on Friday, June 16th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $94.27.

Fidelity National Information Services (NYSE:FIS) traded up 0.01% on Tuesday, hitting $93.34. 280,216 shares of the company were exchanged. Fidelity National Information Services has a 52 week low of $73.25 and a 52 week high of $93.86. The stock has a market capitalization of $31.03 billion, a P/E ratio of 46.79 and a beta of 0.85. The company has a 50 day moving average price of $92.17 and a 200-day moving average price of $86.74.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.05. Fidelity National Information Services had a return on equity of 13.49% and a net margin of 7.08%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts expect that Fidelity National Information Services will post $4.28 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its board has authorized a share repurchase plan on Wednesday, August 2nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 13.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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In other news, Director Stephan A. James sold 18,368 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $90.14, for a total value of $1,655,691.52. Following the transaction, the director now owns 43,231 shares in the company, valued at approximately $3,896,842.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James B. Stallings, Jr. sold 2,181 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $90.32, for a total transaction of $196,987.92. Following the completion of the transaction, the director now owns 12,317 shares in the company, valued at approximately $1,112,471.44. The disclosure for this sale can be found here. Insiders sold 520,549 shares of company stock worth $47,224,679 over the last three months. Insiders own 2.66% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FIS. Guardian Life Insurance Co. of America increased its holdings in Fidelity National Information Services by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,266 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 9 shares during the last quarter. WFG Advisors LP raised its position in Fidelity National Information Services by 99.8% in the second quarter. WFG Advisors LP now owns 1,187 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 593 shares during the period. Motco raised its position in Fidelity National Information Services by 12.3% in the second quarter. Motco now owns 1,192 shares of the information technology services provider’s stock worth $102,000 after acquiring an additional 131 shares during the period. BB&T Investment Services Inc. bought a new position in Fidelity National Information Services in the second quarter worth approximately $103,000. Finally, IFP Advisors Inc raised its position in Fidelity National Information Services by 6.8% in the second quarter. IFP Advisors Inc now owns 1,317 shares of the information technology services provider’s stock worth $112,000 after acquiring an additional 84 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

Analyst Recommendations for Fidelity National Information Services (NYSE:FIS)

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