TD Cowen Increases Fidelity National Information Services (NYSE:FIS) Price Target to $75.00

Fidelity National Information Services (NYSE:FIS) had its target price upped by TD Cowen from $70.00 to $75.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the information technology services provider’s stock.

Several other research analysts have also recently issued reports on FIS. Bank of America raised their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods raised their price objective on Fidelity National Information Services from $82.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Royal Bank of Canada raised their price objective on Fidelity National Information Services from $75.00 to $82.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $78.11.

Fidelity National Information Services Stock Down 0.5 %

Shares of NYSE FIS traded down $0.34 during trading on Wednesday, reaching $73.71. The company had a trading volume of 3,933,048 shares, compared to its average volume of 4,475,390. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $75.71. The stock 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. The business’s 50-day moving average is $70.93 and its 200 day moving average is $62.99. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68.

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

Fidelity National Information Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -14.08%.

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

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FIS. OFI Invest Asset Management bought a new position in shares of Fidelity National Information Services in the 3rd quarter worth $25,000. EdgeRock Capital LLC bought a new position in shares of Fidelity National Information Services in the 4th quarter worth $29,000. Rise Advisors LLC bought a new position in shares of Fidelity National Information Services in the 1st quarter worth $29,000. Delta Asset Management LLC TN raised its position in shares of Fidelity National Information Services by 600.0% in the 4th quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 450 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of Fidelity National Information Services in the 4th quarter worth $35,000. 96.23% of the stock is owned by institutional investors.

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.