Fidelity National Information Servcs (NYSE:FIS) Coverage Initiated by Analysts at Canaccord Genuity

Analysts at Canaccord Genuity began coverage on shares of Fidelity National Information Servcs (NYSE:FIS) in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage set a “buy” rating and a $151.00 price target on the information technology services provider’s stock. Canaccord Genuity’s price objective suggests a potential upside of 15.01% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Citigroup boosted their price target on Fidelity National Information Servcs from $142.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James set a $149.00 price target on Fidelity National Information Servcs and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Goldman Sachs Group assumed coverage on Fidelity National Information Servcs in a research report on Thursday, July 25th. They set a “buy” rating and a $154.00 price target for the company. Barclays set a $147.00 price target on Fidelity National Information Servcs and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, ValuEngine lowered Fidelity National Information Servcs from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $146.30.

Shares of FIS stock opened at $131.29 on Thursday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.00 and a current ratio of 3.00. Fidelity National Information Servcs has a 1 year low of $94.53 and a 1 year high of $141.35. The stock has a fifty day moving average of $135.01 and a two-hundred day moving average of $121.41. The firm has a market capitalization of $80.12 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65.

Fidelity National Information Servcs (NYSE:FIS) last announced its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.78. Fidelity National Information Servcs had a return on equity of 20.66% and a net margin of 8.97%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts predict that Fidelity National Information Servcs will post 6 earnings per share for the current fiscal year.

In other news, Director Lisa Hook sold 6,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $136.14, for a total value of $816,840.00. Following the completion of the sale, the director now owns 6,797 shares in the company, valued at $925,343.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary L. Lauer sold 9,981 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $135.77, for a total value of $1,355,120.37. Following the completion of the sale, the director now owns 18,621 shares of the company’s stock, valued at approximately $2,528,173.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,422 shares of company stock valued at $22,643,781. Insiders own 1.43% of the company’s stock.

Several institutional investors have recently made changes to their positions in FIS. Nuveen Asset Management LLC raised its position in shares of Fidelity National Information Servcs by 9,131.1% during the second quarter. Nuveen Asset Management LLC now owns 4,432,427 shares of the information technology services provider’s stock worth $543,771,000 after purchasing an additional 4,384,411 shares during the period. Marshall Wace North America L.P. raised its position in shares of Fidelity National Information Servcs by 15,717.0% during the first quarter. Marshall Wace North America L.P. now owns 1,774,196 shares of the information technology services provider’s stock worth $200,662,000 after purchasing an additional 1,762,979 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Fidelity National Information Servcs during the first quarter worth $144,430,000. Senator Investment Group LP acquired a new stake in shares of Fidelity National Information Servcs during the second quarter worth $153,350,000. Finally, Steadfast Capital Management LP acquired a new stake in shares of Fidelity National Information Servcs during the second quarter worth $128,362,000. 92.69% of the stock is currently owned by institutional investors.

About Fidelity National Information Servcs

Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.

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

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