Evercore ISI Increases Fidelity National Information Services (NYSE:FIS) Price Target to $80.00

Fidelity National Information Services (NYSE:FIS) had its price target lifted by stock analysts at Evercore ISI from $75.00 to $80.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the information technology services provider’s stock. Evercore ISI’s price objective points to a potential upside of 8.04% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Mizuho increased their price target on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Truist Financial raised their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They set a “buy” rating and a $84.00 price target for the company. Royal Bank of Canada lifted their target price on Fidelity National Information Services from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Fidelity National Information Services has an average rating of “Moderate Buy” and an average price target of $76.79.

Fidelity National Information Services Price Performance

NYSE:FIS opened at $74.05 on Tuesday. The firm has a market capitalization of $41.58 billion, a price-to-earnings ratio of -6.59, a PEG ratio of 0.88 and a beta of 0.98. 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 business has a 50 day simple moving average of $70.79 and a 200-day simple moving average of $62.91. Fidelity National Information Services has a 1 year low of $46.91 and a 1 year high of $75.71.

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

Fidelity National Information Services announced that its Board of Directors has approved a share buyback program 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was purchased at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the acquisition, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its holdings in Fidelity National Information Services by 6.8% during the first quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock worth $166,000 after acquiring an additional 143 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Fidelity National Information Services by 14.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock valued at $79,000 after purchasing an additional 166 shares in the last quarter. CKW Financial Group lifted its stake in shares of Fidelity National Information Services by 10.5% in the 1st quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock valued at $153,000 after purchasing an additional 200 shares during the period. Penbrook Management LLC grew its position in Fidelity National Information Services by 5.1% during the first quarter. Penbrook Management LLC now owns 4,124 shares of the information technology services provider’s stock valued at $306,000 after buying an additional 200 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Fidelity National Information Services by 9.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 203 shares during the period. 96.23% of the stock is owned by hedge funds and other 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.