JPMorgan Chase & Co. Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $65.00

Fidelity National Information Services (NYSE:FIS) had its price objective decreased by JPMorgan Chase & Co. from $80.00 to $65.00 in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has an overweight rating on the information technology services provider’s stock.

Other equities research analysts also recently issued reports about the company. BNP Paribas Exane reduced their target price on Fidelity National Information Services from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Tuesday, January 20th. Cantor Fitzgerald started coverage on shares of Fidelity National Information Services in a research note on Tuesday, January 27th. They set an “overweight” rating and a $72.00 price objective for the company. Citigroup raised shares of Fidelity National Information Services to a “hold” rating in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $70.00 price target on shares of Fidelity National Information Services in a research report on Thursday, January 15th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Fidelity National Information Services in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.33.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $46.74 on Thursday. The company has a 50-day moving average of $61.62 and a 200-day moving average of $65.43. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 173.11, a price-to-earnings-growth ratio of 0.70 and a beta of 0.90. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.64. Fidelity National Information Services has a twelve month low of $46.16 and a twelve month high of $82.74.

Fidelity National Information Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, March 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently 592.59%.

Insider Activity

In other news, Director Jeffrey A. Goldstein bought 941 shares of the stock in a transaction on Thursday, January 15th. The shares were purchased at an average price of $64.11 per share, for a total transaction of $60,327.51. Following the completion of the purchase, the director directly owned 14,529 shares of the company’s stock, valued at $931,454.19. This trade represents a 6.93% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Large investors have recently made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its stake in Fidelity National Information Services by 21.9% in the third quarter. Pinnacle Bancorp Inc. now owns 835 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 150 shares during the last quarter. BOKF NA raised its holdings in shares of Fidelity National Information Services by 0.6% during the 3rd quarter. BOKF NA now owns 28,031 shares of the information technology services provider’s stock valued at $1,848,000 after purchasing an additional 159 shares in the last quarter. Fiduciary Trust Co lifted its stake in shares of Fidelity National Information Services by 4.9% in the 3rd quarter. Fiduciary Trust Co now owns 3,465 shares of the information technology services provider’s stock valued at $228,000 after purchasing an additional 161 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in Fidelity National Information Services by 3.1% in the second quarter. Wealthspire Advisors LLC now owns 5,426 shares of the information technology services provider’s stock worth $442,000 after purchasing an additional 162 shares in the last quarter. Finally, FJ Capital Management LLC increased its position in Fidelity National Information Services by 4.7% during the second quarter. FJ Capital Management LLC now owns 3,600 shares of the information technology services provider’s stock worth $293,000 after buying an additional 163 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

About Fidelity National Information Services

Fidelity National Information Services (NYSE: FIS) is a global provider of financial technology solutions and services for banks, capital markets firms, merchants and corporations. The company develops and delivers software, processing, and outsourcing services that support core banking, payments and merchant acquiring, wealth and retirement platforms, risk and compliance, and trading and capital markets operations. Its offerings include cloud-based and on-premises core banking systems, card processing and gateway services, e-commerce and point-of-sale payment solutions, and a range of back-office and advisory services designed to automate and modernize financial operations.

FIS serves a broad international client base across North America, Europe, Latin America, and the Asia-Pacific region through a combination of direct clients and partner channels.