Fidelity National Information Services (NYSE:FIS) Given New $84.00 Price Target at Bank of America

Fidelity National Information Services (NYSE:FIS) had its price target boosted by Bank of America from $79.00 to $84.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

FIS has been the subject of a number of other reports. Evercore ISI raised their price target on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock an in-line rating in a report on Tuesday, March 26th. Royal Bank of Canada raised their price target on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. BNP Paribas cut shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target for the company. in a report on Thursday, April 11th. The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They issued a buy rating and a $84.00 price target for the company. Finally, Mizuho raised their price target on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $71.59.

Fidelity National Information Services Trading Down 0.1 %

FIS opened at $70.65 on Tuesday. Fidelity National Information Services has a twelve month low of $46.91 and a twelve month high of $74.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $68.70 and a 200-day moving average of $61.05. The stock has a market cap of $40.73 billion, a PE ratio of -6.29, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). 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 $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the company earned $1.71 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts predict that Fidelity National Information Services will post 4.66 EPS for the current year.

Fidelity National Information Services declared that its board has authorized a share repurchase plan on Monday, February 26th that permits the company to buyback $500.00 million in outstanding 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Fidelity National Information Services Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s payout ratio is currently -12.81%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Fidelity National Information Services in the third quarter worth about $25,000. Baystate Wealth Management LLC raised its position in Fidelity National Information Services by 332.1% in the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 372 shares during the period. EdgeRock Capital LLC bought a new stake in Fidelity National Information Services in the fourth quarter worth about $29,000. Rise Advisors LLC bought a new stake in Fidelity National Information Services in the first quarter worth about $29,000. Finally, Brown Brothers Harriman & Co. raised its position in Fidelity National Information Services by 83.3% in the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 130 shares during the period. 96.23% of the stock is owned by 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.