Royal Bank of Canada Increases Fidelity National Information Services (NYSE:FIS) Price Target to $82.00

Fidelity National Information Services (NYSE:FIS) had its price objective increased by stock analysts at Royal Bank of Canada from $75.00 to $82.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 10.74% from the stock’s current price.

Several other research firms have also weighed in on FIS. The Goldman Sachs Group started coverage on Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price on the stock. Robert W. Baird increased their price target on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday. Mizuho boosted their price objective on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Evercore ISI increased their target price on shares of Fidelity National Information Services from $62.00 to $75.00 and gave the stock an “in-line” rating in a report on Tuesday, April 30th. Finally, BNP Paribas lowered 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. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.79.

Fidelity National Information Services Stock Down 0.3 %

Shares of NYSE FIS opened at $74.05 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $41.58 billion, a PE ratio of -6.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The firm’s 50-day moving average is $70.79 and its 200-day moving average is $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 announced its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. Equities analysts expect that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services announced that its board has initiated a share repurchase plan on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein purchased 775 shares of the stock in a transaction on Monday, April 15th. The shares were purchased at an average price of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FIS. Vanguard Group Inc. lifted its stake in Fidelity National Information Services by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after purchasing an additional 6,503,451 shares during the last quarter. FIL Ltd boosted its stake in shares of Fidelity National Information Services by 27.3% during the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after acquiring an additional 2,758,049 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Fidelity National Information Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock worth $506,753,000 after acquiring an additional 121,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Fidelity National Information Services by 6.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock valued at $505,956,000 after acquiring an additional 537,180 shares during the period. Finally, Norges Bank acquired a new stake in Fidelity National Information Services during the 4th quarter valued at $478,594,000. Institutional investors own 96.23% of the company’s stock.

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.