Fidelity National Information Services (NYSE:FIS) Receives Outperform Rating from Wedbush

Fidelity National Information Services (NYSE:FIS)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $75.00 price target on the information technology services provider’s stock. Wedbush’s price objective suggests a potential upside of 2.81% from the stock’s previous close.

Several other analysts also recently commented on FIS. Robert W. Baird raised their target price on Fidelity National Information Services from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group started 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 on the stock. William Blair reaffirmed an “outperform” rating on shares of Fidelity National Information Services in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective 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. Finally, Mizuho lifted their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services currently has an average rating of “Moderate Buy” and an average price target of $75.79.

Fidelity National Information Services Stock Down 1.8 %

Shares of NYSE FIS traded down $1.36 during midday trading on Wednesday, reaching $72.95. The company’s stock had a trading volume of 1,572,141 shares, compared to its average volume of 4,436,926. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $75.71. The stock has a 50 day simple moving average of $70.79 and a 200-day simple moving average of $62.91. The stock has a market capitalization of $40.96 billion, a price-to-earnings ratio of -6.48, a PEG ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services declared that its board has approved a stock buyback plan on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction on Monday, April 15th. The shares were bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FIS. Manchester Capital Management LLC raised its holdings in Fidelity National Information Services by 6.8% in the first quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock valued at $166,000 after acquiring an additional 143 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Fidelity National Information Services by 14.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock valued at $79,000 after acquiring an additional 166 shares in the last quarter. CKW Financial Group grew its position in shares of Fidelity National Information Services by 10.5% during the first quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock worth $153,000 after acquiring an additional 200 shares during the last quarter. Penbrook Management LLC boosted its stake in shares of 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 worth $306,000 after buying an additional 200 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Fidelity National Information Services by 9.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock worth $134,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds 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.