Fidelity National Information Services (NYSE:FIS) Stock Price Target Cut by Cantor Fitzgerald

Fidelity National Information Services (NYSE:FIS) had its price target cut by equities researchers at Cantor Fitzgerald from $45.00 to $34.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Cantor Fitzgerald‘s target price would suggest a potential upside of 18.61% from the company’s current price.

FIS has been the topic of several other reports. Keefe, Bruyette & Woods lowered their price objective on shares of Fidelity National Information Services from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday. William Blair cut shares of Fidelity National Information Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 4th. Wolfe Research cut shares of Fidelity National Information Services from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Bank of America downgraded Fidelity National Information Services from a “buy” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $33.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. downgraded shares of Fidelity National Information Services from an “overweight” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Wednesday, November 4th. Six analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Fidelity National Information Services has a consensus rating of “Hold” and an average price target of $41.76.

Fidelity National Information Services Price Performance

Shares of NYSE FIS opened at $28.66 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.55 and a quick ratio of 0.55. The business has a 50-day moving average of $36.23 and a 200-day moving average of $43.15. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 4.28, a PEG ratio of 0.36 and a beta of 0.84. Fidelity National Information Services has a fifty-two week low of $28.39 and a fifty-two week high of $68.37.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Fidelity National Information Services had a return on equity of 20.42% and a net margin of 26.77%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. Fidelity National Information Services’s revenue was up 27.1% on a year-over-year basis. As a group, sell-side analysts predict that Fidelity National Information Services will post 5.85 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey Goldstein bought 1,585 shares of Fidelity National Information Services stock in a transaction dated Thursday, October 15th. The shares were bought at an average cost of $36.40 per share, with a total value of $57,694.00. Following the acquisition, the director owned 18,697 shares in the company, valued at $680,570.80. This trade represents a 9.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Fidelity National Information Services in the 3rd quarter valued at approximately $35,000. First Command Advisory Services Inc. lifted its holdings in shares of Fidelity National Information Services by 362.9% during the 3rd quarter. First Command Advisory Services Inc. now owns 1,134 shares of the information technology services provider’s stock worth $37,000 after acquiring an additional 889 shares during the period. Bank & Trust Co acquired a new stake in shares of Fidelity National Information Services during the 3rd quarter worth approximately $51,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Fidelity National Information Services during the 2nd quarter worth approximately $58,000. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Fidelity National Information Services by 96.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,976 shares of the information technology services provider’s stock valued at $65,000 after acquiring an additional 972 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) provides financial technology and services to banks, credit unions, capital markets firms and other financial institutions. Its offerings include systems for processing transactions, managing accounts and supporting day-to-day financial operations.

The company’s products and services also cover digital banking, payments, risk management, regulatory compliance, treasury operations and capital markets activities such as trading and securities processing.