JPMorgan Chase & Co. Has Lowered Expectations for Fidelity National Information Services (NYSE:FIS) Stock Price

Fidelity National Information Services (NYSE:FIS) had its target price decreased by analysts at JPMorgan Chase & Co. from $80.00 to $65.00 in a report released on Thursday,Fidelity reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 34.11% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Compass Point reduced their target price on shares of Fidelity National Information Services from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fidelity National Information Services in a research report on Thursday, January 22nd. Cantor Fitzgerald started coverage on shares of Fidelity National Information Services in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $72.00 price objective for the company. UBS Group boosted their target price on Fidelity National Information Services from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Truist Financial cut their price objective on Fidelity National Information Services from $72.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 19th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $78.33.

Fidelity National Information Services Stock Down 4.1%

FIS stock opened at $48.47 on Thursday. The firm has a market capitalization of $25.10 billion, a PE ratio of 179.00, a P/E/G ratio of 0.75 and a beta of 0.90. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.64. Fidelity National Information Services has a twelve month low of $48.29 and a twelve month high of $82.74. The stock’s 50 day moving average is $62.39 and its 200-day moving average is $65.92.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 941 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was acquired at an average price of $64.11 per share, for a total transaction of $60,327.51. Following the purchase, the director directly owned 14,529 shares in the company, valued at $931,454.19. This trade represents a 6.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Large investors have recently modified their holdings of the company. Principal Securities Inc. lifted its stake in Fidelity National Information Services by 24.9% in the 4th quarter. Principal Securities Inc. now owns 28,271 shares of the information technology services provider’s stock worth $1,879,000 after purchasing an additional 5,635 shares in the last quarter. Aviva PLC raised its position in shares of Fidelity National Information Services by 5.6% in the fourth quarter. Aviva PLC now owns 440,758 shares of the information technology services provider’s stock worth $29,293,000 after buying an additional 23,376 shares in the last quarter. Peterson Wealth Services raised its position in shares of Fidelity National Information Services by 16,473.0% in the fourth quarter. Peterson Wealth Services now owns 20,219 shares of the information technology services provider’s stock worth $1,344,000 after buying an additional 20,097 shares in the last quarter. Nuveen LLC grew its position in Fidelity National Information Services by 27.8% during the fourth quarter. Nuveen LLC now owns 3,541,533 shares of the information technology services provider’s stock worth $235,370,000 after buying an additional 769,296 shares in the last quarter. Finally, Xponance LLC increased its stake in Fidelity National Information Services by 3.9% in the 4th quarter. Xponance LLC now owns 96,255 shares of the information technology services provider’s stock worth $6,397,000 after acquiring an additional 3,643 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors.

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.