Fidelity National Information Services (NYSE:FIS) Price Target Raised to $78.00 at TD Cowen

Fidelity National Information Services (NYSE:FIS) had its price target lifted by TD Cowen from $75.00 to $78.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the information technology services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 2.03% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Stephens reissued an “overweight” rating and set a $90.00 price objective on shares of Fidelity National Information Services in a report on Tuesday, May 7th. Morgan Stanley cut shares of Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 price target for the company. in a research report on Monday, July 22nd. BNP Paribas lowered Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on Fidelity National Information Services from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price target on Fidelity National Information Services from $93.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.20.

Fidelity National Information Services Stock Down 0.1 %

Shares of NYSE FIS traded down $0.09 during mid-day trading on Wednesday, hitting $76.45. The company had a trading volume of 5,885,261 shares, compared to its average volume of 4,154,330. The company has a market capitalization of $42.53 billion, a PE ratio of -7.47, a price-to-earnings-growth ratio of 0.77 and a beta of 1.06. The business’s 50-day simple moving average is $75.70 and its 200 day simple moving average is $71.62. Fidelity National Information Services has a 1-year low of $46.91 and a 1-year high of $78.73. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.52 and a quick ratio of 1.52.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.13. Fidelity National Information Services had a negative net margin of 54.14% and a positive return on equity of 13.91%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Fidelity National Information Services will post 4.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 719 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, July 15th. The stock was purchased at an average price of $76.81 per share, for a total transaction of $55,226.39. Following the completion of the purchase, the director now directly owns 9,771 shares of the company’s stock, valued at $750,510.51. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Hedge funds have recently added to or reduced their stakes in the business. EdgeRock Capital LLC acquired a new stake in shares of Fidelity National Information Services during the 4th quarter worth about $29,000. Rise Advisors LLC acquired a new stake in Fidelity National Information Services during the first quarter worth approximately $29,000. Delta Asset Management LLC TN grew its stake in Fidelity National Information Services by 600.0% in the 4th quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 450 shares during the period. Family Firm Inc. acquired a new position in Fidelity National Information Services in the 2nd quarter valued at $35,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Fidelity National Information Services during the 1st quarter worth $37,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

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.