Fidelity National Information Services (NYSE:FIS) Price Target Cut to $80.00 by Analysts at Wells Fargo & Company

Fidelity National Information Services (NYSE:FIS) had its price objective lowered by Wells Fargo & Company from $88.00 to $80.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the information technology services provider’s stock.

Other equities research analysts have also issued reports about the company. TD Cowen raised their price objective on Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating for the company in a report on Wednesday. Compass Point cut their price objective on Fidelity National Information Services from $126.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday. Raymond James downgraded Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $115.00 to $101.00 in a research note on Monday, January 6th. Finally, BNP Paribas downgraded Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.95.

Fidelity National Information Services Trading Down 0.8 %

NYSE:FIS opened at $72.59 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63. Fidelity National Information Services has a 1-year low of $60.39 and a 1-year high of $91.98. The firm has a market capitalization of $39.08 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04. The stock has a fifty day simple moving average of $81.08 and a 200 day simple moving average of $82.94.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 15.35% and a net margin of 14.37%. During the same period last year, the business posted $0.94 earnings per share. Sell-side analysts forecast that Fidelity National Information Services will post 5.18 earnings per share for the current year.

Fidelity National Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 11th. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Fidelity National Information Services’s payout ratio is currently 57.37%.

Insider Activity at Fidelity National Information Services

In related news, EVP Lenore D. Williams sold 11,305 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $87.97, for a total value of $994,500.85. Following the sale, the executive vice president now owns 32,199 shares of the company’s stock, valued at $2,832,546.03. The trade was a 25.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Goldstein purchased 701 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was bought at an average cost of $79.97 per share, for a total transaction of $56,058.97. Following the purchase, the director now owns 11,098 shares in the company, valued at $887,507.06. This represents a 6.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Fidelity National Information Services

A number of institutional investors and hedge funds have recently bought and sold shares of FIS. Norges Bank acquired a new position in Fidelity National Information Services in the fourth quarter worth $635,202,000. Raymond James Financial Inc. acquired a new position in Fidelity National Information Services in the fourth quarter worth $451,458,000. Raymond James & Associates boosted its stake in Fidelity National Information Services by 449.8% in the third quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock worth $343,693,000 after purchasing an additional 3,357,329 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Fidelity National Information Services by 100.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider’s stock worth $261,037,000 after purchasing an additional 1,616,146 shares in the last quarter. Finally, KBC Group NV boosted its stake in Fidelity National Information Services by 1,390.5% in the fourth quarter. KBC Group NV now owns 1,180,258 shares of the information technology services provider’s stock worth $95,330,000 after purchasing an additional 1,101,072 shares in the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

About Fidelity National Information Services

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.