J P Morgan Chase & Co Lowers Fidelity National Information Services, Inc. (NYSE:FIS) Price Target to $103.00

Fidelity National Information Services, Inc. (NYSE:FIS) had its price objective decreased by J P Morgan Chase & Co from $106.00 to $103.00 in a research note released on Wednesday, November 1st. J P Morgan Chase & Co currently has an overweight rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Credit Suisse Group reaffirmed an outperform rating and issued a $108.00 price objective (up from $100.00) on shares of Fidelity National Information Services in a report on Wednesday, November 1st. They noted that the move was a valuation call. Barclays PLC boosted their price target on Fidelity National Information Services from $102.00 to $110.00 and gave the stock an overweight rating in a report on Thursday, October 26th. Zacks Investment Research cut Fidelity National Information Services from a buy rating to a hold rating in a report on Monday, October 16th. Robert W. Baird restated an outperform rating and set a $108.00 price objective (up previously from $102.00) on shares of Fidelity National Information Services in a research report on Tuesday, October 10th. Finally, BidaskClub upgraded Fidelity National Information Services from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $99.20.

Fidelity National Information Services (FIS) opened at $91.97 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. Fidelity National Information Services has a fifty-two week low of $73.97 and a fifty-two week high of $96.67. The stock has a market capitalization of $30,740.00, a PE ratio of 21.92, a P/E/G ratio of 1.74 and a beta of 0.88.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Tuesday, October 31st. The information technology services provider reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Fidelity National Information Services had a return on equity of 14.05% and a net margin of 5.82%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. analysts anticipate that Fidelity National Information Services will post 4.41 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, December 14th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently 72.05%.

Fidelity National Information Services announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 2nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other Fidelity National Information Services news, COO Anthony M. Jabbour sold 100,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $92.36, for a total transaction of $9,236,000.00. Following the completion of the transaction, the chief operating officer now directly owns 282,689 shares of the company’s stock, valued at $26,109,156.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James B. Stallings, Jr. sold 8,486 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $91.87, for a total value of $779,608.82. Following the completion of the transaction, the director now directly owns 12,317 shares of the company’s stock, valued at $1,131,562.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,033 shares of company stock valued at $15,433,548. Company insiders own 2.66% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Fidelity National Information Services by 23.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,706 shares of the information technology services provider’s stock worth $375,000 after buying an additional 906 shares in the last quarter. Janus Capital Management LLC raised its position in Fidelity National Information Services by 23.7% during the first quarter. Janus Capital Management LLC now owns 5,127,324 shares of the information technology services provider’s stock valued at $408,238,000 after purchasing an additional 983,896 shares in the last quarter. Point72 Asset Management L.P. raised its position in Fidelity National Information Services by 59.7% during the first quarter. Point72 Asset Management L.P. now owns 56,200 shares of the information technology services provider’s stock valued at $4,475,000 after purchasing an additional 21,000 shares in the last quarter. Summit Global Investments raised its position in Fidelity National Information Services by 180.8% during the first quarter. Summit Global Investments now owns 17,520 shares of the information technology services provider’s stock valued at $1,395,000 after purchasing an additional 11,280 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in Fidelity National Information Services by 933.0% during the first quarter. Bank of Nova Scotia now owns 75,139 shares of the information technology services provider’s stock valued at $5,982,000 after purchasing an additional 67,865 shares in the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

Analyst Recommendations for Fidelity National Information Services (NYSE:FIS)

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