Bank of America Boosts Fidelity National Information Services (NYSE:FIS) Price Target to $96.00

Fidelity National Information Services (NYSE:FIS) had its price target increased by Bank of America from $90.00 to $96.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other research analysts have also issued reports on FIS. Barclays raised their target price on shares of Fidelity National Information Services from $88.00 to $90.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Fidelity National Information Services from $70.00 to $73.00 and gave the stock a hold rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their price target on Fidelity National Information Services from $93.00 to $95.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. UBS Group lifted their price objective on Fidelity National Information Services from $78.00 to $80.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods increased their target price on Fidelity National Information Services from $85.00 to $88.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services currently has an average rating of Moderate Buy and a consensus price target of $81.25.

Fidelity National Information Services Stock Performance

Shares of Fidelity National Information Services stock opened at $84.06 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a 50 day simple moving average of $79.19 and a 200 day simple moving average of $75.50. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $85.63. The firm has a market cap of $46.76 billion, a P/E ratio of -8.22, a P/E/G ratio of 0.82 and a beta of 1.08.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.13. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.49 billion. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. Sell-side analysts predict that Fidelity National Information Services will post 5.08 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.44 annualized dividend and a yield of 1.71%. Fidelity National Information Services’s dividend payout ratio is currently -14.08%.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein purchased 719 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were bought at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the completion of the acquisition, the director now directly owns 9,771 shares in the company, valued at approximately $750,510.51. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Fidelity National Information Services

A number of institutional investors have recently made changes to their positions in FIS. Cadence Bank grew its stake in Fidelity National Information Services by 1.9% during the first quarter. Cadence Bank now owns 7,145 shares of the information technology services provider’s stock worth $530,000 after buying an additional 132 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Fidelity National Information Services by 6.8% during the 1st quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock worth $166,000 after acquiring an additional 143 shares in the last quarter. SageView Advisory Group LLC increased its stake in Fidelity National Information Services by 1.3% in the first quarter. SageView Advisory Group LLC now owns 11,497 shares of the information technology services provider’s stock valued at $853,000 after acquiring an additional 148 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Fidelity National Information Services by 14.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock valued at $79,000 after purchasing an additional 166 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of Fidelity National Information Services by 2.4% during the 2nd quarter. Moody National Bank Trust Division now owns 7,117 shares of the information technology services provider’s stock worth $536,000 after buying an additional 169 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 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.