Royal Bank of Canada Boosts Fidelity National Information Services (NYSE:FIS) Price Target to $95.00

Fidelity National Information Services (NYSE:FIS) had its target price lifted by equities researchers at Royal Bank of Canada from $93.00 to $95.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 22.79% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Mizuho raised their target price on Fidelity National Information Services from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Robert W. Baird boosted their target price on Fidelity National Information Services from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Fidelity National Information Services from $75.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Evercore ISI lifted their price objective on Fidelity National Information Services from $75.00 to $80.00 and gave the stock an “in-line” rating in a report on Tuesday, May 7th. Finally, TD Cowen increased their price target on Fidelity National Information Services from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.32.

Fidelity National Information Services Trading Up 1.1 %

Shares of FIS traded up $0.83 during mid-day trading on Wednesday, reaching $77.37. 1,499,436 shares of the company were exchanged, compared to its average volume of 4,125,285. The business has a 50 day simple moving average of $75.70 and a two-hundred day simple moving average of $71.62. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $78.73. The stock has a market capitalization of $43.04 billion, a PE ratio of -7.56, a PEG ratio of 0.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.52 and a current ratio of 1.52.

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

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 719 shares of Fidelity National Information Services stock in a transaction dated Monday, July 15th. The shares were acquired at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the completion of the purchase, the director now owns 9,771 shares in the company, valued at $750,510.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Choreo LLC purchased a new position in shares of Fidelity National Information Services in the 2nd quarter valued at about $1,994,000. Prudential PLC raised its holdings in Fidelity National Information Services by 22.0% in the 2nd quarter. Prudential PLC now owns 83,934 shares of the information technology services provider’s stock valued at $6,325,000 after acquiring an additional 15,124 shares during the last quarter. PFG Investments LLC boosted its position in shares of Fidelity National Information Services by 7.8% in the second quarter. PFG Investments LLC now owns 3,470 shares of the information technology services provider’s stock worth $261,000 after acquiring an additional 252 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Fidelity National Information Services during the 2nd quarter valued at $94,000. Finally, Caprock Group LLC raised its stake in shares of Fidelity National Information Services by 33.7% in the 2nd quarter. Caprock Group LLC now owns 12,351 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 3,110 shares in the last quarter. 96.23% of the stock is 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.