Wells Fargo & Company Issues Pessimistic Forecast for Fidelity National Information Services (NYSE:FIS) Stock Price

Fidelity National Information Services (NYSE:FIS) had its price objective lowered by equities researchers at Wells Fargo & Company from $88.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 13.63% from the company’s previous close.

A number of other equities analysts have also recently issued reports on FIS. Robert W. Baird lifted their target price on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Jefferies Financial Group lifted their price objective on Fidelity National Information Services from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. TD Cowen increased their target price on Fidelity National Information Services from $78.00 to $86.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Stephens cut their price target on Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Susquehanna lowered Fidelity National Information Services from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $103.00 to $81.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Fidelity National Information Services presently has a consensus rating of “Hold” and an average target price of $87.95.

Fidelity National Information Services Price Performance

Shares of NYSE:FIS opened at $70.41 on Wednesday. The firm has a market capitalization of $37.90 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day simple moving average is $80.83 and its 200-day simple moving average is $82.87. Fidelity National Information Services has a 12 month low of $61.62 and a 12 month high of $91.98.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 EPS for the quarter, topping 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 quarter in the prior year, the business earned $0.94 EPS. As a group, equities analysts forecast that Fidelity National Information Services will post 5.18 earnings per share for the current fiscal year.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 701 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average price of $79.97 per share, with a total value of $56,058.97. Following the transaction, the director now owns 11,098 shares in the company, valued at $887,507.06. This trade represents a 6.74 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Fidelity National Information Services during the 4th quarter valued at $635,202,000. Raymond James Financial Inc. purchased a new position in Fidelity National Information Services in the fourth quarter valued at about $451,458,000. Raymond James & Associates lifted its stake in shares of Fidelity National Information Services by 449.8% during 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 position in shares of 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 buying an additional 1,616,146 shares during the period. Finally, KBC Group NV grew its stake in shares of 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 valued at $95,330,000 after buying an additional 1,101,072 shares in the last quarter. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

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.