Fidelity National Information Services (NYSE:FIS) Stock Price Target Cut by Truist Financial

Fidelity National Information Services (NYSE:FIS) had its price objective reduced by investment analysts at Truist Financial from $37.00 to $31.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the information technology services provider’s stock. Truist Financial‘s price target would indicate a potential upside of 2.66% from the stock’s current price.

Several other research analysts have also issued reports on FIS. Citigroup reduced their price target on Fidelity National Information Services from $39.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, November 5th. UBS Group reiterated an “outperform” rating on shares of Fidelity National Information Services in a report on Thursday, November 5th. Keefe, Bruyette & Woods cut their target price on Fidelity National Information Services from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. William Blair cut Fidelity National Information Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 4th. Finally, Wells Fargo & Company decreased their target price on Fidelity National Information Services from $46.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday, November 5th. Six analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.12.

Fidelity National Information Services Stock Performance

Shares of NYSE:FIS opened at $30.20 on Thursday. The stock has a market capitalization of $15.57 billion, a P/E ratio of 4.51, a P/E/G ratio of 0.35 and a beta of 0.84. Fidelity National Information Services has a 1-year low of $27.93 and a 1-year high of $68.37. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $35.51 and a two-hundred day moving average price of $42.67.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. Fidelity National Information Services had a net margin of 26.77% and a return on equity of 20.42%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm earned $1.51 EPS. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. Equities analysts predict that Fidelity National Information Services will post 5.85 earnings per share for the current year.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 1,585 shares of the stock in a transaction on Thursday, October 15th. The stock was purchased at an average price of $36.40 per share, for a total transaction of $57,694.00. Following the acquisition, the director owned 18,697 shares in the company, valued at approximately $680,570.80. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kourtney Gibson purchased 1,800 shares of the company’s stock in a transaction on Friday, November 6th. The stock was purchased at an average cost of $29.00 per share, for a total transaction of $52,200.00. Following the purchase, the director directly owned 5,903 shares in the company, valued at approximately $171,187. This trade represents a 43.87% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Fidelity National Information Services in the 2nd quarter valued at approximately $1,730,200,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Fidelity National Information Services during the 2nd quarter worth approximately $219,162,000. Bank of America Corp DE acquired a new position in Fidelity National Information Services during the 2nd quarter worth approximately $189,387,000. Legal & General Group Plc bought a new position in shares of Fidelity National Information Services during the 2nd quarter worth approximately $129,815,000. Finally, Deutsche Bank AG bought a new position in shares of Fidelity National Information Services during the 2nd quarter worth approximately $111,205,000. 96.23% of the stock is currently owned by institutional investors.

About Fidelity National Information Services

Fidelity National Information Services, Inc. (FIS) provides financial technology and services to banks, credit unions, capital markets firms and other financial institutions. Its offerings include systems for processing transactions, managing accounts and supporting day-to-day financial operations. The company’s products and services also cover digital banking, payments, risk management, regulatory compliance, treasury operations and capital markets activities such as trading and securities processing.