Fidelity National Information Services, Inc. (NYSE:FIS) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Fidelity National Information Services, Inc. (NYSE:FIS) have been given a consensus rating of “Hold” by the twenty-eight analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, nineteen have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $41.12.

A number of equities research analysts have issued reports on the stock. Bank of America downgraded shares of Fidelity National Information Services from a “buy” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $33.00 in a research report on Thursday, November 5th. William Blair downgraded shares of Fidelity National Information Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 4th. Robert W. Baird cut their price objective on Fidelity National Information Services from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, September 25th. Barclays cut their price objective on Fidelity National Information Services from $38.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, November 5th. Finally, Raymond James Financial reissued an “outperform” rating and set a $35.00 price objective on shares of Fidelity National Information Services in a research report on Wednesday, November 4th.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Kourtney Gibson acquired 1,800 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average price of $29.00 per share, with a total value of $52,200.00. Following the completion of the transaction, the director owned 5,903 shares in the company, valued at $171,187. The trade was a 43.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Goldstein purchased 1,585 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were acquired at an average price of $36.40 per share, for a total transaction of $57,694.00. Following the purchase, the director owned 18,697 shares in the company, valued at $680,570.80. The trade was a 9.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors have recently bought and sold shares of FIS. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Fidelity National Information Services in the 3rd quarter worth approximately $35,000. First Command Advisory Services Inc. increased its position in shares of Fidelity National Information Services by 362.9% during the third quarter. First Command Advisory Services Inc. now owns 1,134 shares of the information technology services provider’s stock valued at $37,000 after purchasing an additional 889 shares during the period. Bank & Trust Co bought a new stake in shares of Fidelity National Information Services during the third quarter valued at approximately $51,000. N.E.W. Advisory Services LLC acquired a new position in shares of Fidelity National Information Services in the second quarter valued at $58,000. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in shares of Fidelity National Information Services by 96.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,976 shares of the information technology services provider’s stock valued at $65,000 after purchasing an additional 972 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors.

Key Stories Impacting Fidelity National Information Services

These are some of the FIS stories that stood out recently:

• Neutral Sentiment: FIS presented at the KBW Fintech Ecosystem Conference. The available article is a transcript, but the provided details do not identify a specific new announcement or financial catalyst. Conference transcript
• Negative Sentiment: Truist cut its price target to $31 from $37 and maintained a Hold rating. Bernstein also lowered its target to $31 from $48 and rated the shares Market Perform, reflecting reduced expectations for the stock.
• Negative Sentiment: A law firm announced a securities investigation related to FIS’s earnings and revised outlook. The notice adds headline risk, but is an investigation—not a finding of wrongdoing. Securities investigation notice

Fidelity National Information Services Stock Down 6.0%

Shares of Fidelity National Information Services stock opened at $28.39 on Friday. Fidelity National Information Services has a twelve month low of $27.93 and a twelve month high of $68.37. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 4.93, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84. 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 company has a fifty day moving average price of $35.24 and a 200 day moving average price of $42.52.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly 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. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Fidelity National Information Services had a net margin of 26.77% and a return on equity of 20.42%. The firm’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. Equities research analysts forecast that Fidelity National Information Services will post 5.85 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be issued a $0.44 dividend. The ex-dividend date is Monday, December 14th. This represents a $1.76 dividend on an annualized basis and a yield of 6.2%. Fidelity National Information Services’s dividend payout ratio is currently 26.27%.

Fidelity National Information Services Company Profile

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.