Fidelity National Information Services (NYSE:FIS) Given New $82.00 Price Target at Royal Bank of Canada

Fidelity National Information Services (NYSE:FIS) had its price target upped by Royal Bank of Canada from $75.00 to $82.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the information technology services provider’s stock.

A number of other research firms have also recently issued reports on FIS. Mizuho boosted their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the company a buy rating in a research note on Wednesday, February 28th. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a buy rating and a $84.00 price objective for the company. Bank of America upped their target price on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. BNP Paribas downgraded Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target on the stock. in a research note on Thursday, April 11th. Finally, Morgan Stanley upped their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Fidelity National Information Services currently has an average rating of Moderate Buy and an average target price of $74.63.

Fidelity National Information Services Price Performance

Shares of FIS stock opened at $74.31 on Tuesday. The stock has a 50-day moving average price of $70.79 and a 200 day moving average price of $62.91. Fidelity National Information Services has a 12 month low of $46.91 and a 12 month high of $75.71. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of -6.61, a PEG ratio of 0.88 and a beta of 0.98. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Research analysts expect that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Fidelity National Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of large investors have recently made changes to their positions in FIS. Manchester Capital Management LLC boosted its stake in Fidelity National Information Services by 6.8% in the 1st quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock valued at $166,000 after purchasing an additional 143 shares during the period. Brown Brothers Harriman & Co. increased 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 worth $79,000 after acquiring an additional 166 shares during the period. CKW Financial Group raised its stake in Fidelity National Information Services by 10.5% in the 1st quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock worth $153,000 after purchasing an additional 200 shares in the last quarter. Penbrook Management LLC boosted its holdings in Fidelity National Information Services by 5.1% in the 1st quarter. Penbrook Management LLC now owns 4,124 shares of the information technology services provider’s stock valued at $306,000 after purchasing an additional 200 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of Fidelity National Information Services by 9.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 203 shares in 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.