Fidelity National Information Services (NYSE:FIS) Price Target Cut to $60.00

Fidelity National Information Services (NYSE:FIS – Get Rating) had its target price reduced by Jefferies Financial Group from $65.00 to $60.00 in a report released on Wednesday morning, The Fly reports.

Several other analysts have also recently commented on the stock. StockNews.com cut shares of Fidelity National Information Services from a hold rating to a sell rating in a research note on Tuesday, February 14th. Stephens reaffirmed an equal weight rating and issued a $80.00 price target on shares of Fidelity National Information Services in a report on Monday, February 13th. Mizuho cut their price target on Fidelity National Information Services from $90.00 to $78.00 and set a buy rating on the stock in a research report on Tuesday, February 21st. Royal Bank of Canada decreased their price objective on Fidelity National Information Services from $93.00 to $81.00 and set an outperform rating for the company in a report on Tuesday, February 14th. Finally, TheStreet downgraded Fidelity National Information Services from a c rating to a d rating in a research note on Monday, February 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $89.91.

Fidelity National Information Services Price Performance

FIS stock opened at $51.64 on Wednesday. The firm has a 50 day moving average of $67.70 and a 200 day moving average of $71.95. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.52. Fidelity National Information Services has a 52 week low of $49.14 and a 52 week high of $106.65.

Fidelity National Information Services (NYSE:FIS – Get Rating) last released its earnings results on Monday, February 13th. The information technology services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.01. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Fidelity National Information Services had a negative net margin of 115.07% and a positive return on equity of 9.71%. Fidelity National Information Services’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the business earned $1.92 EPS. Equities analysts predict that Fidelity National Information Services will post 5.88 EPS for the current fiscal year.

Fidelity National Information Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a dividend of $0.52 per share. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Thursday, March 9th. Fidelity National Information Services’s payout ratio is currently -7.37%.

Insider Transactions at Fidelity National Information Services

In other news, CFO Erik D. Hoag sold 5,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $63.88, for a total transaction of $361,433.04. Following the transaction, the chief financial officer now directly owns 16,368 shares in the company, valued at approximately $1,045,587.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jeffrey E. Stiefler purchased 2,243 shares of Fidelity National Information Services stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average price of $66.88 per share, with a total value of $150,011.84. Following the transaction, the director now owns 3,343 shares in the company, valued at $223,579.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Erik D. Hoag sold 5,658 shares of Fidelity National Information Services stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $63.88, for a total transaction of $361,433.04. Following the sale, the chief financial officer now directly owns 16,368 shares in the company, valued at approximately $1,045,587.84. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Several institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its position in shares of Fidelity National Information Services by 3.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 10,410 shares of the information technology services provider’s stock valued at $706,000 after buying an additional 329 shares during the period. Claro Advisors LLC raised its position in shares of Fidelity National Information Services by 33.8% during the 4th quarter. Claro Advisors LLC now owns 5,581 shares of the information technology services provider’s stock valued at $379,000 after buying an additional 1,410 shares during the period. North Star Asset Management Inc. raised its position in shares of Fidelity National Information Services by 1.8% during the 4th quarter. North Star Asset Management Inc. now owns 203,149 shares of the information technology services provider’s stock valued at $13,784,000 after buying an additional 3,530 shares during the period. Smithbridge Asset Management Inc. DE acquired a new stake in Fidelity National Information Services in the 4th quarter valued at approximately $1,716,000. Finally, Regal Investment Advisors LLC acquired a new stake in Fidelity National Information Services in the 4th quarter valued at approximately $1,635,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

About Fidelity National Information Services

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Fidelity National Information Services, Inc engages in the provision of technology solutions for financial institutions and businesses. It operates through the following segments: Banking, Merchant, Capital Markets, and Corporate and Other. The Banking segment focuses on serving financial institutions with core processing software, transaction processing software, and complementary applications and services.