Fidelity National Information Services (NYSE:FIS) Upgraded to “Buy” at TD Cowen

TD Cowen upgraded shares of Fidelity National Information Services (NYSE:FIS) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. TD Cowen currently has $92.00 price target on the information technology services provider’s stock.

FIS has been the topic of a number of other reports. UBS Group lowered their price target on Fidelity National Information Services from $94.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on shares of Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Barclays decreased their price objective on shares of Fidelity National Information Services from $102.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Robert W. Baird boosted their target price on Fidelity National Information Services from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 4th. Finally, Keefe, Bruyette & Woods decreased their price target on Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Fidelity National Information Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.29.

Fidelity National Information Services Stock Up 0.4 %

FIS stock opened at $79.44 on Monday. The stock has a market cap of $42.08 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The firm’s 50-day simple moving average is $71.86 and its 200 day simple moving average is $79.61. Fidelity National Information Services has a fifty-two week low of $66.51 and a fifty-two week high of $91.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 17.30% and a net margin of 14.54%. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, sell-side analysts predict that Fidelity National Information Services will post 5.74 EPS for the current year.

Fidelity National Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.01%. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, March 11th. Fidelity National Information Services’s payout ratio is presently 61.30%.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 844 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average cost of $72.04 per share, with a total value of $60,801.76. Following the completion of the transaction, the director now owns 11,942 shares of the company’s stock, valued at approximately $860,301.68. This represents a 7.60 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

A number of institutional investors have recently bought and sold shares of FIS. Morse Asset Management Inc purchased a new position in Fidelity National Information Services during the third quarter valued at approximately $37,000. Anchor Investment Management LLC increased its stake in shares of Fidelity National Information Services by 1,240.5% in the third quarter. Anchor Investment Management LLC now owns 1,756 shares of the information technology services provider’s stock worth $147,000 after acquiring an additional 1,625 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of Fidelity National Information Services by 2,063.1% during the third quarter. World Investment Advisors LLC now owns 70,971 shares of the information technology services provider’s stock worth $5,944,000 after acquiring an additional 67,690 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Fidelity National Information Services during the third quarter valued at $976,000. Finally, Synovus Financial Corp grew its stake in Fidelity National Information Services by 68.1% in the third quarter. Synovus Financial Corp now owns 15,676 shares of the information technology services provider’s stock valued at $1,313,000 after purchasing an additional 6,349 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

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.