JPMorgan Chase & Co. Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $80.00

Fidelity National Information Services (NYSE:FIS) had its price target reduced by JPMorgan Chase & Co. from $85.00 to $80.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the information technology services provider’s stock.

FIS has been the subject of a number of other research reports. Citigroup raised Fidelity National Information Services to a “hold” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods reduced their target price on Fidelity National Information Services from $88.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. KeyCorp reissued a “hold” rating on shares of Fidelity National Information Services in a research report on Wednesday, October 22nd. Truist Financial cut their price target on shares of Fidelity National Information Services from $75.00 to $72.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Finally, UBS Group increased their price objective on shares of Fidelity National Information Services from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.53.

Fidelity National Information Services Price Performance

FIS opened at $64.72 on Thursday. Fidelity National Information Services has a twelve month low of $59.51 and a twelve month high of $89.57. The firm has a market cap of $33.81 billion, a price-to-earnings ratio of 359.56 and a beta of 1.01. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $66.31 and a 200 day simple moving average of $73.88.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Wednesday, November 5th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. Fidelity National Information Services had a net margin of 1.09% and a return on equity of 18.73%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 EPS. Fidelity National Information Services has set its FY 2025 guidance at 5.740-5.780 EPS. Equities research analysts expect that Fidelity National Information Services will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, December 9th. Fidelity National Information Services’s payout ratio is currently 888.89%.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 889 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were bought at an average cost of $67.66 per share, with a total value of $60,149.74. Following the completion of the acquisition, the director owned 13,588 shares of the company’s stock, valued at approximately $919,364.08. This trade represents a 7.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Fidelity National Information Services by 0.6% in the second quarter. Vanguard Group Inc. now owns 63,019,323 shares of the information technology services provider’s stock valued at $5,130,403,000 after acquiring an additional 376,499 shares during the period. Dodge & Cox lifted its holdings in shares of Fidelity National Information Services by 1.3% in the 2nd quarter. Dodge & Cox now owns 35,274,497 shares of the information technology services provider’s stock worth $2,871,697,000 after purchasing an additional 466,199 shares during the last quarter. Geode Capital Management LLC boosted its position in Fidelity National Information Services by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 13,288,097 shares of the information technology services provider’s stock valued at $1,077,157,000 after purchasing an additional 48,968 shares during the period. Boston Partners grew its stake in Fidelity National Information Services by 10.5% during the 2nd quarter. Boston Partners now owns 11,820,211 shares of the information technology services provider’s stock worth $958,537,000 after buying an additional 1,122,181 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Fidelity National Information Services by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 10,712,794 shares of the information technology services provider’s stock worth $800,032,000 after buying an additional 419,199 shares during the period. Institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Company Profile

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.