Stephens Reiterates “Overweight” Rating for Fidelity National Information Services (NYSE:FIS)

Fidelity National Information Services (NYSE:FIS)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a research report issued on Tuesday, Benzinga reports. They currently have a $90.00 price target on the information technology services provider’s stock. Stephens’ price target points to a potential upside of 21.54% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley increased their target price on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Bank of America upped their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Evercore ISI boosted their price objective on Fidelity National Information Services from $62.00 to $75.00 and gave the company an “in-line” rating in a research report on Tuesday, April 30th. TheStreet upgraded Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Finally, BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.

Fidelity National Information Services Trading Down 0.3 %

NYSE:FIS opened at $74.05 on Tuesday. Fidelity National Information Services has a one year low of $46.91 and a one year high of $75.71. The business’s 50-day simple moving average is $70.79 and its 200 day simple moving average is $62.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of -6.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its board has approved a share repurchase program on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the stock in a transaction dated Monday, April 15th. The shares were acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the acquisition, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new stake in shares of Fidelity National Information Services during the third quarter worth $25,000. Baystate Wealth Management LLC raised its stake in shares of Fidelity National Information Services by 332.1% during the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 372 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Fidelity National Information Services during the 4th quarter valued at about $29,000. Rise Advisors LLC bought a new stake in shares of Fidelity National Information Services in the 1st quarter valued at approximately $29,000. Finally, Delta Asset Management LLC TN increased its holdings in Fidelity National Information Services by 600.0% in the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after buying an additional 450 shares during the last quarter. Hedge funds and other 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.