Fidelity National Information Servcs Inc (FIS) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Fidelity National Information Servcs Inc (NYSE:FIS) from a sell rating to a hold rating in a research report released on Thursday, May 4th.

According to Zacks, “Fidelity National Information Services shares underperformed the Zacks categorized Financial Transaction Services industry, over the past six months.  The company’s first-quarter 2017 adjusted earnings from continuing operations surpassed the Zacks Consensus Estimate on higher revenues. Though we remain cautious owing to several issues, including the ongoing consolidation in the banking sector and stiff competition, the company remains well positioned for growth backed by its attractive core business with a recurring revenue model, diversified product portfolio, benefits from strategic acquisitions, as well as several ongoing strategic initiatives. Moreover, cost-control efforts are also commendable. It anticipates 2017 adjusted earnings per share in the band of $4.15–$4.30, reflecting an increase of 9–13% year over year and cost synergies to exceed $300 million.”

Several other equities research analysts also recently commented on FIS. BMO Capital Markets initiated coverage on Fidelity National Information Servcs in a report on Thursday, January 5th. They set an outperform rating and a $92.00 target price on the stock. Oppenheimer Holdings Inc. restated an outperform rating and set a $85.00 price objective on shares of Fidelity National Information Servcs in a report on Sunday, January 15th. Cantor Fitzgerald set a $89.00 target price on Fidelity National Information Servcs and gave the company a buy rating in a research note on Tuesday, February 7th. Barclays PLC began coverage on Fidelity National Information Servcs in a research note on Wednesday, February 8th. They issued an overweight rating and a $91.00 target price on the stock. Finally, Credit Suisse Group AG upgraded Fidelity National Information Servcs from a neutral rating to an outperform rating and set a $88.00 price target for the company in a research note on Wednesday, February 8th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $88.17.

Shares of Fidelity National Information Servcs (NYSE:FIS) traded up 0.47% during trading on Thursday, hitting $83.20. The stock had a trading volume of 1,330,016 shares. The company has a market cap of $27.50 billion, a P/E ratio of 42.47 and a beta of 0.84. Fidelity National Information Servcs has a one year low of $68.03 and a one year high of $84.97. The stock’s 50-day moving average price is $82.11 and its 200-day moving average price is $79.62.

Fidelity National Information Servcs (NYSE:FIS) last announced its earnings results on Tuesday, May 2nd. The information technology services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. Fidelity National Information Servcs had a return on equity of 13.03% and a net margin of 6.15%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, equities research analysts forecast that Fidelity National Information Servcs will post $4.27 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, June 14th. Fidelity National Information Servcs’s dividend payout ratio (DPR) is currently 60.12%.

In related news, Director Frank R. Martire sold 305,500 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $81.96, for a total transaction of $25,038,780.00. Following the sale, the director now owns 99,633 shares of the company’s stock, valued at approximately $8,165,920.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James W. Woodall sold 70,667 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $83.02, for a total value of $5,866,774.34. Following the sale, the executive vice president now directly owns 133,509 shares in the company, valued at approximately $11,083,917.18. The disclosure for this sale can be found here. In the last three months, insiders sold 1,382,349 shares of company stock worth $113,560,258. 2.29% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake in shares of Fidelity National Information Servcs by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,266 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 9 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its stake in shares of Fidelity National Information Servcs by 3.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,301 shares of the information technology services provider’s stock valued at $104,000 after buying an additional 45 shares during the last quarter. Financial Architects Inc increased its stake in shares of Fidelity National Information Servcs by 0.7% in the first quarter. Financial Architects Inc now owns 1,327 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 9 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Fidelity National Information Servcs by 21.6% in the fourth quarter. Bessemer Group Inc. now owns 1,329 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 236 shares during the last quarter. Finally, North Star Investment Management Corp. increased its stake in Fidelity National Information Servcs by 5.4% in the first quarter. North Star Investment Management Corp. now owns 1,457 shares of the information technology services provider’s stock valued at $116,000 after buying an additional 75 shares in the last quarter. 87.30% of the stock is currently owned by institutional investors and hedge funds.

About Fidelity National Information Servcs

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

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