Fidelity National Information Servcs (FIS) Price Target Cut to $120.00

Fidelity National Information Servcs (NYSE:FIS) had its price target lowered by Citigroup from $124.00 to $120.00 in a research note released on Wednesday. Citigroup currently has a buy rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently commented on FIS. Wolfe Research started coverage on Fidelity National Information Servcs in a research note on Tuesday, July 17th. They issued an outperform rating for the company. ValuEngine cut Fidelity National Information Servcs from a buy rating to a hold rating in a research note on Tuesday, July 31st. Cantor Fitzgerald increased their price target on Fidelity National Information Servcs to $117.00 and gave the company an overweight rating in a research note on Wednesday, August 1st. Zacks Investment Research upgraded Fidelity National Information Servcs from a hold rating to a buy rating and set a $115.00 price target for the company in a research note on Friday, August 3rd. Finally, SunTrust Banks increased their price target on Fidelity National Information Servcs to $125.00 and gave the company a buy rating in a research note on Monday, September 24th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $117.50.

Fidelity National Information Servcs stock traded down $0.30 during midday trading on Wednesday, reaching $103.65. The company’s stock had a trading volume of 1,229,906 shares, compared to its average volume of 1,876,796. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.38 and a current ratio of 1.34. Fidelity National Information Servcs has a 52-week low of $89.31 and a 52-week high of $110.83. The stock has a market cap of $33.94 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.65 and a beta of 0.91.

Fidelity National Information Servcs (NYSE:FIS) last released its quarterly earnings results on Tuesday, October 30th. The information technology services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. Fidelity National Information Servcs had a return on equity of 15.78% and a net margin of 17.89%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business posted $1.18 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Fidelity National Information Servcs will post 5.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, December 13th. Fidelity National Information Servcs’s dividend payout ratio is presently 28.96%.

In other news, Director Stephan A. James sold 23,922 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $108.97, for a total value of $2,606,780.34. Following the transaction, the director now directly owns 41,585 shares of the company’s stock, valued at $4,531,517.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David K. Hunt sold 17,922 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $106.38, for a total value of $1,906,542.36. Following the completion of the transaction, the director now directly owns 24,989 shares in the company, valued at $2,658,329.82. The disclosure for this sale can be found here. Insiders sold 46,129 shares of company stock worth $4,967,533 over the last three months. Corporate insiders own 2.08% of the company’s stock.

Several hedge funds have recently made changes to their positions in FIS. Moneta Group Investment Advisors LLC acquired a new position in shares of Fidelity National Information Servcs in the second quarter valued at about $114,000. Stratos Wealth Partners LTD. acquired a new position in shares of Fidelity National Information Servcs in the third quarter valued at about $114,000. Valeo Financial Advisors LLC grew its holdings in Fidelity National Information Servcs by 139.7% during the third quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the information technology services provider’s stock worth $117,000 after acquiring an additional 655 shares during the period. Price Capital Management Inc. acquired a new stake in Fidelity National Information Servcs during the third quarter worth about $120,000. Finally, Fort L.P. acquired a new stake in Fidelity National Information Servcs during the second quarter worth about $121,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Information Servcs Company Profile

Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.

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Analyst Recommendations for Fidelity National Information Servcs (NYSE:FIS)

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