Fidelity National Information Servcs (FIS) Given New $135.00 Price Target at Barclays

Fidelity National Information Servcs (NYSE:FIS) had its price objective raised by Barclays from $129.00 to $135.00 in a research note released on Wednesday morning, The Fly reports. They currently have an overweight rating on the information technology services provider’s stock.

FIS has been the subject of a number of other reports. Keefe, Bruyette & Woods assumed coverage on shares of Fidelity National Information Servcs in a report on Monday. They set an outperform rating and a $136.00 price target for the company. Cantor Fitzgerald restated a buy rating and issued a $122.00 target price on shares of Fidelity National Information Servcs in a report on Tuesday, April 2nd. Goldman Sachs Group upgraded shares of Fidelity National Information Servcs from a neutral rating to a buy rating and boosted their target price for the company from $108.00 to $128.00 in a report on Tuesday, December 11th. Zacks Investment Research downgraded shares of Fidelity National Information Servcs from a hold rating to a sell rating in a report on Wednesday, January 9th. Finally, William Blair restated an outperform rating on shares of Fidelity National Information Servcs in a report on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Fidelity National Information Servcs currently has a consensus rating of Buy and a consensus price target of $124.30.

Shares of NYSE FIS traded down $0.41 during midday trading on Wednesday, reaching $111.97. 241,685 shares of the stock were exchanged, compared to its average volume of 4,767,991. The company has a market cap of $36.29 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. Fidelity National Information Servcs has a 52-week low of $93.87 and a 52-week high of $115.56. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19.

Fidelity National Information Servcs (NYSE:FIS) last issued its quarterly earnings results on Tuesday, February 12th. The information technology services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.22 billion. Fidelity National Information Servcs had a net margin of 10.06% and a return on equity of 16.71%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, analysts anticipate that Fidelity National Information Servcs will post 7.42 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Fidelity National Information Servcs’s previous quarterly dividend of $0.32. Fidelity National Information Servcs’s payout ratio is 26.77%.

In other news, CEO Gary Norcross sold 160,000 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $108.81, for a total value of $17,409,600.00. Following the transaction, the chief executive officer now owns 249,434 shares in the company, valued at approximately $27,140,913.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandar Navab, Jr. bought 5,075 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average price of $107.22 per share, for a total transaction of $544,141.50. Following the acquisition, the director now directly owns 5,075 shares in the company, valued at $544,141.50. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 282,842 shares of company stock valued at $30,621,347. 2.08% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. DNB Asset Management AS lifted its position in Fidelity National Information Servcs by 27.3% in the first quarter. DNB Asset Management AS now owns 50,825 shares of the information technology services provider’s stock worth $5,748,000 after purchasing an additional 10,913 shares during the period. Pacer Advisors Inc. boosted its holdings in Fidelity National Information Servcs by 32,609.5% during the first quarter. Pacer Advisors Inc. now owns 27,476 shares of the information technology services provider’s stock worth $3,107,000 after buying an additional 27,392 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Fidelity National Information Servcs by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 49,324 shares of the information technology services provider’s stock worth $5,576,000 after buying an additional 301 shares during the last quarter. UNIVEST FINANCIAL Corp boosted its holdings in Fidelity National Information Servcs by 8.9% during the first quarter. UNIVEST FINANCIAL Corp now owns 2,282 shares of the information technology services provider’s stock worth $258,000 after buying an additional 187 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in Fidelity National Information Servcs by 5.2% during the first quarter. Huntington National Bank now owns 2,103 shares of the information technology services provider’s stock worth $238,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

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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