TD Cowen Increases Fidelity National Information Services (NYSE:FIS) Price Target to $75.00

Fidelity National Information Services (NYSE:FIS) had its price objective boosted by research analysts at TD Cowen from $70.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the information technology services provider’s stock. TD Cowen’s price target would suggest a potential upside of 2.00% from the company’s current price.

FIS has been the topic of several other reports. Keefe, Bruyette & Woods raised their target price on Fidelity National Information Services from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday. Wedbush restated an “outperform” rating and issued a $75.00 target price on shares of Fidelity National Information Services in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They set a “buy” rating and a $84.00 price objective for the company. Truist Financial raised their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Finally, Robert W. Baird boosted their target price on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.79.

Fidelity National Information Services Stock Down 1.0 %

FIS traded down $0.78 during trading on Wednesday, reaching $73.53. 2,693,292 shares of the stock traded hands, compared to its average volume of 4,448,050. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $75.71. The stock’s 50-day simple moving average is $70.79 and its two-hundred day simple moving average is $62.91. The stock has a market cap of $41.29 billion, a price-to-earnings ratio of -6.51, 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 results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, equities research analysts expect that Fidelity National Information Services will post 4.71 EPS for the current year.

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

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were purchased at an average price of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Hedge funds have recently added to or reduced their stakes in the company. Baron Wealth Management LLC grew its holdings in Fidelity National Information Services by 41.0% during the 1st quarter. Baron Wealth Management LLC now owns 5,251 shares of the information technology services provider’s stock worth $390,000 after acquiring an additional 1,526 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Fidelity National Information Services by 9.7% during the first quarter. Avantax Advisory Services Inc. now owns 39,050 shares of the information technology services provider’s stock worth $2,897,000 after purchasing an additional 3,453 shares during the period. QRG Capital Management Inc. increased its holdings in Fidelity National Information Services by 8.5% in the first quarter. QRG Capital Management Inc. now owns 33,938 shares of the information technology services provider’s stock valued at $2,518,000 after purchasing an additional 2,664 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its stake in Fidelity National Information Services by 3.3% in the first quarter. Williams Jones Wealth Management LLC. now owns 6,913 shares of the information technology services provider’s stock valued at $513,000 after buying an additional 220 shares during the period. Finally, Donoghue Forlines LLC acquired a new position in shares of Fidelity National Information Services during the 1st quarter worth about $677,000. 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.