Royal Bank of Canada Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $93.00

Fidelity National Information Services (NYSE:FIS) had its price objective reduced by Royal Bank of Canada from $95.00 to $93.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

FIS has been the subject of a number of other research reports. Oppenheimer raised Fidelity National Information Services from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research note on Wednesday, April 23rd. Susquehanna downgraded shares of Fidelity National Information Services from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $103.00 to $81.00 in a report on Wednesday, February 12th. Citigroup upgraded shares of Fidelity National Information Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $86.00 in a report on Monday, April 21st. Robert W. Baird upped their target price on shares of Fidelity National Information Services from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 4th. Finally, Stephens boosted their price objective on Fidelity National Information Services from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.11.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $78.36 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Fidelity National Information Services has a twelve month low of $66.51 and a twelve month high of $91.98. The company has a fifty day moving average of $73.85 and a 200-day moving average of $78.79. The firm has a market capitalization of $41.20 billion, a P/E ratio of 30.02, a P/E/G ratio of 1.23 and a beta of 1.08.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Fidelity National Information Services had a net margin of 14.54% and a return on equity of 17.30%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 earnings per share. As a group, sell-side analysts anticipate that Fidelity National Information Services will post 5.74 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. Fidelity National Information Services’s payout ratio is currently 105.96%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 844 shares of the stock in a transaction on Tuesday, April 15th. The shares were purchased at an average cost of $72.04 per share, for a total transaction of $60,801.76. Following the completion of the purchase, the director now directly owns 11,942 shares in the company, valued at $860,301.68. This represents a 7.60 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fidelity National Information Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sierra Ocean LLC increased its stake in shares of Fidelity National Information Services by 356.0% in the first quarter. Sierra Ocean LLC now owns 342 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Fidelity National Information Services by 92.1% during the 1st quarter. Meeder Asset Management Inc. now owns 342 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 164 shares during the period. YANKCOM Partnership lifted its position in shares of Fidelity National Information Services by 118.8% during the first quarter. YANKCOM Partnership now owns 350 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 190 shares in the last quarter. R Squared Ltd purchased a new position in shares of Fidelity National Information Services in the fourth quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Fidelity National Information Services by 179.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 389 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the period. 96.23% of the stock is currently owned by institutional investors.

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.