Truist Financial Boosts Fidelity National Information Services (NYSE:FIS) Price Target to $85.00

Fidelity National Information Services (NYSE:FIS) had its price objective boosted by Truist Financial from $84.00 to $85.00 in a research report released on Thursday morning,Benzinga reports. They currently have a hold rating on the information technology services provider’s stock.

Several other equities analysts have also recently issued reports on FIS. Citigroup raised Fidelity National Information Services from a “neutral” rating to a “buy” rating and upped their price objective for the company from $79.00 to $86.00 in a research report on Monday, April 21st. Stephens boosted their target price on shares of Fidelity National Information Services from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Robert W. Baird boosted their target price on shares of Fidelity National Information Services from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen upgraded shares of Fidelity National Information Services from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Monday, April 21st. Finally, Royal Bank Of Canada decreased their target price on shares of Fidelity National Information Services from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock opened at $80.31 on Thursday. The stock’s 50 day simple moving average is $80.10 and its two-hundred day simple moving average is $76.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $42.19 billion, a price-to-earnings ratio of 53.19 and a beta of 1.06. Fidelity National Information Services has a fifty-two week low of $66.51 and a fifty-two week high of $91.98.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Fidelity National Information Services had a return on equity of 18.15% and a net margin of 8.10%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts expect that Fidelity National Information Services will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, June 10th. Fidelity National Information Services’s payout ratio is 105.96%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Fidelity National Information Services in the fourth quarter worth about $635,202,000. Baupost Group LLC MA purchased a new position in Fidelity National Information Services during the first quarter valued at approximately $260,853,000. Nuveen LLC purchased a new position in Fidelity National Information Services during the first quarter valued at approximately $187,514,000. Invesco Ltd. increased its holdings in Fidelity National Information Services by 22.9% during the first quarter. Invesco Ltd. now owns 9,304,011 shares of the information technology services provider’s stock valued at $694,824,000 after buying an additional 1,730,878 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Fidelity National Information Services by 100.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider’s stock valued at $261,037,000 after buying an additional 1,616,146 shares during the period. 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.