Fidelity National Information Services (NYSE:FIS) Rating Lowered to Market Perform at Oppenheimer

Fidelity National Information Services (NYSE:FIS) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, Briefing.com reports.

FIS has been the subject of several other reports. UBS Group reiterated a “neutral” rating on shares of Fidelity National Information Services in a research note on Monday, September 21st. Truist Financial lowered their target price on shares of Fidelity National Information Services from $43.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, October 23rd. Susquehanna cut their price target on Fidelity National Information Services from $46.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Keefe, Bruyette & Woods reduced their price target on Fidelity National Information Services from $60.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Finally, Barclays dropped their price objective on Fidelity National Information Services from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.96.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock traded down $9.60 during midday trading on Wednesday, hitting $29.39. 16,737,924 shares of the company were exchanged, compared to its average volume of 6,103,881. The firm has a market capitalization of $15.19 billion, a PE ratio of 4.54, a price-to-earnings-growth ratio of 0.47 and a beta of 0.84. Fidelity National Information Services has a fifty-two week low of $29.39 and a fifty-two week high of $68.37. The business has a fifty day simple moving average of $36.91 and a two-hundred day simple moving average of $43.64. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.53 and a current ratio of 0.53.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. Fidelity National Information Services had a return on equity of 20.95% and a net margin of 27.64%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the business earned $1.51 earnings per share. Fidelity National Information Services’s quarterly revenue was up 27.1% on a year-over-year basis. On average, sell-side analysts forecast that Fidelity National Information Services will post 6.20 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey Goldstein bought 1,585 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was acquired at an average price of $36.40 per share, with a total value of $57,694.00. Following the completion of the purchase, the director directly owned 18,697 shares of the company’s stock, valued at approximately $680,570.80. This trade represents a 9.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Fidelity National Information Services during the third quarter valued at approximately $35,000. N.E.W. Advisory Services LLC acquired a new stake in Fidelity National Information Services during the 2nd quarter worth $58,000. Bank & Trust Co purchased a new stake in shares of Fidelity National Information Services during the third quarter worth $51,000. Pinnacle Wealth Planning Services Inc. raised its position in shares of Fidelity National Information Services by 96.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,976 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 972 shares during the last quarter. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of Fidelity National Information Services in the third quarter valued at about $71,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc (NYSE:FIS) is a global financial technology company that provides software, services and technology infrastructure to banks, financial institutions, merchants and other businesses. Its solutions are designed to support transaction processing, digital banking, payments, risk management and other essential financial operations.

FIS offers core banking and digital banking platforms, card and payment processing services, fraud and financial crime prevention tools, and technologies that help financial institutions manage accounts, lending and other banking activities.