Fidelity National Information Services (NYSE:FIS) Lowered to “Outperform” Rating by Raymond James

Raymond James lowered shares of Fidelity National Information Services (NYSE:FIS) from a strong-buy rating to an outperform rating in a report published on Monday, Marketbeat.com reports. The firm currently has $101.00 price objective on the information technology services provider’s stock, down from their previous price objective of $115.00.

Several other equities research analysts have also recently issued reports on FIS. Robert W. Baird lifted their target price on Fidelity National Information Services from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Barclays increased their target price on Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Compass Point began coverage on shares of Fidelity National Information Services in a research report on Wednesday, November 20th. They issued a “buy” rating and a $126.00 price target on the stock. TD Cowen increased their price objective on shares of Fidelity National Information Services from $78.00 to $86.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, Stephens boosted their target price on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given 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 $92.19.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $78.86 on Monday. The stock has a 50-day moving average price of $84.91 and a 200 day moving average price of $82.13. The stock has a market capitalization of $42.45 billion, a P/E ratio of 31.42, a P/E/G ratio of 0.72 and a beta of 1.04. Fidelity National Information Services has a 12-month low of $58.24 and a 12-month high of $91.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.63.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings data on Monday, November 4th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.11. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Fidelity National Information Services will post 5.18 EPS for the current fiscal year.

Fidelity National Information Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 9th were issued a $0.36 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.83%. Fidelity National Information Services’s payout ratio is 57.37%.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein purchased 626 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average price of $88.25 per share, with a total value of $55,244.50. Following the transaction, the director now owns 10,397 shares of the company’s stock, valued at $917,535.25. This represents a 6.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lenore D. Williams sold 11,305 shares of Fidelity National Information Services stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $87.97, for a total value of $994,500.85. Following the completion of the sale, the executive vice president now owns 32,199 shares of the company’s stock, valued at $2,832,546.03. The trade was a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC increased its holdings in shares of Fidelity National Information Services by 94.1% in the 3rd quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 159 shares during the period. Kennebec Savings Bank purchased a new position in Fidelity National Information Services in the third quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in Fidelity National Information Services in the second quarter worth about $30,000. Concord Wealth Partners boosted its holdings in shares of Fidelity National Information Services by 50.2% in the 3rd quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock valued at $37,000 after buying an additional 146 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in shares of Fidelity National Information Services in the 3rd quarter worth approximately $37,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

About Fidelity National Information Services

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.