Fidelity National Information Services (NYSE:FIS) Given New $96.00 Price Target at Bank of America

Fidelity National Information Services (NYSE:FIS) had its price target raised by Bank of America from $90.00 to $96.00 in a research report report published on Tuesday morning, Benzinga reports. Bank of America currently has a buy rating on the information technology services provider’s stock.

Several other analysts have also recently commented on FIS. Barclays raised their price target on shares of Fidelity National Information Services from $88.00 to $90.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their target price on shares of Fidelity National Information Services from $93.00 to $95.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. TD Cowen lifted their target price on shares of Fidelity National Information Services from $75.00 to $78.00 and gave the company a hold rating in a research note on Wednesday, August 7th. Morgan Stanley cut shares of Fidelity National Information Services from an overweight rating to an equal weight rating and set a $79.00 target price for the company. in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Fidelity National Information Services from $85.00 to $88.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $81.25.

Fidelity National Information Services Stock Performance

FIS stock opened at $85.04 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $47.30 billion, a P/E ratio of -8.31, a P/E/G ratio of 0.82 and a beta of 1.08. The firm has a 50 day simple moving average of $78.65 and a 200 day simple moving average of $75.27. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $85.63.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.23 by $0.13. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. Research analysts anticipate that Fidelity National Information Services will post 5.08 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Fidelity National Information Services’s dividend payout ratio is -14.08%.

Insider Activity

In other news, Director Jeffrey A. Goldstein bought 719 shares of the stock in a transaction dated Monday, July 15th. The shares were acquired at an average price of $76.81 per share, with a total value of $55,226.39. Following the acquisition, the director now owns 9,771 shares in the company, valued at $750,510.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Several large investors have recently made changes to their positions in FIS. Linden Thomas Advisory Services LLC bought a new stake in Fidelity National Information Services during the 2nd quarter worth about $1,253,000. Quest Partners LLC bought a new position in shares of Fidelity National Information Services in the 4th quarter valued at about $653,000. SG Americas Securities LLC boosted its stake in shares of Fidelity National Information Services by 572.2% in the 2nd quarter. SG Americas Securities LLC now owns 222,601 shares of the information technology services provider’s stock valued at $16,775,000 after purchasing an additional 189,484 shares during the last quarter. Cibc World Markets Corp raised its position in shares of Fidelity National Information Services by 19.1% in the 4th quarter. Cibc World Markets Corp now owns 747,428 shares of the information technology services provider’s stock valued at $44,898,000 after acquiring an additional 119,974 shares during the period. Finally, Parnassus Investments LLC raised its position in shares of Fidelity National Information Services by 15.3% in the 4th quarter. Parnassus Investments LLC now owns 4,522,916 shares of the information technology services provider’s stock valued at $271,692,000 after acquiring an additional 598,902 shares during the period. Institutional investors own 96.23% of the company’s stock.

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.