Shares of Fidelity National Information Services, Inc. (NYSE:FIS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-two research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $79.32.
FIS has been the topic of several research reports. Barclays upped their target price on Fidelity National Information Services from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, May 9th. Mizuho upped their target price on Fidelity National Information Services from $76.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, May 9th. Morgan Stanley increased their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Bank of America increased their price target on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Finally, Truist Financial increased their price target on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a "hold" rating in a research report on Tuesday, February 27th.
Get Our Latest Analysis on FIS
Fidelity National Information Services Price Performance
NYSE:FIS opened at $76.57 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.59. The stock's 50 day moving average price is $73.96 and its two-hundred day moving average price is $67.56. The firm has a market capitalization of $42.59 billion, a price-to-earnings ratio of -7.48, a P/E/G ratio of 0.79 and a beta of 1.05. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $78.73.
Fidelity National Information Services (NYSE:FIS - Get Free Report) last posted its earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. Fidelity National Information Services had a positive return on equity of 13.91% and a negative net margin of 54.14%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts anticipate that Fidelity National Information Services will post 4.96 earnings per share for the current year.
Fidelity National Information Services declared that its Board of Directors has approved a share buyback plan on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.
Fidelity National Information Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services's payout ratio is -14.08%.
Insider Activity
In other news, Director Jeffrey A. Goldstein purchased 775 shares of the company's stock in a transaction dated Monday, April 15th. The stock was bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now owns 9,052 shares of the company's stock, valued at $655,093.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Fidelity National Information Services by 19.1% during the 1st quarter. Vanguard Group Inc. now owns 68,658,572 shares of the information technology services provider's stock worth $5,093,093,000 after purchasing an additional 11,023,109 shares during the last quarter. FIL Ltd raised its position in Fidelity National Information Services by 27.3% during the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider's stock worth $773,552,000 after purchasing an additional 2,758,049 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Fidelity National Information Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider's stock worth $506,753,000 after purchasing an additional 121,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Fidelity National Information Services by 6.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider's stock worth $505,956,000 after purchasing an additional 537,180 shares during the last quarter. Finally, Norges Bank bought a new position in Fidelity National Information Services during the 4th quarter worth $478,594,000. 96.23% of the stock is owned by institutional investors.
About Fidelity National Information Services
(Get Free Report
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.
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