Bank of America Initiates Coverage on Fidelity National Information Services (NYSE:FIS)

Key Points

• Bank of America initiated coverage of FIS with a “buy” rating and a $42 price target, implying 13.73% upside from the prior close.
• FIS shares rose 4.1% to $36.93, while analyst sentiment remained mixed: the stock has an average “hold” rating and a consensus price target of $49.92.
• Institutional ownership is substantial at 96.23%, with major investors including BlackRock, Barrow Hanley, Bank of America, and Legal & General establishing or increasing positions.

Equities researchers at Bank of America began coverage on shares of Fidelity National Information Services (NYSE:FIS - Get Free Report) in a research report issued on Thursday. The firm set a "buy" rating and a $42.00 price target on the information technology services provider's stock. Bank of America's price target would indicate a potential upside of 13.73% from the company's previous close.

Several other equities analysts have also recently issued reports on FIS. Wolfe Research upped their target price on shares of Fidelity National Information Services from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Tuesday, August 25th. Susquehanna decreased their price objective on shares of Fidelity National Information Services from $46.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday. National Bank Financial set a $50.00 price objective on shares of Fidelity National Information Services in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Fidelity National Information Services from $45.00 to $40.00 and set a "hold" rating on the stock in a research report on Tuesday, September 29th. Finally, TD Cowen dropped their target price on shares of Fidelity National Information Services from $53.00 to $47.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Eleven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $49.92.

Fidelity National Information Services Stock Up 4.1%

Shares of FIS traded up $1.46 on Thursday, hitting $36.93. 402,480 shares of the stock traded hands, compared to its average volume of 6,032,420. The company has a market capitalization of $19.09 billion, a PE ratio of 5.68, a P/E/G ratio of 0.37 and a beta of 0.81. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.53 and a current ratio of 0.53. The business has a 50 day simple moving average of $38.26 and a 200 day simple moving average of $41.38. Fidelity National Information Services has a one year low of $32.10 and a one year high of $68.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.01. The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.38 billion. Fidelity National Information Services had a net margin of 27.64% and a return on equity of 20.95%. The firm's revenue for the quarter was up 29.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS. Fidelity National Information Services has set its FY 2026 guidance at 6.150-6.240 EPS and its Q3 2026 guidance at 1.580-1.620 EPS. As a group, equities analysts forecast that Fidelity National Information Services will post 6.20 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidelity National Information Services

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Fidelity National Information Services in the 2nd quarter valued at about $1,730,200,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Fidelity National Information Services during the second quarter valued at approximately $219,162,000. Bank of America Corp DE purchased a new stake in Fidelity National Information Services during the second quarter valued at approximately $189,387,000. Legal & General Group Plc bought a new stake in shares of Fidelity National Information Services in the 2nd quarter valued at approximately $129,815,000. Finally, Perpetual Ltd lifted its stake in shares of Fidelity National Information Services by 32.9% in the 3rd quarter. Perpetual Ltd now owns 3,262,131 shares of the information technology services provider's stock valued at $107,324,000 after purchasing an additional 807,482 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company's stock.

About Fidelity National Information Services

Fidelity National Information Services, Inc NYSE: FIS is a global financial technology company that provides software, payments, and transaction-processing solutions to financial institutions, businesses, and other organizations. Its offerings help clients manage banking operations, digital accounts, payments, risk, compliance, and customer relationships.

FIS provides core processing and digital banking platforms, payment processing and merchant solutions, fraud and security tools, and technology for lending, wealth management, and capital markets.

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