Fidelity National Information Services (NYSE:FIS) Price Target Cut to $34.00 by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut its FIS price target to $34 from $45 but maintained an overweight rating, implying 18.61% upside from the then-current share price.
• Analyst sentiment overall was mixed but leaned cautious: MarketBeat reported an average Hold rating and a $41.76 average target, while six analysts rated the stock Buy, 18 Hold, and two Sell.
• FIS reported quarterly results slightly above expectations, with EPS of $1.61 versus $1.60 forecast and revenue of $3.45 billion versus $3.43 billion expected; revenue rose 27.1% year over year.

Fidelity National Information Services (NYSE:FIS - Get Free Report) had its price objective reduced by stock analysts at Cantor Fitzgerald from $45.00 to $34.00 in a report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the information technology services provider's stock. Cantor Fitzgerald's target price would indicate a potential upside of 18.61% from the company's current price.

Several other equities analysts also recently commented on the company. Robert W. Baird lowered their price target on Fidelity National Information Services from $48.00 to $45.00 and set a "neutral" rating on the stock in a report on Friday, September 25th. William Blair cut shares of Fidelity National Information Services from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 4th. Barclays decreased their price objective on shares of Fidelity National Information Services from $38.00 to $30.00 and set an "equal weight" rating for the company in a report on Thursday. Susquehanna lowered their target price on shares of Fidelity National Information Services from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group dropped their target price on shares of Fidelity National Information Services from $44.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday. Six analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $41.76.

Fidelity National Information Services Trading Down 0.2%

Shares of NYSE:FIS opened at $28.66 on Monday. The stock has a market capitalization of $14.78 billion, a PE ratio of 4.28, a P/E/G ratio of 0.36 and a beta of 0.84. Fidelity National Information Services has a 1 year low of $28.39 and a 1 year high of $68.37. The firm has a fifty day moving average price of $36.23 and a 200 day moving average price of $43.15. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $3.45 billion during the quarter, compared to analysts' expectations of $3.43 billion. Fidelity National Information Services had a return on equity of 20.42% and a net margin of 26.77%. The business's quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Analysts expect that Fidelity National Information Services will post 5.85 EPS for the current fiscal year.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey Goldstein purchased 1,585 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was bought at an average cost of $36.40 per share, for a total transaction of $57,694.00. Following the completion of the acquisition, the director directly owned 18,697 shares in the company, valued at $680,570.80. This represents a 9.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

Hedge Funds Weigh In On Fidelity National Information Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC increased its position in shares of Fidelity National Information Services by 4.8% during the second quarter. Dynamic Advisor Solutions LLC now owns 6,316 shares of the information technology services provider's stock worth $246,000 after acquiring an additional 290 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Fidelity National Information Services by 4.7% during the third quarter. Signaturefd LLC now owns 6,802 shares of the information technology services provider's stock worth $224,000 after acquiring an additional 303 shares during the period. Bleakley Financial Group LLC lifted its position in Fidelity National Information Services by 0.3% in the 1st quarter. Bleakley Financial Group LLC now owns 115,095 shares of the information technology services provider's stock valued at $5,399,000 after acquiring an additional 328 shares in the last quarter. GAMMA Investing LLC lifted its position in Fidelity National Information Services by 4.7% in the 3rd quarter. GAMMA Investing LLC now owns 7,772 shares of the information technology services provider's stock valued at $256,000 after acquiring an additional 349 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Fidelity National Information Services by 9.1% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,338 shares of the information technology services provider's stock worth $203,000 after purchasing an additional 361 shares during the period. Institutional investors own 96.23% of the company's stock.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc (FIS) provides financial technology and services to banks, credit unions, capital markets firms and other financial institutions. Its offerings include systems for processing transactions, managing accounts and supporting day-to-day financial operations.

The company's products and services also cover digital banking, payments, risk management, regulatory compliance, treasury operations and capital markets activities such as trading and securities processing.

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