Sanford C. Bernstein Has Lowered Expectations for Fidelity National Information Services (NYSE:FIS) Stock Price

Key Points

• Sanford C. Bernstein cut its FIS price target from $48 to $31 and kept a “market perform” rating, implying just 2.65% upside from the stock’s then-current price of $30.20.
• Analyst opinion is broadly cautious: MarketBeat’s consensus rating is “Hold,” based on six Buy, 19 Hold and three Sell ratings; the average price target is $41.35.
• FIS slightly beat quarterly expectations, reporting $1.61 in adjusted earnings per share versus $1.60 expected and $3.45 billion in revenue versus $3.43 billion expected. Revenue rose 27.1% year over year.

Fidelity National Information Services (NYSE:FIS - Get Free Report) had its price target lowered by equities research analysts at Sanford C. Bernstein from $48.00 to $31.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a "market perform" rating on the information technology services provider's stock. Sanford C. Bernstein's price objective points to a potential upside of 2.65% from the stock's current price.

Several other research firms have also commented on FIS. Robert W. Baird dropped their target price 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. Zacks Research downgraded Fidelity National Information Services from a "hold" rating to a "strong sell" rating in a report on Friday, November 6th. Oppenheimer lowered Fidelity National Information Services from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods dropped their price objective on shares of Fidelity National Information Services from $50.00 to $42.00 and set an "outperform" rating on the stock in a research note on Thursday, November 5th. Finally, Bank of America lowered shares of Fidelity National Information Services from a "buy" rating to a "neutral" rating and cut their target price for the company from $42.00 to $33.00 in a report on Thursday, November 5th. Six analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Fidelity National Information Services presently has a consensus rating of "Hold" and an average target price of $41.35.

Fidelity National Information Services Stock Performance

Shares of Fidelity National Information Services stock traded up $1.89 during trading on Wednesday, hitting $30.20. 7,048,121 shares of the company's stock were exchanged, compared to its average volume of 6,330,687. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.55 and a current ratio of 0.55. The business has a 50-day simple moving average of $35.72 and a 200-day simple moving average of $42.82. Fidelity National Information Services has a 52-week low of $27.93 and a 52-week high of $68.37. The stock has a market capitalization of $15.57 billion, a price-to-earnings ratio of 4.49, a PEG ratio of 0.35 and a beta of 0.84.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.60 by $0.01. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. Fidelity National Information Services had a net margin of 26.77% and a return on equity of 20.42%. The firm's revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 earnings per share. On average, research analysts forecast that Fidelity National Information Services will post 5.85 EPS for the current year.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey Goldstein purchased 1,585 shares of Fidelity National Information Services stock in a transaction that occurred on Thursday, October 15th. The stock was bought at an average price of $36.40 per share, with a total value of $57,694.00. Following the acquisition, the director owned 18,697 shares of the company's stock, valued at $680,570.80. This trade represents a 9.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kourtney Gibson purchased 1,800 shares of the stock in a transaction on Friday, November 6th. The shares were acquired at an average price of $29.00 per share, for a total transaction of $52,200.00. Following the transaction, the director directly owned 5,903 shares of the company's stock, valued at $171,187. This represents a 43.87% increase in their position. The SEC filing for this purchase provides additional information. 0.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Fidelity National Information Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Pension & Wealth Management Advisors Inc. acquired a new position in Fidelity National Information Services during the third quarter worth $35,000. First Command Advisory Services Inc. lifted its holdings in Fidelity National Information Services by 362.9% during the third quarter. First Command Advisory Services Inc. now owns 1,134 shares of the information technology services provider's stock valued at $37,000 after purchasing an additional 889 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Fidelity National Information Services in the third quarter valued at about $51,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Fidelity National Information Services in the second quarter valued at about $58,000. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in shares of Fidelity National Information Services by 96.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,976 shares of the information technology services provider's stock worth $65,000 after purchasing an additional 972 shares in the last quarter. Institutional investors and hedge funds 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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