Truist Financial Issues Pessimistic Forecast for Fidelity National Information Services (NYSE:FIS) Stock Price

Key Points

• Truist cut its FIS price target from $37 to $31 and maintained a Hold rating, implying 2.66% upside. Analysts overall also rate the stock Hold, with an average target of $41.12.
• FIS reported quarterly EPS of $1.61, slightly above estimates, while revenue of $3.45 billion topped expectations and rose 27.1% year over year.
• Two company directors recently bought shares: Kourtney Gibson acquired 1,800 shares, and Jeffrey Goldstein bought 1,585 shares.

Fidelity National Information Services (NYSE:FIS - Get Free Report) had its target price reduced by research analysts at Truist Financial from $37.00 to $31.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a "hold" rating on the information technology services provider's stock. Truist Financial's price objective indicates a potential upside of 2.66% from the company's current price.

A number of other brokerages have also issued reports on FIS. Barclays dropped their target price on shares of Fidelity National Information Services from $38.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 5th. Stephens began coverage on shares of Fidelity National Information Services in a research report on Tuesday, August 11th. They issued an "equal weight" rating and a $50.00 price target on the stock. Bank of America downgraded shares of Fidelity National Information Services from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $42.00 to $33.00 in a report on Thursday, November 5th. Raymond James Financial reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Fidelity National Information Services in a research report on Wednesday, November 4th. Finally, Citigroup reduced their target price on shares of Fidelity National Information Services from $39.00 to $30.00 and set a "neutral" rating for the company in a research note on Thursday, November 5th. Six investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.12.

Fidelity National Information Services Stock Up 6.7%

Shares of Fidelity National Information Services stock opened at $30.20 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average price of $35.51 and a two-hundred day moving average price of $42.67. The stock has a market capitalization of $15.57 billion, a P/E ratio of 4.51, a PEG ratio of 0.35 and a beta of 0.84. Fidelity National Information Services has a 12-month low of $27.93 and a 12-month high of $68.37.

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

Insider Buying and Selling

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

Institutional Trading of Fidelity National Information Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pension & Wealth Management Advisors Inc. acquired a new position in Fidelity National Information Services during the 3rd quarter worth about $35,000. First Command Advisory Services Inc. increased its position in Fidelity National Information Services by 362.9% in the 3rd quarter. First Command Advisory Services Inc. now owns 1,134 shares of the information technology services provider's stock valued at $37,000 after acquiring an additional 889 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Fidelity National Information Services in the 2nd quarter valued at about $58,000. Bank & Trust Co bought a new position in shares of Fidelity National Information Services in the third quarter worth about $51,000. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in shares of Fidelity National Information Services by 96.8% in 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 acquiring an additional 972 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

About Fidelity National Information Services

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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