Truist Financial Initiates Coverage on Fidelity National Information Services (NYSE:FIS)

Research analysts at Truist Financial began coverage on shares of Fidelity National Information Services (NYSE:FIS - Get Free Report) in a report released on Monday, Marketbeat Ratings reports. The firm set a "hold" rating and a $84.00 price target on the information technology services provider's stock. Truist Financial's price objective points to a potential upside of 4.37% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Barclays dropped their target price on shares of Fidelity National Information Services from $102.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. TD Cowen upgraded Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 target price for the company in a report on Monday, April 21st. Susquehanna downgraded Fidelity National Information Services from a "positive" rating to a "neutral" rating and dropped their price target for the stock from $103.00 to $81.00 in a research report on Wednesday, February 12th. Compass Point decreased their price objective on Fidelity National Information Services from $126.00 to $113.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Finally, Robert W. Baird increased their target price on shares of Fidelity National Information Services from $80.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.75.

Fidelity National Information Services Price Performance

FIS stock traded up $0.14 during trading on Monday, hitting $80.48. 786,487 shares of the company's stock traded hands, compared to its average volume of 3,460,156. The business has a fifty day simple moving average of $76.37 and a 200 day simple moving average of $77.59. Fidelity National Information Services has a 52 week low of $66.51 and a 52 week high of $91.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $42.28 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 1.23 and a beta of 1.08.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Fidelity National Information Services had a return on equity of 17.30% and a net margin of 14.54%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. As a group, research analysts expect that Fidelity National Information Services will post 5.74 EPS for the current fiscal year.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 844 shares of Fidelity National Information Services stock in a transaction that occurred on Tuesday, April 15th. The stock was bought at an average price of $72.04 per share, with a total value of $60,801.76. Following the acquisition, the director now owns 11,942 shares of the company's stock, valued at $860,301.68. This trade represents a 7.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in shares of Fidelity National Information Services during the 1st quarter worth about $49,289,000. Advisors Capital Management LLC lifted its stake in shares of Fidelity National Information Services by 4.1% in the first quarter. Advisors Capital Management LLC now owns 417,240 shares of the information technology services provider's stock worth $31,160,000 after buying an additional 16,257 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Fidelity National Information Services by 70.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,046 shares of the information technology services provider's stock valued at $78,000 after purchasing an additional 431 shares in the last quarter. Intech Investment Management LLC increased its position in Fidelity National Information Services by 15.0% during the first quarter. Intech Investment Management LLC now owns 46,588 shares of the information technology services provider's stock worth $3,479,000 after purchasing an additional 6,070 shares during the last quarter. Finally, Palogic Value Management L.P. lifted its stake in shares of Fidelity National Information Services by 8.5% in the 1st quarter. Palogic Value Management L.P. now owns 3,515 shares of the information technology services provider's stock valued at $262,000 after purchasing an additional 276 shares during the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

About Fidelity National Information Services

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.