Fidelity National Information Services (NYSE:FIS) Price Target Increased to $80.00 by Analysts at Evercore ISI

Fidelity National Information Services (NYSE:FIS - Get Free Report) had its price target upped by equities researchers at Evercore ISI from $75.00 to $80.00 in a report released on Tuesday, Benzinga reports. The firm presently has an "in-line" rating on the information technology services provider's stock. Evercore ISI's price objective would suggest a potential upside of 7.66% from the company's current price.

Other analysts have also recently issued research reports about the company. TheStreet raised Fidelity National Information Services from a "d" rating to a "c" rating in a research report on Monday, February 26th. Stephens reaffirmed an "overweight" rating and set a $90.00 target price on shares of Fidelity National Information Services in a research report on Tuesday. Truist Financial lifted their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a "hold" rating in a research report on Tuesday, February 27th. Mizuho upped their price objective on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an "overweight" rating in a report on Friday, February 23rd. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $74.63.

Fidelity National Information Services Stock Up 5.5 %

Shares of NYSE FIS traded up $3.86 during trading hours on Tuesday, hitting $74.31. The stock had a trading volume of 9,539,565 shares, compared to its average volume of 4,470,815. The firm's 50-day moving average price is $70.64 and its two-hundred day moving average price is $62.74. Fidelity National Information Services has a 52 week low of $46.91 and a 52 week high of $75.71. The company has a market capitalization of $41.73 billion, a P/E ratio of -6.61, a P/E/G ratio of 0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last posted its earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.96 by $0.14. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. Analysts anticipate that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services declared that its Board of Directors has approved a stock repurchase program on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the stock in a transaction dated Monday, April 15th. The stock was bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the purchase, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Fidelity National Information Services

A number of hedge funds and other institutional investors have recently modified their holdings of FIS. Vanguard Group Inc. increased its stake in shares of Fidelity National Information Services by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider's stock valued at $3,199,306,000 after buying an additional 6,503,451 shares during the period. FIL Ltd increased its position in Fidelity National Information Services by 27.3% in the fourth quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider's stock worth $773,552,000 after purchasing an additional 2,758,049 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Fidelity National Information Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider's stock worth $506,753,000 after purchasing an additional 121,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Fidelity National Information Services by 6.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider's stock valued at $505,956,000 after purchasing an additional 537,180 shares during the period. Finally, Norges Bank bought a new position in shares of Fidelity National Information Services in the 4th quarter valued at about $478,594,000. Institutional investors and hedge funds own 96.23% of the company's stock.

Fidelity National Information Services Company Profile

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.