TD Cowen Increases Fidelity National Information Services (NYSE:FIS) Price Target to $75.00

Fidelity National Information Services (NYSE:FIS - Free Report) had its target price raised by TD Cowen from $70.00 to $75.00 in a research note released on Wednesday, Benzinga reports. They currently have a hold rating on the information technology services provider's stock.

Several other brokerages have also recently weighed in on FIS. Robert W. Baird upped their price target on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the stock a neutral rating in a research report on Tuesday. Mizuho upped their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a buy rating in a report on Wednesday, February 28th. The Goldman Sachs Group began coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a buy rating and a $84.00 price target on the stock. Bank of America upped their price objective on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, Stephens reiterated an overweight rating and issued a $90.00 target price on shares of Fidelity National Information Services in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $76.79.

Fidelity National Information Services Stock Down 0.3 %

NYSE FIS traded down $0.26 on Wednesday, reaching $74.05. 5,420,379 shares of the stock traded hands, compared to its average volume of 4,481,281. Fidelity National Information Services has a 12 month low of $46.91 and a 12 month high of $75.71. The company has a market cap of $41.58 billion, a price-to-earnings ratio of -6.59, a PEG ratio of 0.88 and a beta of 0.98. The company has a fifty day moving average price of $70.79 and a 200-day moving average price of $62.91. 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 announced its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has approved a share repurchase program on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Fidelity National Information Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services's dividend payout ratio is currently -12.81%.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein purchased 775 shares of the firm's stock in a transaction on Monday, April 15th. The stock was bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the acquisition, the director now owns 9,052 shares of the company's stock, valued at approximately $655,093.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIS. Vanguard Group Inc. raised its holdings in 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 worth $3,199,306,000 after purchasing an additional 6,503,451 shares during the period. FIL Ltd raised its stake in shares of Fidelity National Information Services by 27.3% during the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider's stock worth $773,552,000 after buying an additional 2,758,049 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $506,753,000 after buying an additional 121,154 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Fidelity National Information Services by 6.8% in 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 acquiring an additional 537,180 shares during the period. Finally, Norges Bank purchased a new stake in Fidelity National Information Services in the 4th quarter worth $478,594,000. Hedge funds and other institutional investors own 96.23% of the company's stock.

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.