Barclays Raises Fidelity National Information Services (NYSE:FIS) Price Target to $85.00

Fidelity National Information Services (NYSE:FIS - Free Report) had its price target raised by Barclays from $83.00 to $85.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the information technology services provider's stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. William Blair restated an outperform rating on shares of Fidelity National Information Services in a report on Tuesday. Susquehanna lifted their price objective on Fidelity National Information Services from $81.00 to $86.00 and gave the company a positive rating in a report on Wednesday. TheStreet raised shares of Fidelity National Information Services from a d rating to a c rating in a research note on Monday, February 26th. Finally, Robert W. Baird boosted their price objective 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. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Fidelity National Information Services currently has an average rating of Moderate Buy and an average target price of $78.11.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock traded down $0.34 on Thursday, hitting $73.71. The company had a trading volume of 3,933,048 shares, compared to its average volume of 4,475,390. 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 cap of $41.39 billion, a PE ratio of -7.21, a PEG ratio of 0.88 and a beta of 0.98. The business has a 50-day simple moving average of $70.93 and a 200-day simple moving average of $62.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced 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. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period last year, the company posted $1.29 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts expect that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.95%. Fidelity National Information Services's dividend payout ratio is -14.08%.

Fidelity National Information Services announced that its board has initiated a stock repurchase plan on Monday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the acquisition, the director now directly owns 9,052 shares of the company's stock, valued at $655,093.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Fidelity National Information Services in the 4th quarter worth $478,594,000. Vanguard Group Inc. boosted 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 worth $3,199,306,000 after buying an additional 6,503,451 shares during the last quarter. Lyrical Asset Management LP bought a new position in Fidelity National Information Services in the 4th quarter valued at $260,316,000. JANA Partners Management LP purchased a new stake in shares of Fidelity National Information Services during the 3rd quarter valued at $206,507,000. Finally, Lazard Asset Management LLC raised its stake in shares of Fidelity National Information Services by 660.0% during the 3rd quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider's stock worth $183,944,000 after purchasing an additional 2,890,185 shares during the period. 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.