BidaskClub upgraded shares of Fidelity National Information Services, Inc. (NYSE:FIS) from a buy rating to a strong-buy rating in a research note published on Thursday morning.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Fidelity National Information Services from a hold rating to a sell rating in a report on Wednesday, July 19th. BMO Capital Markets lifted their price objective on Fidelity National Information Services from $92.00 to $104.00 and gave the company an outperform rating in a research report on Thursday, August 3rd. Barclays PLC reissued an overweight rating and set a $102.00 price objective (up previously from $94.00) on shares of Fidelity National Information Services in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a buy rating and set a $96.00 price objective on shares of Fidelity National Information Services in a research report on Wednesday, July 12th. Finally, Cantor Fitzgerald reissued a buy rating and set a $89.00 price objective on shares of Fidelity National Information Services in a research report on Tuesday, May 2nd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $92.20.

Shares of Fidelity National Information Services (FIS) traded up 0.16% during midday trading on Thursday, hitting $91.40. 359,087 shares of the stock were exchanged. The company has a market cap of $30.38 billion, a price-to-earnings ratio of 45.81 and a beta of 0.84. The firm has a 50 day moving average of $89.92 and a 200-day moving average of $84.66. Fidelity National Information Services has a one year low of $73.25 and a one year high of $92.78.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.05. Fidelity National Information Services had a return on equity of 13.49% and a net margin of 7.08%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. Fidelity National Information Services’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that Fidelity National Information Services will post $4.28 EPS for the current year.

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Fidelity National Information Services declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 13.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.29 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. Fidelity National Information Services’s payout ratio is presently 58.00%.

In related news, Director Frank R. Martire sold 400,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $90.34, for a total transaction of $36,136,000.00. Following the transaction, the director now directly owns 202,517 shares in the company, valued at $18,295,385.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James B. Stallings, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $90.32, for a total value of $196,987.92. Following the transaction, the director now owns 12,317 shares in the company, valued at $1,112,471.44. The disclosure for this sale can be found here. Insiders have sold 420,549 shares of company stock worth $37,988,679 over the last 90 days. Corporate insiders own 2.66% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Fidelity National Information Services by 3,230.2% in the first quarter. BlackRock Inc. now owns 21,025,798 shares of the information technology services provider’s stock valued at $1,674,072,000 after buying an additional 20,394,426 shares in the last quarter. Janus Henderson Group PLC raised its stake in Fidelity National Information Services by 253.1% in the second quarter. Janus Henderson Group PLC now owns 4,500,969 shares of the information technology services provider’s stock valued at $384,370,000 after buying an additional 3,226,198 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Fidelity National Information Services during the second quarter valued at $176,220,000. Voya Investment Management LLC raised its stake in Fidelity National Information Services by 80.3% in the second quarter. Voya Investment Management LLC now owns 2,912,478 shares of the information technology services provider’s stock valued at $248,726,000 after buying an additional 1,297,225 shares in the last quarter. Finally, Crescent Grove Advisors LLC bought a new stake in Fidelity National Information Services during the second quarter valued at $106,333,000. Institutional investors own 86.37% of the company’s stock.

About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

Analyst Recommendations for Fidelity National Information Services (NYSE:FIS)

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