Credit Suisse Group Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $120.00

Fidelity National Information Services (NYSE:FISGet Rating) had its price target decreased by analysts at Credit Suisse Group from $130.00 to $120.00 in a research report issued on Friday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 47.13% from the company’s current price.

A number of other research firms have also weighed in on FIS. Oppenheimer lowered their price objective on shares of Fidelity National Information Services from $126.00 to $118.00 and set an “outperform” rating for the company in a research note on Monday, July 25th. Citigroup cut their price objective on shares of Fidelity National Information Services to $128.00 in a report on Tuesday, August 9th. Morgan Stanley lowered their target price on Fidelity National Information Services from $102.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, June 30th. Wolfe Research cut their price target on Fidelity National Information Services from $165.00 to $135.00 in a report on Wednesday, July 20th. Finally, Royal Bank of Canada dropped their price objective on Fidelity National Information Services from $141.00 to $114.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.64.

Fidelity National Information Services Trading Up 1.3 %

Shares of NYSE FIS traded up $1.05 during mid-day trading on Friday, reaching $81.56. The company had a trading volume of 160,643 shares, compared to its average volume of 4,577,430. The stock has a market cap of $49.59 billion, a price-to-earnings ratio of 59.13, a price-to-earnings-growth ratio of 0.78 and a beta of 0.78. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. Fidelity National Information Services has a 52 week low of $78.77 and a 52 week high of $126.20. The business’s 50-day moving average is $94.80 and its 200-day moving average is $96.81.

Fidelity National Information Services (NYSE:FISGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The information technology services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. Fidelity National Information Services had a net margin of 5.88% and a return on equity of 8.95%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Equities analysts expect that Fidelity National Information Services will post 7.07 earnings per share for the current year.

Insider Transactions at Fidelity National Information Services

In related news, CEO Gary Norcross sold 80,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $90.89, for a total value of $7,271,200.00. Following the completion of the transaction, the chief executive officer now directly owns 846,643 shares in the company, valued at $76,951,382.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Fidelity National Information Services news, EVP Lenore D. Williams sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the executive vice president now owns 21,334 shares of the company’s stock, valued at $2,133,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary Norcross sold 80,000 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $90.89, for a total value of $7,271,200.00. Following the transaction, the chief executive officer now owns 846,643 shares of the company’s stock, valued at $76,951,382.27. The disclosure for this sale can be found here. Insiders sold 207,240 shares of company stock worth $18,934,354 in the last 90 days. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of hedge funds and other institutional investors have recently bought and sold shares of FIS. Gotham Asset Management LLC increased its stake in Fidelity National Information Services by 38.3% during the 4th quarter. Gotham Asset Management LLC now owns 4,055 shares of the information technology services provider’s stock worth $443,000 after buying an additional 1,123 shares during the period. Mutual Advisors LLC acquired a new stake in shares of Fidelity National Information Services in the fourth quarter valued at $208,000. GSA Capital Partners LLP purchased a new position in Fidelity National Information Services in the fourth quarter valued at $650,000. Blair William & Co. IL grew its stake in Fidelity National Information Services by 21.4% during the 4th quarter. Blair William & Co. IL now owns 100,070 shares of the information technology services provider’s stock worth $10,923,000 after purchasing an additional 17,622 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Fidelity National Information Services by 122.6% during the 4th quarter. Clearstead Advisors LLC now owns 3,223 shares of the information technology services provider’s stock worth $352,000 after purchasing an additional 1,775 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

About Fidelity National Information Services

(Get Rating)

Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.

Featured Stories

Stock Target Advisor logo

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

Receive News & Ratings for Fidelity National Information Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity National Information Services and related companies with MarketBeat.com's FREE daily email newsletter.