Robert W. Baird Raises Fidelity National Information Services (NYSE:FIS) Price Target to $82.00

Fidelity National Information Services (NYSE:FIS) had its price target boosted by Robert W. Baird from $78.00 to $82.00 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

FIS has been the subject of a number of other research reports. Mizuho boosted their price target on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. Morgan Stanley boosted their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Truist Financial boosted their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a hold rating in a research note on Tuesday, February 27th. Evercore ISI upped their price objective on shares of Fidelity National Information Services from $62.00 to $75.00 and gave the company an in-line rating in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada upped their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an outperform rating in a research note on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $74.63.

Fidelity National Information Services Stock Performance

NYSE FIS opened at $74.31 on Tuesday. The company’s 50 day moving average is $70.79 and its 200-day moving average is $62.91. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $75.71. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The firm has a market cap of $41.73 billion, a P/E ratio of -6.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.14. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Sell-side analysts predict that Fidelity National Information Services will post 4.71 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

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

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

Insider Transactions at Fidelity National Information Services

In related 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 purchase, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new position in Fidelity National Information Services in the 1st quarter worth $29,000. EdgeRock Capital LLC bought a new position in Fidelity National Information Services in the 4th quarter worth $29,000. OFI Invest Asset Management bought a new position in Fidelity National Information Services in the 3rd quarter worth $25,000. Baystate Wealth Management LLC boosted its holdings in Fidelity National Information Services by 332.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after buying an additional 372 shares during the period. Finally, Palisade Asset Management LLC bought a new position in Fidelity National Information Services in the 1st quarter worth $37,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

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.