Fidelity National Information Services (NYSE:FIS) Price Target Cut to $31.00 by Analysts at Sanford C. Bernstein

Fidelity National Information Services (NYSE:FIS) had its target price reduced by stock analysts at Sanford C. Bernstein from $48.00 to $31.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the information technology services provider’s stock. Sanford C. Bernstein‘s target price points to a potential upside of 2.65% from the company’s current price.

FIS has been the topic of a number of other research reports. The Goldman Sachs Group decreased their price objective on Fidelity National Information Services from $44.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Weiss Ratings lowered shares of Fidelity National Information Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, September 10th. National Bank Financial set a $46.00 target price on shares of Fidelity National Information Services in a report on Thursday, November 5th. Citigroup reduced their target price on shares of Fidelity National Information Services from $39.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, November 5th. Finally, TD Cowen decreased their price target on shares of Fidelity National Information Services from $47.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Six equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.35.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock traded up $1.89 during mid-day trading on Wednesday, reaching $30.20. 7,048,121 shares of the stock traded hands, compared to its average volume of 6,330,687. The stock has a market capitalization of $15.57 billion, a PE ratio of 4.49, a PEG ratio of 0.35 and a beta of 0.84. The business has a 50-day moving average of $35.72 and a 200 day moving average of $42.82. Fidelity National Information Services has a fifty-two week low of $27.93 and a fifty-two week high of $68.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.93.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. Fidelity National Information Services had a return on equity of 20.42% and a net margin of 26.77%. The business’s revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. On average, analysts predict that Fidelity National Information Services will post 5.85 EPS for the current year.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Kourtney Gibson purchased 1,800 shares of Fidelity National Information Services stock in a transaction dated Friday, November 6th. The shares were acquired at an average price of $29.00 per share, for a total transaction of $52,200.00. Following the acquisition, the director directly owned 5,903 shares in the company, valued at approximately $171,187. The trade was a 43.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Goldstein purchased 1,585 shares of the stock in a transaction dated Thursday, October 15th. The shares were purchased at an average cost of $36.40 per share, for a total transaction of $57,694.00. Following the transaction, the director owned 18,697 shares in the company, valued at approximately $680,570.80. The trade was a 9.26% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pension & Wealth Management Advisors Inc. purchased a new position in Fidelity National Information Services during the 3rd quarter valued at about $35,000. First Command Advisory Services Inc. grew its position in Fidelity National Information Services by 362.9% in the 3rd quarter. First Command Advisory Services Inc. now owns 1,134 shares of the information technology services provider’s stock valued at $37,000 after acquiring an additional 889 shares in the last quarter. Bank & Trust Co acquired a new position in Fidelity National Information Services in the 3rd quarter valued at about $51,000. N.E.W. Advisory Services LLC purchased a new stake in Fidelity National Information Services during the second quarter worth about $58,000. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Fidelity National Information Services by 96.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,976 shares of the information technology services provider’s stock worth $65,000 after purchasing an additional 972 shares during the period. 96.23% of the stock is currently owned by institutional investors and hedge funds.

About Fidelity National Information Services

Fidelity National Information Services, Inc. (FIS) provides financial technology and services to banks, credit unions, capital markets firms and other financial institutions. Its offerings include systems for processing transactions, managing accounts and supporting day-to-day financial operations. The company’s products and services also cover digital banking, payments, risk management, regulatory compliance, treasury operations and capital markets activities such as trading and securities processing.