Wedbush Reiterates “Outperform” Rating for Fidelity National Information Services (NYSE:FIS)

Wedbush reiterated their outperform rating on shares of Fidelity National Information Services (NYSE:FIS) in a report published on Wednesday morning, Benzinga reports. Wedbush currently has a $75.00 price target on the information technology services provider’s stock.

FIS has been the topic of several other reports. Keefe, Bruyette & Woods raised their price target on shares of Fidelity National Information Services from $82.00 to $85.00 and gave the stock an outperform rating in a research report on Wednesday. Evercore ISI upped their price target on Fidelity National Information Services from $75.00 to $80.00 and gave the company an in-line rating in a report on Tuesday. UBS Group lifted their price objective on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a neutral rating in a report on Tuesday, February 27th. Bank of America raised their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, The Goldman Sachs Group started coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They issued a buy rating and a $84.00 target price on the stock. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Fidelity National Information Services currently has an average rating of Moderate Buy and an average target price of $78.11.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS traded down $0.34 during trading hours on Wednesday, hitting $73.71. 3,933,048 shares of the stock were exchanged, compared to its average volume of 4,475,390. Fidelity National Information Services has a one year low of $46.91 and a one year high of $75.71. The company’s 50 day moving average is $70.93 and its 200 day moving average is $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. The firm has a market capitalization of $41.39 billion, a P/E ratio of -7.21, a P/E/G ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly 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 positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business posted $1.29 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts expect that Fidelity National Information Services will post 4.71 EPS for the current year.

Fidelity National Information Services Announces Dividend

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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s payout ratio is -14.08%.

Fidelity National Information Services announced that its Board of Directors has approved a share repurchase program on Monday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein purchased 775 shares of the firm’s stock in a transaction on 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 purchase, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Several institutional investors have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC increased its holdings in Fidelity National Information Services by 26.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 141,845 shares of the information technology services provider’s stock valued at $10,522,000 after buying an additional 29,923 shares during the period. Blair William & Co. IL lifted its position in shares of Fidelity National Information Services by 65.4% during the 1st quarter. Blair William & Co. IL now owns 352,405 shares of the information technology services provider’s stock worth $26,141,000 after buying an additional 139,336 shares during the last quarter. Picton Mahoney Asset Management grew its position in Fidelity National Information Services by 3,501.8% in the first quarter. Picton Mahoney Asset Management now owns 51,397 shares of the information technology services provider’s stock valued at $3,812,000 after acquiring an additional 49,970 shares during the last quarter. Managed Asset Portfolios LLC acquired a new stake in shares of Fidelity National Information Services in the 1st quarter valued at approximately $7,060,000. Finally, SageView Advisory Group LLC grew its holdings in shares of Fidelity National Information Services by 1.3% during the 1st quarter. SageView Advisory Group LLC now owns 11,497 shares of the information technology services provider’s stock valued at $853,000 after purchasing an additional 148 shares during the last quarter. 96.23% of the stock is currently owned by 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.