Fidelity National Information Services (NYSE:FIS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Fidelity National Information Services (NYSE:FIS) had its target price raised by research analysts at Morgan Stanley from $87.00 to $92.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 14.80% from the stock’s previous close.

Several other brokerages have also weighed in on FIS. Jefferies Financial Group increased their target price on Fidelity National Information Services from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Barclays increased their price target on Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Robert W. Baird raised their price objective on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods boosted their price target on Fidelity National Information Services from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, TD Cowen boosted their price objective on shares of Fidelity National Information Services from $78.00 to $86.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.75.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock opened at $80.14 on Wednesday. The company has a market capitalization of $43.14 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 0.72 and a beta of 1.03. The stock has a fifty day moving average of $86.96 and a two-hundred day moving average of $81.68. Fidelity National Information Services has a fifty-two week low of $58.24 and a fifty-two week high of $91.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.18.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, November 4th. The information technology services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.11. Fidelity National Information Services had a return on equity of 15.35% and a net margin of 14.37%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm posted $0.94 EPS. Fidelity National Information Services’s revenue was up 3.1% on a year-over-year basis. On average, analysts anticipate that Fidelity National Information Services will post 5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Lenore D. Williams sold 11,305 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $87.97, for a total value of $994,500.85. Following the completion of the sale, the executive vice president now owns 32,199 shares in the company, valued at approximately $2,832,546.03. This represents a 25.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Goldstein bought 626 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was acquired at an average cost of $88.25 per share, with a total value of $55,244.50. Following the transaction, the director now owns 10,397 shares of the company’s stock, valued at $917,535.25. This trade represents a 6.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in Fidelity National Information Services by 982.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,895,432 shares of the information technology services provider’s stock valued at $293,560,000 after purchasing an additional 3,535,596 shares during the last quarter. Raymond James & Associates raised its holdings in Fidelity National Information Services by 449.8% in the 3rd quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock worth $343,693,000 after acquiring an additional 3,357,329 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Fidelity National Information Services during the 2nd quarter valued at approximately $83,562,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Fidelity National Information Services in the second quarter valued at approximately $40,029,000. Finally, Fernbridge Capital Management LP boosted its holdings in Fidelity National Information Services by 67.2% in the 2nd quarter. Fernbridge Capital Management LP now owns 1,153,134 shares of the information technology services provider’s stock valued at $86,900,000 after purchasing an additional 463,613 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

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.