Wells Fargo & Company Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $80.00

Fidelity National Information Services (NYSE:FIS) had its target price dropped by Wells Fargo & Company from $88.00 to $80.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 9.57% from the company’s previous close.

A number of other brokerages also recently weighed in on FIS. Susquehanna downgraded shares of Fidelity National Information Services from a “positive” rating to a “neutral” rating and cut their price target for the company from $103.00 to $81.00 in a research report on Wednesday. Morgan Stanley dropped their target price on shares of Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating on the stock in a report on Wednesday. Raymond James downgraded shares of Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $115.00 to $101.00 in a report on Monday, January 6th. TD Cowen raised their target price on shares of Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $104.00 target price on shares of Fidelity National Information Services in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $88.95.

Fidelity National Information Services Trading Down 0.2 %

Shares of NYSE FIS traded down $0.15 during mid-day trading on Wednesday, hitting $73.01. The company’s stock had a trading volume of 2,980,217 shares, compared to its average volume of 2,903,385. The stock has a market cap of $39.30 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.18. Fidelity National Information Services has a one year low of $60.39 and a one year high of $91.98. The company’s fifty day simple moving average is $81.08 and its 200-day simple moving average is $82.94.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. During the same period in the prior year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that Fidelity National Information Services will post 5.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fidelity National Information Services news, EVP Lenore D. Williams sold 11,305 shares of Fidelity National Information Services stock in a transaction on Friday, November 15th. The shares were sold at an average price of $87.97, for a total transaction of $994,500.85. Following the completion of the transaction, the executive vice president now directly owns 32,199 shares of the company’s stock, valued at $2,832,546.03. The trade was a 25.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Goldstein acquired 701 shares of Fidelity National Information Services stock in a transaction on Wednesday, January 15th. The shares were bought at an average cost of $79.97 per share, with a total value of $56,058.97. Following the completion of the transaction, the director now owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. This trade represents a 6.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

A number of institutional investors have recently modified their holdings of the business. Bradley Foster & Sargent Inc. CT boosted its position in shares of Fidelity National Information Services by 4.7% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,869 shares of the information technology services provider’s stock valued at $232,000 after acquiring an additional 128 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Fidelity National Information Services by 2.2% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,938 shares of the information technology services provider’s stock valued at $480,000 after acquiring an additional 129 shares during the period. Graypoint LLC boosted its position in shares of Fidelity National Information Services by 4.6% in the third quarter. Graypoint LLC now owns 3,026 shares of the information technology services provider’s stock valued at $253,000 after acquiring an additional 132 shares during the period. Old Port Advisors boosted its position in shares of Fidelity National Information Services by 4.9% in the fourth quarter. Old Port Advisors now owns 2,867 shares of the information technology services provider’s stock valued at $232,000 after acquiring an additional 135 shares during the period. Finally, Aptus Capital Advisors LLC boosted its position in shares of Fidelity National Information Services by 3.9% in the third quarter. Aptus Capital Advisors LLC now owns 3,679 shares of the information technology services provider’s stock valued at $308,000 after acquiring an additional 137 shares during the period. Institutional investors own 96.23% of the company’s stock.

About Fidelity National Information Services

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.