Morgan Stanley Issues Pessimistic Forecast for Fidelity National Information Services (NYSE:FIS) Stock Price

Fidelity National Information Services (NYSE:FIS) had its price target lowered by Morgan Stanley from $92.00 to $86.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 17.60% from the company’s current price.

Other research analysts have also issued reports about the stock. Robert W. Baird upped their target price on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. BNP Paribas cut Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods cut their target price on Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday. Raymond James cut shares of Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $115.00 to $101.00 in a research report on Monday, January 6th. Finally, Compass Point assumed coverage on shares of Fidelity National Information Services in a research report on Wednesday, November 20th. They issued a “buy” rating and a $126.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.27.

Fidelity National Information Services Price Performance

Fidelity National Information Services stock opened at $73.13 on Wednesday. The stock has a market cap of $39.37 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 0.63 and a beta of 1.04. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $81.08 and a 200 day simple moving average of $82.94. Fidelity National Information Services has a 52 week low of $60.39 and a 52 week high of $91.98.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate 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 previous year, the business earned $0.94 EPS. On average, research analysts forecast 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, Director Jeffrey A. Goldstein acquired 701 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average price of $79.97 per share, with a total value of $56,058.97. Following the completion of the purchase, the director now directly owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. The trade was a 6.74 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lenore D. Williams sold 11,305 shares of the firm’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 transaction of $994,500.85. Following the transaction, the executive vice president now directly owns 32,199 shares of the company’s stock, valued at $2,832,546.03. This represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Fidelity National Information Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Fidelity National Information Services in the fourth quarter worth $451,458,000. Raymond James & Associates raised its position in shares of 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 purchasing an additional 3,357,329 shares during the last quarter. KBC Group NV boosted its stake in Fidelity National Information Services by 1,390.5% in the 4th quarter. KBC Group NV now owns 1,180,258 shares of the information technology services provider’s stock worth $95,330,000 after purchasing an additional 1,101,072 shares in the last quarter. Nordea Investment Management AB grew its position in Fidelity National Information Services by 1,304.8% during the 4th quarter. Nordea Investment Management AB now owns 605,237 shares of the information technology services provider’s stock valued at $48,927,000 after purchasing an additional 562,154 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Fidelity National Information Services by 13.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,433,946 shares of the information technology services provider’s stock valued at $371,343,000 after purchasing an additional 538,514 shares in the last quarter. Hedge funds and other 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.