TD Cowen Forecasts Strong Price Appreciation for Fidelity National Information Services (NYSE:FIS) Stock

Fidelity National Information Services (NYSE:FIS) had its price target increased by equities research analysts at TD Cowen from $78.00 to $86.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the information technology services provider’s stock. TD Cowen’s target price indicates a potential downside of 0.47% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Mizuho increased their price objective on Fidelity National Information Services from $91.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Fidelity National Information Services from $70.00 to $73.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Stephens boosted their price objective on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Susquehanna increased their target price on shares of Fidelity National Information Services from $88.00 to $103.00 and gave the company a “positive” rating in a report on Tuesday. Finally, Morgan Stanley boosted their price target on Fidelity National Information Services from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Fidelity National Information Services Stock Down 0.2 %

Shares of Fidelity National Information Services stock opened at $86.41 on Tuesday. Fidelity National Information Services has a one year low of $49.91 and a one year high of $91.98. The company has a market cap of $47.14 billion, a P/E ratio of 34.43, a PEG ratio of 0.79 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a fifty day moving average of $85.85 and a two-hundred day moving average of $79.22.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, November 4th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.11. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts forecast that Fidelity National Information Services will post 5.09 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein acquired 626 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was acquired at an average cost of $88.25 per share, for a total transaction of $55,244.50. Following the acquisition, the director now directly owns 10,397 shares in the company, valued at approximately $917,535.25. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Fidelity National Information Services during the 3rd quarter valued at about $342,000. Maxwell Wealth Strategies Inc. acquired a new stake in Fidelity National Information Services in the third quarter valued at approximately $1,294,000. Empirical Finance LLC raised its stake in shares of Fidelity National Information Services by 1.7% during the third quarter. Empirical Finance LLC now owns 20,063 shares of the information technology services provider’s stock valued at $1,680,000 after purchasing an additional 328 shares during the period. CIBC Asset Management Inc lifted its position in shares of Fidelity National Information Services by 6.7% during the third quarter. CIBC Asset Management Inc now owns 136,219 shares of the information technology services provider’s stock worth $11,408,000 after purchasing an additional 8,595 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Fidelity National Information Services by 0.7% in the third quarter. KBC Group NV now owns 79,186 shares of the information technology services provider’s stock valued at $6,631,000 after purchasing an additional 523 shares during the period. Institutional investors and hedge funds 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.