Fidelity National Information Services (NYSE:FIS) Downgraded by Raymond James to “Outperform”

Fidelity National Information Services (NYSE:FIS) was downgraded by analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research report issued on Monday,Briefing.com Automated Import reports. They currently have a $101.00 price target on the information technology services provider’s stock, down from their previous price target of $115.00. Raymond James’ price objective would indicate a potential upside of 25.84% from the company’s previous close.

FIS has been the subject of a number of other reports. UBS Group raised their price objective on Fidelity National Information Services from $80.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen lifted their price target 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. Morgan Stanley boosted their price target on shares of Fidelity National Information Services from $87.00 to $92.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Stephens increased 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 research report on Friday, October 18th. Finally, Susquehanna upped their price target on Fidelity National Information Services from $88.00 to $103.00 and gave the stock a “positive” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fidelity National Information Services currently has an average rating of “Moderate Buy” and a consensus target price of $92.19.

Fidelity National Information Services Price Performance

NYSE:FIS opened at $80.26 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $85.15 and a two-hundred day moving average of $82.11. The firm has a market cap of $43.21 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 0.72 and a beta of 1.04. Fidelity National Information Services has a 12 month low of $58.24 and a 12 month high of $91.98.

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

Insider Transactions at Fidelity National Information Services

In other news, EVP Lenore D. Williams sold 11,305 shares of Fidelity National Information Services stock in a transaction dated 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 sale, the executive vice president now directly owns 32,199 shares in the company, valued at $2,832,546.03. The trade was a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Goldstein acquired 626 shares of Fidelity National Information Services stock in a transaction that occurred on Tuesday, October 15th. The shares were purchased at an average cost of $88.25 per share, for a total transaction of $55,244.50. Following the purchase, the director now directly owns 10,397 shares of the company’s stock, valued at approximately $917,535.25. This trade represents a 6.41 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Fidelity National Information Services by 982.6% in the 2nd 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 buying an additional 3,535,596 shares during the period. Raymond James & Associates grew its holdings in Fidelity National Information Services by 449.8% in the third quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock valued at $343,693,000 after purchasing an additional 3,357,329 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Fidelity National Information Services during the second quarter worth approximately $83,562,000. Nordea Investment Management AB raised its stake in Fidelity National Information Services by 1,304.8% during the fourth quarter. Nordea Investment Management AB now owns 605,237 shares of the information technology services provider’s stock worth $48,927,000 after purchasing an additional 562,154 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Fidelity National Information Services in the 2nd quarter valued at $40,029,000. 96.23% of the stock is currently owned by institutional investors and hedge funds.

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.