Royal Bank of Canada Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $95.00

Fidelity National Information Services (NYSE:FIS) had its target price lowered by Royal Bank of Canada from $104.00 to $95.00 in a report published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the information technology services provider’s stock.

Several other research analysts have also issued reports on FIS. BNP Paribas lowered Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 20th. TD Cowen boosted their price objective on Fidelity National Information Services from $78.00 to $86.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Stephens cut their price objective on Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. Susquehanna lowered shares of Fidelity National Information Services from a “positive” rating to a “neutral” rating and lowered their target price for the company from $103.00 to $81.00 in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price target on shares of Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.95.

Fidelity National Information Services Price Performance

NYSE:FIS opened at $72.59 on Wednesday. The firm has a market capitalization of $39.08 billion, a price-to-earnings ratio of 28.92, a PEG 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. 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 1 year low of $60.39 and a 1 year 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, 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 quarter in the previous year, the business earned $0.94 EPS. Equities analysts forecast that Fidelity National Information Services will post 5.18 EPS for the current year.

Fidelity National Information Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.20%. This is an increase from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, March 11th. Fidelity National Information Services’s dividend payout ratio (DPR) is 57.37%.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 701 shares of Fidelity National Information Services stock in a transaction that occurred 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 transaction, the director now directly owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. This represents a 6.74 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lenore D. Williams sold 11,305 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was 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 directly owns 32,199 shares of the company’s stock, valued at approximately $2,832,546.03. This represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIS. Larson Financial Group LLC grew its stake in Fidelity National Information Services by 94.1% during the 3rd quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Fidelity National Information Services in the third quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Fidelity National Information Services in the 4th quarter worth approximately $30,000. Groupama Asset Managment lifted its stake in Fidelity National Information Services by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 42,342 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 319 shares during the period. Finally, Concord Wealth Partners boosted its holdings in shares of Fidelity National Information Services by 50.2% in the 3rd quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock valued at $37,000 after acquiring an additional 146 shares during the last quarter. 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.