Zacks Investment Research lowered shares of Fidelity National Information Services, Inc. (NYSE:FIS) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “Fidelity National Information Services shares underperformed the Zacks categorized Financial Transaction Services industry, year to date. The company remains well positioned for growth backed by its attractive core business with a recurring revenue model, digitization, diversified product portfolio, benefits from strategic acquisitions, as well as several ongoing strategic initiatives. Moreover, cost-control efforts are also commendable. It anticipates 2017 adjusted earnings per share in the band of $4.15–$4.30, reflecting an increase of 9–13% year over year and cost synergies to exceed $300 million. We remain cautious owing to several issues, including the ongoing consolidation in the banking sector and stiff competition. Moreover, elevated debt level is also a concern.”

FIS has been the topic of several other reports. Cowen and Company reissued an outperform rating and set a $92.00 target price (up from $90.00) on shares of Fidelity National Information Services in a research note on Monday, July 10th. Credit Suisse Group reissued a buy rating and set a $88.00 target price on shares of Fidelity National Information Services in a research note on Thursday, April 27th. Goldman Sachs Group, Inc. (The) downgraded shares of Fidelity National Information Services from a buy rating to a neutral rating and set a $86.00 target price on the stock. in a research note on Monday, March 27th. BidaskClub raised shares of Fidelity National Information Services from a buy rating to a strong-buy rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued a buy rating and set a $89.00 target price on shares of Fidelity National Information Services in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $89.67.

Shares of Fidelity National Information Services (NYSE:FIS) traded down 0.02% during midday trading on Wednesday, hitting $89.85. The stock had a trading volume of 496,709 shares. The firm has a market cap of $29.70 billion, a price-to-earnings ratio of 45.87 and a beta of 0.83. The company’s 50-day moving average price is $86.38 and its 200-day moving average price is $82.57. Fidelity National Information Services has a 12-month low of $73.25 and a 12-month high of $90.27.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Tuesday, May 2nd. The information technology services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Fidelity National Information Services had a net margin of 6.99% and a return on equity of 13.14%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the business earned $0.79 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Fidelity National Information Services will post $4.25 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, June 14th. Fidelity National Information Services’s dividend payout ratio (DPR) is 58.88%.

In other Fidelity National Information Services news, EVP Michael P. Oates sold 266,712 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $82.79, for a total transaction of $22,081,086.48. Following the completion of the sale, the executive vice president now directly owns 312,828 shares in the company, valued at $25,899,030.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James B. Stallings, Jr. sold 1,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $85.39, for a total transaction of $85,390.00. Following the sale, the director now owns 14,498 shares of the company’s stock, valued at $1,237,984.22. The disclosure for this sale can be found here. Insiders have sold 746,501 shares of company stock valued at $61,960,326 over the last 90 days. Corporate insiders own 2.66% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp purchased a new stake in Fidelity National Information Services during the fourth quarter worth about $2,704,000. Teachers Advisors LLC boosted its stake in Fidelity National Information Services by 31.4% in the fourth quarter. Teachers Advisors LLC now owns 790,813 shares of the information technology services provider’s stock valued at $59,817,000 after buying an additional 189,167 shares during the last quarter. Kentucky Retirement Systems bought a new stake in Fidelity National Information Services during the fourth quarter valued at $1,802,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Fidelity National Information Services during the fourth quarter valued at $804,000. Finally, Park National Corp OH bought a new stake in Fidelity National Information Services during the first quarter valued at $205,000. Institutional investors own 86.50% of the company’s stock.

Fidelity National Information Services Company Profile

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

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Analyst Recommendations for Fidelity National Information Services (NYSE:FIS)

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