BidaskClub lowered shares of Fidelity National Information Services, Inc. (NYSE:FIS) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

A number of other brokerages have also commented on FIS. Cowen and Company reissued a buy rating and set a $97.00 price objective on shares of Fidelity National Information Services in a report on Thursday, August 3rd. Barclays PLC reissued a buy rating and set a $94.00 price objective on shares of Fidelity National Information Services in a report on Friday, May 5th. Zacks Investment Research raised shares of Fidelity National Information Services from a sell rating to a hold rating in a report on Tuesday, August 1st. BMO Capital Markets increased their price objective on shares of Fidelity National Information Services from $92.00 to $104.00 and gave the stock an outperform rating in a report on Thursday, August 3rd. Finally, Stephens reissued a positive rating and set a $101.00 price objective (up previously from $93.00) on shares of Fidelity National Information Services in a report on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Fidelity National Information Services presently has an average rating of Buy and a consensus target price of $92.20.

Shares of Fidelity National Information Services (NYSE:FIS) opened at 90.55 on Friday. The firm has a market capitalization of $29.88 billion, a price-to-earnings ratio of 45.39 and a beta of 0.84. Fidelity National Information Services has a 52 week low of $73.25 and a 52 week high of $91.90. The stock has a 50 day moving average of $87.57 and a 200-day moving average of $83.41.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.05. Fidelity National Information Services had a net margin of 7.08% and a return on equity of 13.49%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up 1.6% on a year-over-year basis. Analysts expect that Fidelity National Information Services will post $4.28 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, September 14th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 58.00%.

Fidelity National Information Services declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 13.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In other news, EVP James W. Woodall sold 70,667 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $83.02, for a total value of $5,866,774.34. Following the transaction, the executive vice president now owns 133,509 shares of the company’s stock, valued at approximately $11,083,917.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Norcross sold 158,122 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $83.24, for a total transaction of $13,162,075.28. Following the completion of the transaction, the insider now directly owns 465,821 shares in the company, valued at approximately $38,774,940.04. The disclosure for this sale can be found here. Insiders sold a total of 231,970 shares of company stock worth $19,311,228 in the last ninety days. Insiders own 2.66% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in Fidelity National Information Services by 3,230.2% in the first quarter. BlackRock Inc. now owns 21,025,798 shares of the information technology services provider’s stock valued at $1,674,072,000 after buying an additional 20,394,426 shares during the last quarter. Crescent Grove Advisors LLC purchased a new position in Fidelity National Information Services during the second quarter valued at $106,333,000. Janus Capital Management LLC raised its position in Fidelity National Information Services by 23.7% in the first quarter. Janus Capital Management LLC now owns 5,127,324 shares of the information technology services provider’s stock valued at $408,238,000 after buying an additional 983,896 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Fidelity National Information Services by 4.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,370,281 shares of the information technology services provider’s stock valued at $1,462,643,000 after buying an additional 845,325 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Fidelity National Information Services by 3.5% in the first quarter. Vanguard Group Inc. now owns 21,818,241 shares of the information technology services provider’s stock valued at $1,737,168,000 after buying an additional 745,789 shares during the last quarter. 86.70% of the stock is currently owned by institutional investors.

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.

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

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