Fidelity National Information Services, Inc. (NYSE:FIS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Shares of Fidelity National Information Services have underperformed the industry, year to date. Estimates have been stable lately ahead of the company’s Q3 earnings release. Fidelity displays an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. 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 $4.22-$4.32, reflecting an increase of 10-13% year over year. 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.”

Other equities research analysts also recently issued reports about the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $102.00 price target on shares of Fidelity National Information Services in a research note on Friday, September 8th. BidaskClub downgraded shares of Fidelity National Information Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Cowen and Company reissued a “buy” rating and set a $97.00 target price on shares of Fidelity National Information Services in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $96.00 target price on shares of Fidelity National Information Services in a research report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. boosted their target price on shares of Fidelity National Information Services from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $94.67.

Shares of Fidelity National Information Services (NYSE FIS) traded down 0.05% during trading on Monday, reaching $94.91. 39,861 shares of the company were exchanged. The firm has a market cap of $31.55 billion, a price-to-earnings ratio of 47.57 and a beta of 0.85. Fidelity National Information Services has a 52-week low of $73.25 and a 52-week high of $95.27. The stock’s 50-day moving average is $93.11 and its 200-day moving average is $87.64.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Fidelity National Information Services will post $4.28 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its board has authorized a stock repurchase program on Wednesday, August 2nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 13.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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In related news, Director Frank R. Martire sold 400,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $90.34, for a total transaction of $36,136,000.00. Following the transaction, the director now directly owns 202,517 shares in the company, valued at $18,295,385.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Anthony M. Jabbour sold 100,000 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $92.36, for a total transaction of $9,236,000.00. Following the transaction, the chief operating officer now owns 282,689 shares in the company, valued at $26,109,156.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 520,549 shares of company stock worth $47,224,679. 2.66% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in FIS. BlackRock Inc. boosted its holdings in Fidelity National Information Services by 3,230.2% during the first quarter. BlackRock Inc. now owns 21,025,798 shares of the information technology services provider’s stock worth $1,674,072,000 after purchasing an additional 20,394,426 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Fidelity National Information Services by 253.1% during the second quarter. Janus Henderson Group PLC now owns 4,500,969 shares of the information technology services provider’s stock worth $384,370,000 after purchasing an additional 3,226,198 shares during the last quarter. Maverick Capital Ltd. purchased a new position in Fidelity National Information Services during the second quarter worth about $176,220,000. Voya Investment Management LLC boosted its holdings in Fidelity National Information Services by 80.3% during the second quarter. Voya Investment Management LLC now owns 2,912,478 shares of the information technology services provider’s stock worth $248,726,000 after purchasing an additional 1,297,225 shares during the last quarter. Finally, Crescent Grove Advisors LLC purchased a new position in Fidelity National Information Services during the second quarter worth about $106,333,000. Institutional investors and hedge funds own 86.64% 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.

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

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