Fidelity National Information Servcs (FIS) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Fidelity National Information Servcs (NYSE:FIS) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The firm currently has $108.00 target price on the information technology services provider’s stock.
According to Zacks, “Shares of Fidelity National Information Services have underperformed the industry, over the past six months. Yet, the company displays an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in each of the trailing four quarters. Fourth-quarter 2017 results reflected lower expenses and easing margin pressure but revenues decreased. 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. It anticipates 2018 adjusted earnings per share in the band of $5.10-$5.30, reflecting an increase of about 15-20% year over year. Though, the company remains exposed to significant competition from new entrants, its involvement in steady capital deployment activities encourages us.”
A number of other research firms have also weighed in on FIS. Robert W. Baird upped their target price on shares of Fidelity National Information Servcs from $108.00 to $115.00 and gave the stock an outperform rating in a research note on Wednesday, January 24th. BMO Capital Markets upped their target price on shares of Fidelity National Information Servcs from $104.00 to $118.00 and gave the stock an outperform rating in a research note on Wednesday. They noted that the move was a valuation call. Royal Bank of Canada restated a buy rating and set a $116.00 target price on shares of Fidelity National Information Servcs in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of Fidelity National Information Servcs from an overweight rating to a neutral rating in a research note on Tuesday, December 12th. Finally, Barclays upped their target price on shares of Fidelity National Information Servcs from $102.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday, October 26th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $102.47.
Fidelity National Information Servcs (NYSE:FIS) last released its earnings results on Tuesday, February 6th. The information technology services provider reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.02. Fidelity National Information Servcs had a net margin of 14.46% and a return on equity of 14.46%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. sell-side analysts forecast that Fidelity National Information Servcs will post 5.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be paid a $0.32 dividend. This is a positive change from Fidelity National Information Servcs’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.35%. The ex-dividend date is Thursday, March 15th. Fidelity National Information Servcs’s dividend payout ratio is currently 29.59%.
In other Fidelity National Information Servcs news, Director David K. Hunt sold 17,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $94.53, for a total value of $1,607,010.00. Following the transaction, the director now directly owns 19,154 shares in the company, valued at $1,810,627.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory G. Montana sold 58,547 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $92.54, for a total value of $5,417,939.38. The disclosure for this sale can be found here. Insiders sold 79,147 shares of company stock worth $7,366,481 over the last quarter. 2.66% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. BB&T Investment Services Inc. acquired a new stake in shares of Fidelity National Information Servcs in the second quarter valued at approximately $103,000. WFG Advisors LP boosted its holdings in shares of Fidelity National Information Servcs by 99.8% in the second quarter. WFG Advisors LP now owns 1,187 shares of the information technology services provider’s stock valued at $101,000 after acquiring an additional 593 shares during the period. Calton & Associates Inc. acquired a new stake in shares of Fidelity National Information Servcs in the fourth quarter valued at approximately $123,000. Cerebellum GP LLC acquired a new stake in shares of Fidelity National Information Servcs during the fourth quarter worth $126,000. Finally, Rockefeller Financial Services Inc. acquired a new stake in shares of Fidelity National Information Servcs during the third quarter worth $128,000. 87.62% of the stock is owned by institutional investors and hedge funds.
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Fidelity National Information Servcs 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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