Mizuho Increases Fidelity National Information Services (NYSE:FIS) Price Target to $85.00

Fidelity National Information Services (NYSE:FIS) had its price target hoisted by research analysts at Mizuho from $76.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Mizuho’s price objective would suggest a potential upside of 14.79% from the company’s previous close.

Several other research firms have also recently weighed in on FIS. JPMorgan Chase & Co. boosted their price target on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. William Blair reiterated an “outperform” rating on shares of Fidelity National Information Services in a research note on Tuesday. Wedbush reissued an “outperform” rating and issued a $75.00 target price on shares of Fidelity National Information Services in a research report on Wednesday. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Finally, Morgan Stanley lifted their price objective on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services currently has an average rating of “Moderate Buy” and an average target price of $77.26.

Fidelity National Information Services Price Performance

FIS stock opened at $74.05 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50-day moving average is $70.79 and its 200-day moving average is $62.91. The stock has a market capitalization of $41.58 billion, a PE ratio of -7.24, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. Fidelity National Information Services has a 1 year low of $46.91 and a 1 year high of $75.71.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts expect that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services declared that its board has authorized a share repurchase program on Monday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction on Monday, April 15th. The stock was acquired at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Fidelity National Information Services by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after acquiring an additional 6,503,451 shares in the last quarter. FIL Ltd increased its stake in shares of Fidelity National Information Services by 27.3% in the fourth quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after purchasing an additional 2,758,049 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fidelity National Information Services by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock worth $506,753,000 after purchasing an additional 121,154 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Fidelity National Information Services by 6.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock valued at $505,956,000 after buying an additional 537,180 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Fidelity National Information Services in the fourth quarter worth $478,594,000. 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.