Fidelity National Information Services (NYSE:FIS) Downgraded by JPMorgan Chase & Co. to “Neutral”

Fidelity National Information Services (NYSE:FIS) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $38.00 target price on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 29.30% from the stock’s current price.

A number of other brokerages also recently weighed in on FIS. TD Cowen lowered their target price on shares of Fidelity National Information Services from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Susquehanna dropped their price objective on shares of Fidelity National Information Services from $46.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Truist Financial cut their target price on shares of Fidelity National Information Services from $43.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, October 23rd. Robert W. Baird reduced their target price on Fidelity National Information Services from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, September 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Fidelity National Information Services from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday, September 29th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.96.

Fidelity National Information Services Price Performance

NYSE FIS traded down $9.60 during trading on Wednesday, reaching $29.39. The company’s stock had a trading volume of 16,737,924 shares, compared to its average volume of 6,103,881. The firm has a fifty day moving average of $36.91 and a 200 day moving average of $43.64. Fidelity National Information Services has a one year low of $29.39 and a one year high of $68.37. The stock has a market capitalization of $15.19 billion, a PE ratio of 4.54, a P/E/G ratio of 0.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.53 and a quick ratio of 0.53.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Fidelity National Information Services had a return on equity of 20.95% and a net margin of 27.64%. The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the company posted $1.51 EPS. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. Analysts expect that Fidelity National Information Services will post 6.20 EPS for the current fiscal year.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey Goldstein acquired 1,585 shares of the stock in a transaction dated Thursday, October 15th. The stock was purchased at an average cost of $36.40 per share, for a total transaction of $57,694.00. Following the acquisition, the director owned 18,697 shares in the company, valued at $680,570.80. The trade was a 9.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

A number of large investors have recently added to or reduced their stakes in FIS. Azzad Asset Management Inc. ADV boosted its position in Fidelity National Information Services by 2.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 12,598 shares of the information technology services provider’s stock valued at $591,000 after buying an additional 250 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in shares of Fidelity National Information Services by 4.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 6,316 shares of the information technology services provider’s stock worth $246,000 after buying an additional 290 shares during the period. Signaturefd LLC increased its holdings in shares of Fidelity National Information Services by 4.7% in the third quarter. Signaturefd LLC now owns 6,802 shares of the information technology services provider’s stock worth $224,000 after buying an additional 303 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Fidelity National Information Services by 0.3% in the 1st quarter. Bleakley Financial Group LLC now owns 115,095 shares of the information technology services provider’s stock valued at $5,399,000 after acquiring an additional 328 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Fidelity National Information Services by 4.7% in the 3rd quarter. GAMMA Investing LLC now owns 7,772 shares of the information technology services provider’s stock valued at $256,000 after acquiring an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

About Fidelity National Information Services

Fidelity National Information Services, Inc (NYSE:FIS) is a global financial technology company that provides software, services and technology infrastructure to banks, financial institutions, merchants and other businesses. Its solutions are designed to support transaction processing, digital banking, payments, risk management and other essential financial operations.

FIS offers core banking and digital banking platforms, card and payment processing services, fraud and financial crime prevention tools, and technologies that help financial institutions manage accounts, lending and other banking activities.