Fidelity National Information Services, Inc. (FIS) Given “Outperform” Rating at Credit Suisse Group

Fidelity National Information Services, Inc. (NYSE:FIS)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse Group in a research report issued on Wednesday. They presently have a $108.00 price objective on the information technology services provider’s stock, up from their prior price objective of $100.00. Credit Suisse Group’s price target would indicate a potential upside of 16.43% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other research firms also recently commented on FIS. Barclays PLC boosted their price target on shares of Fidelity National Information Services from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of Fidelity National Information Services from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Robert W. Baird restated an “outperform” rating and issued a $108.00 price target (up previously from $102.00) on shares of Fidelity National Information Services in a research note on Tuesday, October 10th. BidaskClub upgraded shares of Fidelity National Information Services from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Finally, BMO Capital Markets boosted their price target on shares of Fidelity National Information Services from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Fidelity National Information Services currently has an average rating of “Buy” and a consensus price target of $96.53.

Shares of Fidelity National Information Services (FIS) opened at 92.76 on Wednesday. The stock has a market cap of $30.83 billion, a price-to-earnings ratio of 46.50 and a beta of 0.85. The firm’s 50-day moving average price is $94.00 and its 200-day moving average price is $88.91. Fidelity National Information Services has a 12-month low of $73.97 and a 12-month high of $96.67.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, October 30th. The information technology services provider reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.22 billion. Fidelity National Information Services had a net margin of 7.08% and a return on equity of 13.49%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. On average, analysts forecast that Fidelity National Information Services will post $4.29 EPS for the current fiscal year.

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

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In related news, COO Anthony M. Jabbour sold 100,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $92.36, for a total transaction of $9,236,000.00. Following the completion of the transaction, the chief operating officer now owns 282,689 shares in the company, valued at $26,109,156.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephan A. James sold 18,368 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,655,691.52. Following the completion of the sale, the director now directly owns 43,231 shares of the company’s stock, valued at $3,896,842.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 520,549 shares of company stock valued at $47,224,679. Insiders own 2.66% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caldera Capital LLC lifted its position in Fidelity National Information Services by 10.8% in the second quarter. Caldera Capital LLC now owns 181,428 shares of the information technology services provider’s stock valued at $15,493,000 after acquiring an additional 17,676 shares during the last quarter. Polaris Greystone Financial Group LLC lifted its position in Fidelity National Information Services by 1.7% in the second quarter. Polaris Greystone Financial Group LLC now owns 229,356 shares of the information technology services provider’s stock valued at $19,587,000 after acquiring an additional 3,867 shares during the last quarter. Commerce Bank lifted its position in Fidelity National Information Services by 0.9% in the second quarter. Commerce Bank now owns 398,692 shares of the information technology services provider’s stock valued at $34,048,000 after acquiring an additional 3,476 shares during the last quarter. Shell Asset Management Co. lifted its position in Fidelity National Information Services by 110.3% in the second quarter. Shell Asset Management Co. now owns 75,284 shares of the information technology services provider’s stock valued at $6,429,000 after acquiring an additional 39,483 shares during the last quarter. Finally, Motco lifted its position in Fidelity National Information Services by 12.3% in the second quarter. Motco now owns 1,192 shares of the information technology services provider’s stock valued at $102,000 after acquiring an additional 131 shares during the last quarter. 86.69% of the stock is owned by hedge funds and other 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.

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