Truist Financial Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $56.00

Fidelity National Information Services (NYSE:FIS – Get Rating) had its price target decreased by Truist Financial from $65.00 to $56.00 in a report issued on Thursday, The Fly reports.

Several other equities analysts have also weighed in on the stock. Robert W. Baird cut their target price on shares of Fidelity National Information Services from $84.00 to $80.00 and set an outperform rating for the company in a report on Tuesday, February 14th. Evercore ISI cut their target price on shares of Fidelity National Information Services to $95.00 in a report on Friday, December 2nd. Credit Suisse Group lowered shares of Fidelity National Information Services from an outperform rating to a neutral rating and cut their target price for the company from $85.00 to $75.00 in a report on Tuesday, February 14th. Citigroup lowered shares of Fidelity National Information Services from a buy rating to a neutral rating and cut their target price for the company from $85.00 to $70.00 in a report on Tuesday, February 14th. Finally, StockNews.com initiated coverage on shares of Fidelity National Information Services in a report on Thursday. They set a sell rating for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Fidelity National Information Services currently has an average rating of Hold and a consensus price target of $89.91.

Fidelity National Information Services Stock Down 1.0 %

FIS opened at $51.64 on Thursday. Fidelity National Information Services has a 12-month low of $49.14 and a 12-month high of $106.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a 50 day moving average of $67.70 and a two-hundred day moving average of $71.95.

Fidelity National Information Services (NYSE:FIS – Get Rating) last posted its quarterly earnings results on Monday, February 13th. The information technology services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.01. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.69 billion. Fidelity National Information Services had a negative net margin of 115.07% and a positive return on equity of 9.71%. Fidelity National Information Services’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.92 EPS. On average, equities research analysts expect that Fidelity National Information Services will post 5.88 earnings per share for the current fiscal year.

Fidelity National Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, March 9th. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.47. Fidelity National Information Services’s payout ratio is -7.37%.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey E. Stiefler bought 2,243 shares of the stock in a transaction on Wednesday, February 22nd. The shares were bought at an average price of $66.88 per share, with a total value of $150,011.84. Following the purchase, the director now directly owns 3,343 shares in the company, valued at approximately $223,579.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fidelity National Information Services news, Director Jeffrey E. Stiefler bought 2,243 shares of the stock in a transaction on Wednesday, February 22nd. The shares were bought at an average price of $66.88 per share, with a total value of $150,011.84. Following the purchase, the director now directly owns 3,343 shares in the company, valued at approximately $223,579.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Erik D. Hoag sold 5,658 shares of Fidelity National Information Services stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $63.88, for a total transaction of $361,433.04. Following the sale, the chief financial officer now directly owns 16,368 shares in the company, valued at approximately $1,045,587.84. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Fidelity National Information Services by 10.6% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 24,802 shares of the information technology services provider’s stock worth $2,274,000 after acquiring an additional 2,370 shares during the period. Ronald Blue Trust Inc. raised its holdings in shares of Fidelity National Information Services by 12.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 3,989 shares of the information technology services provider’s stock worth $366,000 after acquiring an additional 441 shares during the period. Clear Harbor Asset Management LLC raised its holdings in shares of Fidelity National Information Services by 2.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 10,834 shares of the information technology services provider’s stock worth $819,000 after acquiring an additional 210 shares during the period. Northern Trust Corp raised its holdings in shares of Fidelity National Information Services by 12.3% during the 2nd quarter. Northern Trust Corp now owns 6,841,553 shares of the information technology services provider’s stock worth $627,166,000 after acquiring an additional 747,909 shares during the period. Finally, AMG National Trust Bank purchased a new position in shares of Fidelity National Information Services during the 3rd quarter worth $318,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Fidelity National Information Services Company Profile

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Fidelity National Information Services, Inc engages in the provision of technology solutions for financial institutions and businesses. It operates through the following segments: Banking, Merchant, Capital Markets, and Corporate and Other. The Banking segment focuses on serving financial institutions with core processing software, transaction processing software, and complementary applications and services.