Royal Bank of Canada Increases Fidelity National Information Services (NYSE:FIS) Price Target to $104.00

Fidelity National Information Services (NYSE:FIS) had its price objective raised by Royal Bank of Canada from $95.00 to $104.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

FIS has been the topic of a number of other reports. Bank of America increased their target price on shares of Fidelity National Information Services from $90.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Oppenheimer started coverage on shares of Fidelity National Information Services in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods increased their price objective on Fidelity National Information Services from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays increased their price target on Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Fidelity National Information Services from $70.00 to $73.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Fidelity National Information Services has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Fidelity National Information Services Trading Up 2.2 %

Shares of NYSE FIS traded up $1.94 during midday trading on Tuesday, reaching $88.62. 541,808 shares of the stock were exchanged, compared to its average volume of 3,766,351. The company has a market capitalization of $48.35 billion, a P/E ratio of 34.53, a P/E/G ratio of 0.80 and a beta of 1.06. Fidelity National Information Services has a 52-week low of $51.57 and a 52-week high of $91.98. The company has a current ratio of 1.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $85.85 and a 200-day moving average price of $79.22.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings data on Monday, November 4th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.11. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. Fidelity National Information Services’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. Equities research analysts expect that Fidelity National Information Services will post 5.08 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services’s payout ratio is presently 57.37%.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein acquired 626 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of $88.25 per share, with a total value of $55,244.50. Following the acquisition, the director now directly owns 10,397 shares in the company, valued at $917,535.25. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

Institutional Trading of Fidelity National Information Services

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its position in shares of Fidelity National Information Services by 15.5% during the first quarter. Janney Montgomery Scott LLC now owns 118,326 shares of the information technology services provider’s stock valued at $8,777,000 after buying an additional 15,865 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Fidelity National Information Services in the 1st quarter worth about $54,000. Nordea Investment Management AB boosted its holdings in Fidelity National Information Services by 2.3% during the 1st quarter. Nordea Investment Management AB now owns 43,236 shares of the information technology services provider’s stock valued at $3,222,000 after acquiring an additional 971 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Fidelity National Information Services by 154.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,754 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 1,670 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Fidelity National Information Services by 11.8% in the 1st quarter. GSA Capital Partners LLP now owns 6,407 shares of the information technology services provider’s stock worth $475,000 after buying an additional 677 shares during the period. 96.23% of the stock is owned by institutional investors and hedge funds.

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.