Zacks Investment Research downgraded shares of Fidelity National Information Servcs (NYSE:FIS) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.
According to Zacks, “Fidelity National displays an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Also, earnings estimate have been revised upward ahead of the company's first quarter release. It remains well positioned for growth backed by its attractive core business with a recurring revenue model, digitization, and several ongoing strategic initiatives. Strong capital position keeps the company well poised to undertake opportunistic expansion strategies. Further, the company's international exposure will support revenue growth. However, shares of Fidelity National have underperformed the industry in the past three months. The company remains exposed to significant competition from new entrants. Also, its capital deployment activities seem to be unsustainable.”
A number of other analysts have also recently weighed in on FIS. Keefe, Bruyette & Woods assumed coverage on shares of Fidelity National Information Servcs in a research note on Monday, April 8th. They set an outperform rating and a $136.00 target price on the stock. Cantor Fitzgerald reaffirmed a buy rating and set a $122.00 target price on shares of Fidelity National Information Servcs in a research note on Tuesday, April 2nd. Guggenheim boosted their target price on shares of Fidelity National Information Servcs to $135.00 and gave the stock a buy rating in a research note on Friday, March 22nd. William Blair reaffirmed an outperform rating on shares of Fidelity National Information Servcs in a research note on Tuesday, February 12th. Finally, Barclays boosted their price objective on shares of Fidelity National Information Servcs from $129.00 to $135.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $124.81.
NYSE FIS opened at $111.58 on Tuesday. The firm has a market cap of $36.58 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.27 and a beta of 0.74. Fidelity National Information Servcs has a fifty-two week low of $93.87 and a fifty-two week high of $115.56. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85.
Fidelity National Information Servcs (NYSE:FIS) last posted its earnings results on Tuesday, February 12th. The information technology services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Fidelity National Information Servcs had a net margin of 10.06% and a return on equity of 16.71%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, sell-side analysts predict that Fidelity National Information Servcs will post 7.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.35 dividend. This is a boost from Fidelity National Information Servcs’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.25%. Fidelity National Information Servcs’s payout ratio is currently 26.77%.
In other Fidelity National Information Servcs news, Director Alexandar Navab, Jr. acquired 5,075 shares of Fidelity National Information Servcs stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of $107.22 per share, with a total value of $544,141.50. Following the completion of the purchase, the director now directly owns 5,075 shares in the company, valued at approximately $544,141.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary Norcross sold 88,016 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $108.56, for a total transaction of $9,555,016.96. Following the completion of the sale, the chief executive officer now directly owns 183,887 shares in the company, valued at approximately $19,962,772.72. The disclosure for this sale can be found here. Insiders own 2.08% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FIS. Lunia Capital LP acquired a new position in Fidelity National Information Servcs in the fourth quarter valued at $20,720,000. Oregon Public Employees Retirement Fund lifted its holdings in Fidelity National Information Servcs by 10,029.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,666,778 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 3,630,580 shares during the period. Norges Bank acquired a new position in Fidelity National Information Servcs in the fourth quarter valued at $313,772,000. FMR LLC lifted its holdings in Fidelity National Information Servcs by 23.2% in the fourth quarter. FMR LLC now owns 4,410,648 shares of the information technology services provider’s stock valued at $452,311,000 after buying an additional 831,468 shares during the period. Finally, Millennium Management LLC lifted its holdings in Fidelity National Information Servcs by 238.2% in the fourth quarter. Millennium Management LLC now owns 845,382 shares of the information technology services provider’s stock valued at $86,694,000 after buying an additional 595,382 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.
Fidelity National Information Servcs Company Profile
Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.
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