JPMorgan Chase & Co. Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $80.00

Fidelity National Information Services (NYSE:FIS) had its price target cut by JPMorgan Chase & Co. from $85.00 to $80.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 23.79% from the stock’s current price.

FIS has been the topic of a number of other reports. Keefe, Bruyette & Woods decreased their target price on Fidelity National Information Services from $88.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Jefferies Financial Group reduced their price target on Fidelity National Information Services from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, October 14th. Royal Bank Of Canada reduced their price target on Fidelity National Information Services from $93.00 to $86.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup upgraded Fidelity National Information Services to a “hold” rating in a research note on Thursday, October 23rd. Finally, Stephens reduced their price target on Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.53.

Fidelity National Information Services Stock Down 0.2%

Shares of NYSE:FIS traded down $0.13 during trading on Thursday, hitting $64.62. 3,468,713 shares of the company were exchanged, compared to its average volume of 3,792,864. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 359.04 and a beta of 1.01. Fidelity National Information Services has a fifty-two week low of $59.51 and a fifty-two week high of $89.57. The firm has a fifty day moving average price of $66.52 and a two-hundred day moving average price of $74.07. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Wednesday, November 5th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. Fidelity National Information Services had a return on equity of 18.73% and a net margin of 1.09%.The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 EPS. Fidelity National Information Services has set its FY 2025 guidance at 5.740-5.780 EPS. As a group, research analysts anticipate that Fidelity National Information Services will post 5.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 889 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was acquired at an average cost of $67.66 per share, for a total transaction of $60,149.74. Following the transaction, the director directly owned 13,588 shares in the company, valued at $919,364.08. This represents a 7.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Fidelity National Information Services

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Fidelity National Information Services in the second quarter valued at about $624,858,000. Baupost Group LLC MA acquired a new stake in shares of Fidelity National Information Services in the first quarter valued at about $260,853,000. Nuveen LLC acquired a new stake in shares of Fidelity National Information Services in the first quarter valued at about $187,514,000. Invesco Ltd. increased its stake in shares of Fidelity National Information Services by 22.9% in the first quarter. Invesco Ltd. now owns 9,304,011 shares of the information technology services provider’s stock valued at $694,824,000 after buying an additional 1,730,878 shares during the period. Finally, Mizuho Markets Americas LLC increased its stake in shares of Fidelity National Information Services by 49.1% in the third quarter. Mizuho Markets Americas LLC now owns 4,609,169 shares of the information technology services provider’s stock valued at $303,929,000 after buying an additional 1,518,200 shares during the period. 96.23% of the stock is currently owned by institutional investors.

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.