Fidelity National Information Services (NYSE:FIS) Reaches New 12-Month High – Here’s Why

Fidelity National Information Services, Inc. (NYSE:FIS) hit a new 52-week high on Friday . The company traded as high as $91.21 and last traded at $90.97, with a volume of 143952 shares. The stock had previously closed at $90.33.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FIS. Bank of America upped 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 research report on Tuesday, September 17th. Keefe, Bruyette & Woods raised their price objective on shares of Fidelity National Information Services from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Oppenheimer began coverage on shares of Fidelity National Information Services in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Morgan Stanley cut Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 target price on the stock. in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on Fidelity National Information Services from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.30.

Fidelity National Information Services Trading Down 0.0 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.35 and a quick ratio of 1.35. The business’s 50-day moving average is $83.89 and its two-hundred day moving average is $77.97. The firm has a market cap of $50.24 billion, a P/E ratio of -8.83, a P/E/G ratio of 0.77 and a beta of 1.08.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.13. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company earned $1.55 EPS. Fidelity National Information Services’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts predict that Fidelity National Information Services, Inc. will post 5.08 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 10th. Fidelity National Information Services’s payout ratio is presently -14.08%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 626 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was purchased at an average price of $88.25 per share, for a total transaction of $55,244.50. Following the completion of the purchase, the director now directly owns 10,397 shares in the company, valued at $917,535.25. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fidelity National Information Services

A number of institutional investors and hedge funds have recently modified their holdings of FIS. Wealth Enhancement Advisory Services LLC boosted its position in Fidelity National Information Services by 1.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 102,718 shares of the information technology services provider’s stock worth $7,620,000 after purchasing an additional 1,417 shares during the period. Artemis Investment Management LLP boosted its stake in Fidelity National Information Services by 310.4% in the 1st quarter. Artemis Investment Management LLP now owns 234,024 shares of the information technology services provider’s stock valued at $17,357,000 after purchasing an additional 177,007 shares during the period. BKM Wealth Management LLC grew its holdings in Fidelity National Information Services by 50.2% in the 1st quarter. BKM Wealth Management LLC now owns 868 shares of the information technology services provider’s stock valued at $64,000 after buying an additional 290 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Fidelity National Information Services by 18.6% during the first quarter. AlphaMark Advisors LLC now owns 1,750 shares of the information technology services provider’s stock worth $130,000 after buying an additional 275 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Fidelity National Information Services in the first quarter valued at about $1,608,000. 96.23% of the stock is owned by institutional investors.

About Fidelity National Information Services

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.