Royal Bank of Canada Cuts Fidelity National Information Services (NYSE:FIS) Price Target to $95.00

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

FIS has been the subject of several other research reports. Jefferies Financial Group lifted their target price on shares of Fidelity National Information Services from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Compass Point reduced their target price on shares of Fidelity National Information Services from $126.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James downgraded shares of Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $115.00 to $101.00 in a research note on Monday, January 6th. UBS Group lifted their target price on shares of Fidelity National Information Services from $80.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company reduced their target price on shares of Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $87.95.

Fidelity National Information Services Stock Performance

NYSE FIS opened at $68.84 on Wednesday. Fidelity National Information Services has a 52-week low of $62.17 and a 52-week high of $91.98. The company has a 50-day simple moving average of $80.53 and a 200 day simple moving average of $82.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $37.06 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, research analysts predict that Fidelity National Information Services will post 5.18 EPS for the current year.

Fidelity National Information Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.60 annualized dividend and a yield of 2.32%. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.36. Fidelity National Information Services’s dividend payout ratio is currently 61.30%.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 701 shares of the stock in a transaction on Wednesday, January 15th. The shares were acquired at an average price of $79.97 per share, for a total transaction of $56,058.97. Following the purchase, the director now owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. The trade was a 6.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors have recently made changes to their positions in FIS. Norges Bank bought a new stake in Fidelity National Information Services during the 4th quarter worth approximately $635,202,000. Raymond James Financial Inc. bought a new stake in shares of Fidelity National Information Services during the fourth quarter valued at approximately $451,458,000. Raymond James & Associates raised its position in shares of Fidelity National Information Services by 449.8% during the third quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock valued at $343,693,000 after buying an additional 3,357,329 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Fidelity National Information Services by 100.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider’s stock valued at $261,037,000 after buying an additional 1,616,146 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Fidelity National Information Services by 1,390.5% during the fourth quarter. KBC Group NV now owns 1,180,258 shares of the information technology services provider’s stock valued at $95,330,000 after buying an additional 1,101,072 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

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.