Morgan Stanley Forecasts Strong Price Appreciation for Fidelity National Information Services (NYSE:FIS) Stock

Fidelity National Information Services (NYSE:FIS) had its price target lifted by Morgan Stanley from $87.00 to $92.00 in a report released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology services provider’s stock.

Several other equities research analysts have also recently issued reports on the company. Susquehanna lifted their price objective on Fidelity National Information Services from $88.00 to $103.00 and gave the stock a “positive” rating in a report on Tuesday, November 5th. Compass Point began coverage on Fidelity National Information Services in a research report on Wednesday, November 20th. They set a “buy” rating and a $126.00 price target for the company. Mizuho raised their price objective on Fidelity National Information Services from $91.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. BNP Paribas cut shares of Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group boosted their price target on shares of Fidelity National Information Services from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.75.

Fidelity National Information Services Trading Up 1.6 %

NYSE:FIS opened at $81.46 on Wednesday. The stock has a market capitalization of $43.85 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 0.72 and a beta of 1.03. Fidelity National Information Services has a 52 week low of $58.24 and a 52 week high of $91.98. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $86.85 and a 200 day moving average of $81.72.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Monday, November 4th. The information technology services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, sell-side analysts anticipate that Fidelity National Information Services will post 5.18 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 yield of 1.77%. The ex-dividend date is Monday, December 9th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 57.37%.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 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 purchase, the director now owns 10,397 shares in the company, valued at approximately $917,535.25. This represents a 6.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lenore D. Williams sold 11,305 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $87.97, for a total value of $994,500.85. Following the completion of the transaction, the executive vice president now directly owns 32,199 shares in the company, valued at $2,832,546.03. This trade represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Several large investors have recently bought and sold shares of the company. CENTRAL TRUST Co increased its stake in Fidelity National Information Services by 757.9% during the 3rd quarter. CENTRAL TRUST Co now owns 11,831 shares of the information technology services provider’s stock worth $991,000 after buying an additional 10,452 shares during the period. Franklin Resources Inc. lifted its stake in shares of Fidelity National Information Services by 9.2% in the third quarter. Franklin Resources Inc. now owns 1,339,235 shares of the information technology services provider’s stock worth $117,571,000 after acquiring an additional 112,842 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fidelity National Information Services by 51.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,747 shares of the information technology services provider’s stock valued at $6,344,000 after purchasing an additional 25,701 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Fidelity National Information Services during the 3rd quarter valued at approximately $590,000. Finally, Chase Investment Counsel Corp increased its holdings in Fidelity National Information Services by 52.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 65,790 shares of the information technology services provider’s stock worth $5,509,000 after purchasing an additional 22,742 shares during the last quarter. Institutional investors and hedge funds 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.