Royal Bank of Canada Forecasts Strong Price Appreciation for Fidelity National Information Services (NYSE:FIS) Stock

Fidelity National Information Services (NYSE:FIS) had its price objective increased by Royal Bank of Canada from $95.00 to $104.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 20.36% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Jefferies Financial Group lifted their price objective on 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. Barclays boosted their price target on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Stephens lifted their target price on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. TD Cowen increased their price target on Fidelity National Information Services from $75.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Bank of America boosted their price objective on Fidelity National Information Services from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Ten 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. Based on data from MarketBeat, Fidelity National Information Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Fidelity National Information Services Price Performance

Shares of NYSE:FIS opened at $86.41 on Tuesday. Fidelity National Information Services has a one year low of $49.91 and a one year high of $91.98. 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 company has a market cap of $47.14 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 0.79 and a beta of 1.06. The firm has a 50 day simple moving average of $85.85 and a 200 day simple moving average of $79.22.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. Fidelity National Information Services’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. Research analysts predict that Fidelity National Information Services will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein acquired 626 shares of the firm’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 purchase, the director now owns 10,397 shares in the company, valued at approximately $917,535.25. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Several large investors have recently made changes to their positions in FIS. Janney Montgomery Scott LLC raised its position in Fidelity National Information Services by 15.5% in the first quarter. Janney Montgomery Scott LLC now owns 118,326 shares of the information technology services provider’s stock worth $8,777,000 after acquiring an additional 15,865 shares during the period. Fidelis Capital Partners LLC bought a new position in Fidelity National Information Services during the first quarter valued at $54,000. Nordea Investment Management AB increased its position in Fidelity National Information Services by 2.3% in the first quarter. Nordea Investment Management AB now owns 43,236 shares of the information technology services provider’s stock worth $3,222,000 after buying an additional 971 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Fidelity National Information Services by 154.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,754 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 1,670 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of Fidelity National Information Services by 11.8% during the 1st quarter. GSA Capital Partners LLP now owns 6,407 shares of the information technology services provider’s stock valued at $475,000 after buying an additional 677 shares during the last quarter. 96.23% of the stock is owned by hedge funds and other 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.