Fidelity National Information Services (NYSE:FIS) Upgraded to "Buy" at TD Cowen

TD Cowen upgraded shares of Fidelity National Information Services (NYSE:FIS - Free Report) from a hold rating to a buy rating in a report issued on Monday morning, MarketBeat Ratings reports. TD Cowen currently has $92.00 target price on the information technology services provider's stock.

FIS has been the subject of several other research reports. Barclays decreased their price objective on Fidelity National Information Services from $102.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada lowered their price target on Fidelity National Information Services from $104.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 12th. UBS Group dropped their price objective on Fidelity National Information Services from $94.00 to $81.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Stephens lowered their target price on shares of Fidelity National Information Services from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, February 12th. Finally, William Blair reaffirmed an "outperform" rating on shares of Fidelity National Information Services in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.29.

Fidelity National Information Services Stock Down 0.6 %

Shares of NYSE:FIS traded down $0.48 during mid-day trading on Monday, reaching $79.39. 4,097,959 shares of the stock were exchanged, compared to its average volume of 3,541,266. The stock's 50 day simple moving average is $72.08 and its 200-day simple moving average is $79.58. Fidelity National Information Services has a one year low of $66.51 and a one year high of $91.98. The company has a market cap of $42.05 billion, a P/E ratio of 30.42, a P/E/G ratio of 1.23 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.05. Fidelity National Information Services had a net margin of 14.54% and a return on equity of 17.30%. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, equities research analysts predict that Fidelity National Information Services will post 5.74 EPS for the current year.

Fidelity National Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.40 per share. This is a boost from Fidelity National Information Services's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.60 annualized dividend and a yield of 2.02%. Fidelity National Information Services's dividend payout ratio (DPR) is presently 61.30%.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 844 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was bought at an average cost of $72.04 per share, for a total transaction of $60,801.76. Following the completion of the transaction, the director now owns 11,942 shares in the company, valued at approximately $860,301.68. This represents a 7.60 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fidelity National Information Services

A number of hedge funds have recently added to or reduced their stakes in the stock. Saxon Interests Inc. grew its holdings in shares of Fidelity National Information Services by 4.3% during the 1st quarter. Saxon Interests Inc. now owns 7,897 shares of the information technology services provider's stock worth $590,000 after purchasing an additional 324 shares in the last quarter. Kendall Capital Management lifted its position in Fidelity National Information Services by 6.0% during the first quarter. Kendall Capital Management now owns 10,545 shares of the information technology services provider's stock worth $788,000 after purchasing an additional 595 shares during the period. Ameritas Advisory Services LLC grew its stake in Fidelity National Information Services by 269.6% during the first quarter. Ameritas Advisory Services LLC now owns 13,745 shares of the information technology services provider's stock worth $1,046,000 after buying an additional 10,026 shares in the last quarter. Amalgamated Bank increased its holdings in Fidelity National Information Services by 0.4% in the 1st quarter. Amalgamated Bank now owns 105,573 shares of the information technology services provider's stock valued at $7,884,000 after buying an additional 436 shares during the period. Finally, KBC Group NV raised its position in shares of Fidelity National Information Services by 0.5% in the 1st quarter. KBC Group NV now owns 1,186,638 shares of the information technology services provider's stock valued at $88,618,000 after buying an additional 6,380 shares in the last quarter. Institutional investors own 96.23% of the company's stock.

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.