Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Fidelity National Information Services (NYSE:FIS) Stock

Fidelity National Information Services (NYSE:FIS - Free Report) had its price objective hoisted by Keefe, Bruyette & Woods from $97.00 to $102.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider's stock.

Several other research analysts have also issued reports on FIS. JPMorgan Chase & Co. increased their target price on Fidelity National Information Services from $89.00 to $99.00 and gave the stock an "overweight" rating in a research report on Tuesday. Morgan Stanley upped their target price on shares of Fidelity National Information Services from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Robert W. Baird lifted their price target on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the company a "neutral" rating in a research report on Tuesday. Jefferies Financial Group upped their price objective on shares of Fidelity National Information Services from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Finally, Bank of America boosted their price target on 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. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Fidelity National Information Services has a consensus rating of "Moderate Buy" and a consensus price target of $88.75.

Fidelity National Information Services Stock Performance

Shares of NYSE:FIS traded down $3.13 during trading on Tuesday, hitting $86.57. 5,952,961 shares of the company were exchanged, compared to its average volume of 3,759,391. The stock has a 50 day moving average of $85.64 and a 200 day moving average of $79.06. 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 $47.23 billion, a PE ratio of 34.55, a P/E/G ratio of 0.79 and a beta of 1.06. Fidelity National Information Services has a 52-week low of $49.91 and a 52-week high of $91.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its earnings results on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.29 by $0.11. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. As a group, equities research analysts predict that Fidelity National Information Services will post 5.09 EPS for the current year.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services's dividend payout ratio (DPR) is presently 57.37%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein acquired 626 shares of Fidelity National Information Services stock in a transaction dated Tuesday, October 15th. The stock was purchased at an average cost 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. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kennebec Savings Bank acquired a new stake in Fidelity National Information Services during the 3rd quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Fidelity National Information Services in the 2nd quarter valued at about $30,000. Concord Wealth Partners lifted its stake in Fidelity National Information Services by 50.2% in the 3rd quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider's stock worth $37,000 after purchasing an additional 146 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Fidelity National Information Services during the 2nd quarter worth approximately $35,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Fidelity National Information Services in the second quarter valued at approximately $35,000. Hedge funds and other 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.