Wells Fargo & Company Has Lowered Expectations for Fidelity National Information Services (NYSE:FIS) Stock Price

Fidelity National Information Services (NYSE:FIS) had its target price trimmed by Wells Fargo & Company from $88.00 to $80.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

A number of other brokerages have also recently issued reports on FIS. Robert W. Baird increased their price objective on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their target price on shares of Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James lowered shares of Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $115.00 to $101.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Fidelity National Information Services from $89.00 to $99.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, TD Cowen upped their target price on shares of Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Fidelity National Information Services presently has an average rating of “Hold” and an average price target of $87.95.

Fidelity National Information Services Price Performance

NYSE:FIS opened at $68.84 on Wednesday. Fidelity National Information Services has a one year low of $62.17 and a one year high of $91.98. The stock has a market cap of $37.06 billion, a P/E ratio of 27.43, a PEG ratio of 0.63 and a beta of 1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day moving average price of $80.53 and a 200 day moving average price of $82.78.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted $0.94 earnings per share. Analysts anticipate that Fidelity National Information Services will post 5.18 earnings per share for the current year.

Fidelity National Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Tuesday, March 11th. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.36. Fidelity National Information Services’s dividend payout ratio (DPR) is 61.30%.

Insider Activity

In other news, Director Jeffrey A. Goldstein purchased 701 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average cost of $79.97 per share, for a total transaction of $56,058.97. Following the transaction, the director now directly owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. The trade was a 6.74 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Fidelity National Information Services by 94.1% in the 3rd quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 159 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Fidelity National Information Services in the 3rd quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $30,000. Groupama Asset Managment raised its position in shares of Fidelity National Information Services by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 42,342 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 319 shares during the period. Finally, Concord Wealth Partners raised its position in shares of 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 valued at $37,000 after acquiring an additional 146 shares during the period. 96.23% of the stock is currently owned by institutional investors and hedge funds.

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.