Citigroup Upgrades Fidelity National Information Services (NYSE:FIS) to Buy

Fidelity National Information Services (NYSE:FIS) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday,Finviz reports. The firm currently has a $86.00 target price on the information technology services provider’s stock, up from their previous target price of $79.00. Citigroup’s target price indicates a potential upside of 15.23% from the stock’s previous close.

A number of other research firms also recently weighed in on FIS. Morgan Stanley dropped their price target on Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Susquehanna lowered Fidelity National Information Services from a “positive” rating to a “neutral” rating and reduced their target price for the company from $103.00 to $81.00 in a report on Wednesday, February 12th. Royal Bank of Canada lowered their price objective on shares of 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 decreased their price objective on Fidelity National Information Services from $94.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Barclays cut their price target 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.05.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS opened at $74.63 on Monday. The stock’s fifty day moving average price is $71.39 and its two-hundred day moving average price is $79.68. Fidelity National Information Services has a one year low of $66.51 and a one year high of $91.98. The firm has a market cap of $39.53 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 1.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Fidelity National Information Services (NYSE:FIS) last released its earnings results 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 return on equity of 17.30% and a net margin of 14.54%. During the same period in the previous year, the firm earned $0.94 EPS. On average, equities analysts forecast that Fidelity National Information Services will post 5.74 EPS for the current year.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 844 shares of the stock in a transaction on Tuesday, April 15th. The stock was bought at an average price of $72.04 per share, with a total value of $60,801.76. Following the completion of the purchase, the director now directly owns 11,942 shares in the company, valued at $860,301.68. This represents a 7.60 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Fidelity National Information Services

Several hedge funds have recently modified their holdings of the stock. Insigneo Advisory Services LLC grew its position in shares of Fidelity National Information Services by 10.1% in the 1st quarter. Insigneo Advisory Services LLC now owns 7,138 shares of the information technology services provider’s stock valued at $533,000 after buying an additional 656 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in shares of Fidelity National Information Services by 16.0% in the first quarter. Sagespring Wealth Partners LLC now owns 18,159 shares of the information technology services provider’s stock worth $1,356,000 after acquiring an additional 2,502 shares during the last quarter. Great Lakes Retirement Inc. lifted its position in Fidelity National Information Services by 5.0% during the first quarter. Great Lakes Retirement Inc. now owns 24,751 shares of the information technology services provider’s stock worth $1,848,000 after buying an additional 1,173 shares during the period. Sowell Financial Services LLC acquired a new position in Fidelity National Information Services during the first quarter worth approximately $743,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in Fidelity National Information Services by 74.8% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 152,016 shares of the information technology services provider’s stock valued at $11,353,000 after acquiring an additional 65,073 shares during the last quarter. 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.