Fidelity National Information Services (NYSE:FIS) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of Fidelity National Information Services (NYSE:FIS) from a strong-buy rating to an outperform rating in a research note released on Monday, MarketBeat.com reports. Raymond James currently has $101.00 price target on the information technology services provider’s stock, down from their prior price target of $115.00.

A number of other research analysts have also weighed in on the company. UBS Group increased their price objective on Fidelity National Information Services from $80.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Susquehanna raised their price target on shares of Fidelity National Information Services from $88.00 to $103.00 and gave the stock a “positive” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their price objective on shares of Fidelity National Information Services from $95.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Jefferies Financial Group raised their target price 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, BNP Paribas lowered shares of Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Fidelity National Information Services currently has an average rating of “Moderate Buy” and a consensus target price of $92.19.

Fidelity National Information Services Stock Performance

FIS opened at $78.86 on Monday. The company has a market cap of $42.45 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 0.72 and a beta of 1.04. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $84.91 and its 200-day moving average price is $82.13. Fidelity National Information Services has a 52-week low of $58.24 and a 52-week high of $91.98.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, November 4th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.94 EPS. Fidelity National Information Services’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Fidelity National Information Services will post 5.18 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 9th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.83%. Fidelity National Information Services’s dividend payout ratio is currently 57.37%.

Insider Activity at Fidelity National Information Services

In other news, EVP Lenore D. Williams sold 11,305 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $87.97, for a total value of $994,500.85. Following the completion of the sale, the executive vice president now directly owns 32,199 shares in the company, valued at $2,832,546.03. This represents a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Goldstein acquired 626 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average cost of $88.25 per share, with a total value of $55,244.50. Following the purchase, the director now owns 10,397 shares in the company, valued at $917,535.25. This represents a 6.41 % increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in Fidelity National Information Services by 982.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,895,432 shares of the information technology services provider’s stock worth $293,560,000 after buying an additional 3,535,596 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Fidelity National Information Services by 449.8% during the 3rd quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock worth $343,693,000 after acquiring an additional 3,357,329 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Fidelity National Information Services during the 2nd quarter valued at about $83,562,000. Nordea Investment Management AB increased its position in Fidelity National Information Services by 1,304.8% during the fourth quarter. Nordea Investment Management AB now owns 605,237 shares of the information technology services provider’s stock worth $48,927,000 after purchasing an additional 562,154 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in Fidelity National Information Services during the second quarter worth about $40,029,000. 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.