Keefe, Bruyette & Woods Downgrades Fidelity National Information Services (NYSE:FIS) to Market Perform

Fidelity National Information Services (NYSE:FIS – Get Rating) was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report released on Sunday, The Fly reports.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird lifted their target price on shares of Fidelity National Information Services from $120.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, September 6th. Evercore ISI upgraded shares of Fidelity National Information Services from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $115.00 to $135.00 in a research report on Monday, June 13th. Wells Fargo & Company lowered shares of Fidelity National Information Services from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $96.00 to $88.00 in a report on Thursday, September 8th. Morgan Stanley lowered their price objective on shares of Fidelity National Information Services from $102.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, June 30th. Finally, Citigroup lowered their price objective on shares of Fidelity National Information Services to $128.00 in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.33.

Fidelity National Information Services Stock Performance

Shares of FIS traded down $1.43 during trading hours on Friday, hitting $84.26. The company’s stock had a trading volume of 11,194,398 shares, compared to its average volume of 3,771,965. The company has a market cap of $51.23 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 0.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $95.77 and a two-hundred day simple moving average of $97.11. Fidelity National Information Services has a 52-week low of $82.98 and a 52-week high of $126.20.

Fidelity National Information Services (NYSE:FIS – Get Rating) last posted its earnings results on Thursday, August 4th. The information technology services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.01. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.67 billion. Fidelity National Information Services had a net margin of 5.88% and a return on equity of 8.95%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities analysts expect that Fidelity National Information Services will post 7.07 earnings per share for the current fiscal year.

Insider Transactions at Fidelity National Information Services

In related news, CEO Gary Norcross sold 80,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $90.89, for a total value of $7,271,200.00. Following the completion of the sale, the chief executive officer now directly owns 846,643 shares of the company’s stock, valued at approximately $76,951,382.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gary Norcross sold 80,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $90.89, for a total value of $7,271,200.00. Following the completion of the sale, the chief executive officer now directly owns 846,643 shares of the company’s stock, valued at approximately $76,951,382.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lenore D. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the executive vice president now directly owns 21,334 shares of the company’s stock, valued at $2,133,400. The disclosure for this sale can be found here. Insiders have sold 207,240 shares of company stock worth $18,934,354 in the last quarter. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Fidelity National Information Services by 33.8% in the second quarter. Federated Hermes Inc. now owns 480,215 shares of the information technology services provider’s stock valued at $44,022,000 after purchasing an additional 121,376 shares in the last quarter. Private Trust Co. NA bought a new stake in Fidelity National Information Services in the second quarter worth $96,000. Royal London Asset Management Ltd. lifted its position in Fidelity National Information Services by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 216,973 shares of the information technology services provider’s stock worth $19,898,000 after buying an additional 2,342 shares during the last quarter. Verition Fund Management LLC lifted its position in Fidelity National Information Services by 221.0% in the second quarter. Verition Fund Management LLC now owns 10,184 shares of the information technology services provider’s stock worth $933,000 after buying an additional 18,600 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in Fidelity National Information Services by 169.5% in the second quarter. Raleigh Capital Management Inc. now owns 1,291 shares of the information technology services provider’s stock worth $125,000 after buying an additional 812 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

About Fidelity National Information Services

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Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.

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Analyst Recommendations for Fidelity National Information Services (NYSE:FIS)

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