Morgan Stanley Issues Pessimistic Forecast for Fidelity National Information Services (NYSE:FIS) Stock Price

Fidelity National Information Services (NYSE:FIS) had its price objective reduced by equities researchers at Morgan Stanley from $92.00 to $86.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 22.15% from the company’s current price.

FIS has been the topic of several other reports. Compass Point initiated coverage on shares of Fidelity National Information Services in a report on Wednesday, November 20th. They set a “buy” rating and a $126.00 target price on the stock. BNP Paribas cut shares of Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods lowered their price target 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. Mizuho raised their price target on shares of Fidelity National Information Services from $91.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fidelity National Information Services from $89.00 to $99.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment 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’s stock. According to MarketBeat.com, Fidelity National Information Services has a consensus rating of “Hold” and a consensus target price of $87.95.

Fidelity National Information Services Stock Down 3.0 %

Shares of Fidelity National Information Services stock opened at $70.41 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.18. Fidelity National Information Services has a 1 year low of $61.62 and a 1 year high of $91.98. The firm’s 50-day moving average is $80.83 and its two-hundred day moving average is $82.87. The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 0.63 and a beta of 1.04.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the business posted $0.94 EPS. As a group, research analysts expect that Fidelity National Information Services will post 5.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein bought 701 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was purchased at an average cost of $79.97 per share, with a total value of $56,058.97. Following the acquisition, the director now directly owns 11,098 shares in the company, valued at $887,507.06. This trade represents a 6.74 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fidelity National Information Services

Several institutional investors have recently made changes to their positions in FIS. CX Institutional increased its holdings in shares of Fidelity National Information Services by 4.0% during the 3rd quarter. CX Institutional now owns 4,422 shares of the information technology services provider’s stock valued at $370,000 after purchasing an additional 170 shares in the last quarter. Creative Planning increased its holdings in shares of Fidelity National Information Services by 6.9% during the 3rd quarter. Creative Planning now owns 69,023 shares of the information technology services provider’s stock valued at $5,781,000 after purchasing an additional 4,452 shares in the last quarter. Swedbank AB increased its holdings in shares of Fidelity National Information Services by 1.3% during the 3rd quarter. Swedbank AB now owns 360,769 shares of the information technology services provider’s stock valued at $30,214,000 after purchasing an additional 4,642 shares in the last quarter. SPC Financial Inc. purchased a new stake in Fidelity National Information Services in the 3rd quarter worth $327,000. Finally, ZWJ Investment Counsel Inc. increased its holdings in Fidelity National Information Services by 0.9% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 145,799 shares of the information technology services provider’s stock worth $12,211,000 after acquiring an additional 1,309 shares in the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

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.