BNP Paribas Downgrades Fidelity National Information Services (NYSE:FIS) to Neutral

Fidelity National Information Services (NYSE:FIS) was downgraded by BNP Paribas from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $72.00 target price on the information technology services provider’s stock. BNP Paribas’ price target suggests a potential upside of 1.48% from the company’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group increased their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Truist Financial increased their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Royal Bank of Canada raised their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services has a consensus rating of “Moderate Buy” and a consensus target price of $70.81.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $70.95 on Thursday. Fidelity National Information Services has a fifty-two week low of $46.91 and a fifty-two week high of $74.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The company has a fifty day moving average of $68.34 and a two-hundred day moving average of $60.76. The stock has a market capitalization of $40.90 billion, a PE ratio of -6.31, a P/E/G ratio of 0.92 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts forecast that Fidelity National Information Services will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its board has authorized a share repurchase plan on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Ellen R. Alemany purchased 735 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was purchased at an average price of $60.32 per share, with a total value of $44,335.20. Following the completion of the transaction, the director now owns 35,333 shares of the company’s stock, valued at approximately $2,131,286.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

A number of large investors have recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. acquired a new position in Fidelity National Information Services during the 2nd quarter worth $54,000. JPMorgan Chase & Co. grew its holdings in Fidelity National Information Services by 51.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider’s stock worth $166,408,000 after acquiring an additional 1,016,719 shares in the last quarter. Korea Investment CORP lifted its position in shares of Fidelity National Information Services by 5.5% in the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock worth $11,890,000 after buying an additional 11,181 shares during the last quarter. Value Holdings Management CO. LLC lifted its position in shares of Fidelity National Information Services by 77.4% in the 3rd quarter. Value Holdings Management CO. LLC now owns 173,000 shares of the information technology services provider’s stock worth $9,562,000 after buying an additional 75,500 shares during the last quarter. Finally, Verity & Verity LLC bought a new position in shares of Fidelity National Information Services in the 3rd quarter worth about $7,096,000. 96.23% of the stock is owned by institutional investors and hedge funds.

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.