Trade Report: The Cantor Fitzgerald Begins Coverage on Fidelity National Information Services Inc. (FIS)

The Cantor Fitzgerald Begins Coverage on Fidelity National Information Services Inc. (FIS)

Cantor Fitzgerald assumed coverage on shares of Fidelity National Information Services Inc. (NYSE:FIS) in a report published on Friday. The brokerage issued a buy rating and a $89.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Compass Point boosted their price objective on shares of Fidelity National Information Services from $78.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, July 27th. Monness Crespi & Hardt boosted their target price on shares of Fidelity National Information Services from $84.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, July 27th. Citigroup Inc. boosted their target price on shares of Fidelity National Information Services from $79.00 to $91.00 and gave the company a buy rating in a research note on Wednesday, July 27th. Stephens reiterated a buy rating and set a $90.00 target price on shares of Fidelity National Information Services in a research note on Wednesday, July 27th. Finally, Zacks Investment Research upgraded shares of Fidelity National Information Services from a sell rating to a buy rating and set a $90.00 target price for the company in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Fidelity National Information Services currently has an average rating of Buy and an average target price of $86.11.

Fidelity National Information Services (NYSE:FIS) opened at 76.49 on Friday. The stock’s 50 day moving average price is $77.91 and its 200-day moving average price is $74.05. Fidelity National Information Services has a 12-month low of $55.11 and a 12-month high of $81.67. The firm has a market cap of $25.08 billion, a PE ratio of 52.28 and a beta of 0.82.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Fidelity National Information Services had a net margin of 5.75% and a return on equity of 12.37%. The company earned $2.30 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. Equities research analysts anticipate that Fidelity National Information Services will post $3.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, September 14th. Fidelity National Information Services’s dividend payout ratio is 68.87%.

In other news, Director Keith W. Hughes sold 10,133 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $80.05, for a total transaction of $811,146.65. Following the sale, the director now directly owns 33,158 shares in the company, valued at approximately $2,654,297.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Anthony M. Jabbour sold 145,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $75.89, for a total transaction of $11,004,050.00. Following the sale, the chief operating officer now owns 301,754 shares in the company, valued at $22,900,111.06. The disclosure for this sale can be found here. Insiders own 2.29% of the company’s stock.

Several hedge funds have recently made changes to their positions in FIS. CIBC World Markets Inc. acquired a new stake in shares of Fidelity National Information Services during the first quarter valued at about $575,000. Teachers Advisors Inc. boosted its stake in shares of Fidelity National Information Services by 0.3% in the first quarter. Teachers Advisors Inc. now owns 431,706 shares of the company’s stock valued at $27,331,000 after buying an additional 1,140 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Fidelity National Information Services by 4.4% in the first quarter. BlackRock Fund Advisors now owns 5,187,791 shares of the company’s stock valued at $328,439,000 after buying an additional 217,133 shares in the last quarter. Sentry Investment Management LLC boosted its stake in shares of Fidelity National Information Services by 9.6% in the first quarter. Sentry Investment Management LLC now owns 18,109 shares of the company’s stock valued at $1,146,000 after buying an additional 1,591 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Fidelity National Information Services during the first quarter valued at about $105,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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