Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Fidelity National Info (NYSE: FIS) today and set a price target of $111. The company’s shares opened today at $101.80, close to its 52-week high of $103.65.
Foresi observed:
“The demand backdrop is improving. IFS (51% of Revs; 3% organic cc growth; 90% recurring Revs) had its strongest sales qtr in 1Q in five years. The focus for IFS is innovation, rolling out new products while focusing on areas like banking, payments ($8 trn), digital, and APIs. GFS (45% of Revs; 5% organic cc growth; 70% recurring Revs) is focused on innovation around multi assets class, lifecycle solutions, open APIs, payment-as-a-service, and next generations offering. GFS has been a margin expansion story primarily due to cost take out at Sungard.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.8% and a 82.9% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Exlservice Holdings, and Global Payments Inc.
Currently, the analyst consensus on Fidelity National Info is Strong Buy and the average price target is $111.83, representing a 9.9% upside.
In a report issued on May 1, Oppenheimer also maintained a Buy rating on the stock with a $105 price target.
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Based on Fidelity National Info’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.07 billion and net profit of $182 million. In comparison, last year the company earned revenue of $2.26 billion and had a net profit of $138 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, James Woodall, the Corporate EVP – CFO of FIS sold 87,194 shares for a total of $8,759,509.
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Fidelity National Information Services, Inc. is a financial services technology company, which focuses on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting and outsourcing solutions.
