In a report released yesterday, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Fidelity National Info (FIS), with a price target of $122. The company’s shares closed yesterday at $115.93, close to its 52-week high of $117.98.
Foresi observed:
“: We maintain our Overweight rating and raise our 12-month PT to $134 from $122 on FIS. We believe the company has the opportunity to accelerate revenue growth, improve margins and deleverage, which should have a positive impact on results and multiples. We continue to like FIS’s high visibility and recurring revenue business, which produces a steady stream of mid-single- digit annual revenue growth, which could be accelerated through a better selling environment, margin expansion, and taking market share.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 22.8% and a 89.9% success rate. Foresi covers the Technology sector, focusing on stocks such as International Business Machines Corporation, Jack Henry & Associates, and DXC Technology Company.
Currently, the analyst consensus on Fidelity National Info is a Strong Buy with an average price target of $130.55, a 12.6% upside from current levels. In a report issued on April 18, Citigroup also maintained a Buy rating on the stock with a $132 price target.
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Based on Fidelity National Info’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.17 billion and net profit of $299 million. In comparison, last year the company earned revenue of $2.07 billion and had a net profit of $182 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2019, David K. Hunt, a Director at FIS sold 12,730 shares for a total of $1,406,538.
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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.
