Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Fidelity National Info (NYSE: FIS) today and set a price target of $108. The company’s shares closed yesterday at $94.97.
Foresi commented:
“1Q18 revenues beat expectations and adjusted EPS ahead of projections. Adjusted revenue was $2.07 bn, down -3.8% y/y (+3.3% organically), vs. our estimate of $2.12 bn and the FactSet consensus of $2.04 bn. Adjusted EPS of $1.09 was up 32% y/y, vs. our estimate of $1.02 and the consensus of $1.05. The EPS beat was driven by continued operational effectiveness, with 340 bps of y/ y adjusted EBITDA margin expansion, 120 bps ahead of our projection (34.1% vs. 32.9%).”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.8% and a 81.8% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, DXC Technology Company, and Exlservice Holdings.
Currently, the analyst consensus on Fidelity National Info is Strong Buy and the average price target is $110.20, representing a 16.0% upside.
In a report issued on April 18, Credit Suisse also maintained a Buy rating on the stock with a $112 price target.
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The company has a one-year high of $103.65 and a one-year low of $81.72. Currently, Fidelity National Info has an average volume of 1.65M.
Based on the recent corporate insider activity of 65 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. It operates through the following business segments: Integrated Financial Solutions, Global Financial Solutions, and Corporate & Other. The Integrated Financial Solutions segment focuses on serving the North American regional and community bank market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services, capitalizing on the continuing trend to outsource these solutions. The Global Financial Solutions segment serves the largest financial institutions around the globe with banking and payments solutions, as well as consulting and transformation services. The Corporate & Other segment consists of corporate overhead expense, certain leveraged functions and miscellaneous expenses that are not included in the operating segments. The company was founded in 1968 and is headquartered in Jacksonville, FL.
