In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on Fidelity National Info (NYSE: FIS), with a price target of $105. The company’s shares opened today at $97.
Greene commented:
“FIS reported solid 1Q18 results with ~3% Y/Y organic/CC revenue growth and EPS of $1.09 (vs. our/Street’s $1.04/$1.05 estimates) and raised its CY18 profitability outlook, largely reflecting upside quarter. Encouragingly, management, after two consecutive strong sales quarters, acknowledges that the macro demand environment has improved. FIS’s outlook reflects another year of strong margin expansion and ~10pts EPS growth benefit from tax reform net of investments. FIS’s FY18 guidance now anticipates ~3% Y/Y CC revenue growth, and EPS of $5.14-5.34, reflecting 22% EPS growth at midpoint or low double-digit growth adjusted for net tax benefit and ASC 606 drag. We continue to view FIS as attractive at <17x our FY19E EPS. We maintain our Outperform rating and $105 price target."
According to TipRanks.com, Greene is a top 25 analyst with an average return of 21.1% and a 83.6% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Total System Services, and Global Payments Inc.
Currently, the analyst consensus on Fidelity National Info is Strong Buy and the average price target is $110.20, representing a 13.6% 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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Fidelity National Info’s market cap is currently $31.63B and has a P/E ratio of 24.23. The company has a book value ratio of 2.9188.
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 and 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 financial institutions around the globe with banking and payments solutions, as well as consulting and transformation services. The Corporate and 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.
