Oppenheimer analyst Glenn Greene reiterated a Buy rating on Fidelity National Info (FIS) today and set a price target of $125. The company’s shares opened today at $116.18, close to its 52-week high of $117.98.
Greene commented:
“FIS reported strong 1Q19 results with ~5% Y/Y organic/CC revenue growth (vs. our 2.9% estimate) and EPS of $1.16 (vs. our $1.16 estimate; includes D&A as expense). IFS growth was particularly strong, up 7.3% (vs. our 4.9%) while GFS grew 2.4% (vs. our 0.5%). Sales grew >30% in 1Q19, and FIS remains on track to exceed its sales goal for the year. Encouragingly, FIS raised the low-end of its CY19 revenue guidance, now calling for ~4-4.5% organic CC revenue growth (from 3.5-4.5%), something FIS has not done this early in the year in recent memory. Management also appears increasingly confident the WP transaction will close in 3Q19. FIS remains attractive at ~19x our pro forma FY20E EPS. Reiterate our Outperform rating.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 20.1% and a 85.9% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Total System Services, and Global Payments Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Fidelity National Info with a $129.91 average price target, which is an 11.8% 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.
See today’s analyst top recommended stocks >>
The company has a one-year high of $117.98 and a one-year low of $94.53. Currently, Fidelity National Info has an average volume of 3.24M.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Last month, David K. Hunt, a Director at FIS sold 12,730 shares for a total of $1,406,538.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
