Oppenheimer analyst Glenn Greene reiterated a Buy rating on Fidelity National Info (NYSE: FIS) today and set a price target of $118. The company’s shares opened today at $103.19, close to its 52-week high of $103.65.
Greene said:
“Event, we remain encouraged by the company’s growth, margin expansion and EPS growth prospects. FIS anticipates organic revenue growth acceleration to 4% and 10-13% EPS growth from 2019-2021, which appears reasonable and assumes 75-125bps of annual EBITDA margin expansion (benefits from data center consolidation initiatives). The demand environment appears modestly improved and IFS/GFS growth expectations remain healthy. FIS maintains balance sheet flexibility although we suspect more aggressive near term share repurchase activity in absence of attractive M&A opportunities. FIS should continue to generate strong FCF, which we suspect will be sustainable >100% of NI. FIS trades at 17.5x our ~13% discount to its closest peer (FISV). We reiterate our Outperform rating and raise our PT to $118 (from $105).”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 21.2% and a 85.1% 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 $111.83, representing an 8.4% upside.
In a report issued on May 1, Cantor Fitzgerald also maintained a Buy rating on the stock with a $111 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.
