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Upgrade Alert for Fidelity National Information Services (FIS)

By Amy Schwartz

Fidelity National Information Services (NYSE:FIS) was upgraded from Buy to Conviction Buy at Goldman Sachs today. The stock closed yesterday at $71.31 on volume of 8.4 million shares, above average daily volume of 1.9 million.

FIS is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 33,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is ranked 426 on the Fortune 500, is a member of Standard & Poor’s 500 Index and consistently holds a leading ranking in the annual FinTech 100 list.

Potential upside of 7.4% exists for Fidelity National Information Services, based on a current level of $71.29 and analysts' average consensus price target of $76.53. The stock should find initial support at its 200-day moving average (MA) of $64.47 and further support at its 50-day MA of $62.94.

Over the past year, Fidelity National Information Services has traded in a range of $55.11 to $73.60 and closed yesterday at $71.29, 29% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Fidelity National Information Services on March 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.14. Since that recommendation, shares of Fidelity National Information Services have risen 8.1%. We continue to monitor FIS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades fidelity national information services

Ticker(s): FIS