Salem Investment Counselors Inc. Sells 284 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Salem Investment Counselors Inc. trimmed its position in shares of Fidelity National Information Services, Inc. (NYSE:FISFree Report) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,260 shares of the information technology services provider’s stock after selling 284 shares during the period. Salem Investment Counselors Inc.’s holdings in Fidelity National Information Services were worth $76,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FIS. Acadian Asset Management LLC grew its stake in Fidelity National Information Services by 491.5% in the 1st quarter. Acadian Asset Management LLC now owns 3,904 shares of the information technology services provider’s stock worth $391,000 after acquiring an additional 3,244 shares in the last quarter. Synovus Financial Corp lifted its position in Fidelity National Information Services by 71.6% during the first quarter. Synovus Financial Corp now owns 9,791 shares of the information technology services provider’s stock valued at $982,000 after acquiring an additional 4,085 shares during the last quarter. Prudential PLC purchased a new stake in Fidelity National Information Services during the first quarter valued at approximately $1,173,000. Baird Financial Group Inc. raised its holdings in shares of Fidelity National Information Services by 8.2% in the first quarter. Baird Financial Group Inc. now owns 194,714 shares of the information technology services provider’s stock worth $19,553,000 after buying an additional 14,819 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Fidelity National Information Services by 83.3% in the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after buying an additional 130 shares during the last quarter. 85.67% of the stock is currently owned by institutional investors.

Fidelity National Information Services Price Performance

Shares of FIS stock opened at $71.11 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50-day moving average is $65.01 and its two-hundred day moving average is $59.09. Fidelity National Information Services, Inc. has a 12 month low of $46.91 and a 12 month high of $72.36. The company has a market capitalization of $40.99 billion, a PE ratio of -6.33, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Fidelity National Information Services (NYSE:FISGet Free Report) last issued its earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $1.71 earnings per share. Fidelity National Information Services’s revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current year.

Fidelity National Information Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio is presently -12.81%.

Fidelity National Information Services declared that its Board of Directors has authorized a share repurchase plan on Monday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FIS. UBS Group raised their price target on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Mizuho raised their price target on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 price target on the stock. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Finally, Robert W. Baird downgraded shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $78.00 in a report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Check Out Our Latest Stock Report on Fidelity National Information Services

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Ellen R. Alemany purchased 735 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was acquired at an average cost of $60.32 per share, for a total transaction of $44,335.20. Following the completion of the transaction, the director now directly owns 35,333 shares in the company, valued at $2,131,286.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

About Fidelity National Information Services

(Free Report)

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.

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Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

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