Fidelity National Information Services, Inc. (NYSE:FIS) Stock Position Lowered by Arizona State Retirement System

Arizona State Retirement System reduced its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,687 shares of the information technology services provider’s stock after selling 1,004 shares during the period. Arizona State Retirement System’s holdings in Fidelity National Information Services were worth $10,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FIS. Laurel Wealth Advisors Inc. lifted its position in shares of Fidelity National Information Services by 1.5% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,529 shares of the information technology services provider’s stock valued at $756,000 after acquiring an additional 111 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Fidelity National Information Services by 3.8% in the 1st quarter. EP Wealth Advisors LLC now owns 3,098 shares of the information technology services provider’s stock valued at $311,000 after purchasing an additional 112 shares during the period. Brown Brothers Harriman & Co. increased its stake in Fidelity National Information Services by 83.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Fidelity National Information Services by 9.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 203 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Fidelity National Information Services by 30.6% during the second quarter. Farther Finance Advisors LLC now owns 879 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 206 shares in the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $72.44 on Friday. The firm has a market capitalization of $41.76 billion, a PE ratio of -6.44, a PEG ratio of 0.91 and a beta of 0.97. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services, Inc. has a 1 year low of $46.91 and a 1 year high of $74.75. The firm’s fifty day simple moving average is $67.37 and its 200 day simple moving average is $60.24.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data 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). The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. On average, sell-side analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services declared that its board has approved a share repurchase program on Monday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Fidelity National Information Services Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors 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 yield of 1.99%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

Insider Activity at Fidelity National Information Services

In other news, Director Ellen R. Alemany purchased 735 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were purchased at an average cost of $60.32 per share, for a total transaction of $44,335.20. Following the completion of the purchase, the director now directly owns 35,333 shares of the company’s stock, valued at approximately $2,131,286.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a research report on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price for the company. Royal Bank of Canada upped their price target on Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Evercore ISI lifted their target price on Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fidelity National Information Services has an average rating of “Moderate Buy” and an average price target of $70.73.

Fidelity National Information Services Company Profile

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.