Meeder Advisory Services Inc. Sells 620 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Meeder Advisory Services Inc. cut its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,352 shares of the information technology services provider’s stock after selling 620 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Fidelity National Information Services were worth $502,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on FIS. 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 research report on Wednesday, March 13th. 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 report on Wednesday, February 28th. Morgan Stanley raised their target price on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They set a “buy” rating and a $84.00 target price on the stock. Finally, Evercore ISI raised their target price on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Fidelity National Information Services has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Fidelity National Information Services Stock Performance

Shares of FIS stock opened at $73.08 on Tuesday. Fidelity National Information Services, Inc. has a fifty-two week low of $46.91 and a fifty-two week high of $74.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50-day simple moving average is $67.56 and its 200-day simple moving average is $60.37.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 earnings per share. As a group, sell-side analysts forecast that Fidelity National Information Services, Inc. will post 4.66 EPS 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 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

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

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Ellen R. Alemany bought 735 shares of the stock in a transaction dated Wednesday, January 17th. The shares were purchased at an average price 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 $2,131,286.56. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.68% of the company’s stock.

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.