Mirae Asset Global Investments Co. Ltd. Cuts Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Mirae Asset Global Investments Co. Ltd. cut its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 436,313 shares of the information technology services provider’s stock after selling 34,991 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Fidelity National Information Services worth $26,209,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its position in Fidelity National Information Services by 10.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 178,231 shares of the information technology services provider’s stock valued at $10,723,000 after purchasing an additional 16,337 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in shares of Fidelity National Information Services during the fourth quarter worth about $278,000. International Assets Investment Management LLC purchased a new stake in shares of Fidelity National Information Services during the fourth quarter worth about $2,461,000. Commonwealth Retirement Investments LLC increased its position in shares of Fidelity National Information Services by 1.2% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 23,543 shares of the information technology services provider’s stock worth $1,414,000 after acquiring an additional 276 shares during the last quarter. Finally, CFO4Life Group LLC purchased a new stake in shares of Fidelity National Information Services during the fourth quarter worth about $229,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FIS. UBS Group lifted their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Mizuho lifted their price target on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Robert W. Baird downgraded Fidelity National Information Services from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $78.00 in a research note on Wednesday, March 13th. 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, JPMorgan Chase & Co. boosted their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Fidelity National Information Services Price Performance

NYSE FIS opened at $73.08 on Tuesday. The stock has a market capitalization of $42.13 billion, a P/E ratio of -6.50, a P/E/G ratio of 0.91 and a beta of 0.97. Fidelity National Information Services, Inc. has a 1 year low of $46.91 and a 1 year high of $74.75. The business’s fifty day moving average is $67.56 and its two-hundred day moving average is $60.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75.

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 the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company posted $1.71 EPS. Fidelity National Information Services’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

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

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Ellen R. Alemany bought 735 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were bought at an average cost of $60.32 per share, with a total value of $44,335.20. Following the purchase, the director now directly owns 35,333 shares in the company, valued at $2,131,286.56. The transaction was disclosed in a legal filing with the SEC, which is available at 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.