NewEdge Wealth LLC Sells 2,909 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

NewEdge Wealth LLC decreased its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,369 shares of the information technology services provider’s stock after selling 2,909 shares during the quarter. NewEdge Wealth LLC’s holdings in Fidelity National Information Services were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FIS. Moneta Group Investment Advisors LLC acquired a new position in Fidelity National Information Services in the fourth quarter valued at about $449,526,000. Vanguard Group Inc. raised its position in shares of Fidelity National Information Services by 12.7% during the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock worth $3,199,306,000 after purchasing an additional 6,503,451 shares during the period. Norges Bank acquired a new stake in shares of Fidelity National Information Services during the fourth quarter worth about $390,114,000. JANA Partners Management LP acquired a new stake in shares of Fidelity National Information Services during the third quarter worth about $206,507,000. Finally, Lazard Asset Management LLC raised its position in shares of Fidelity National Information Services by 660.0% during the third quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider’s stock worth $183,944,000 after purchasing an additional 2,890,185 shares during the period. Institutional investors and hedge funds own 96.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on 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 raised Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. UBS Group raised their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Morgan Stanley lifted their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Truist Financial lifted their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Eight investment 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, Fidelity National Information Services currently has an average rating of “Moderate Buy” and a consensus target price of $70.81.

Insider Activity at Fidelity National Information Services

In other news, Director Ellen R. Alemany purchased 735 shares of Fidelity National Information Services stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS opened at $70.95 on Monday. 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 12 month low of $46.91 and a 12 month high of $74.75. The stock has a 50 day moving average of $68.34 and a 200-day moving average of $60.84. The company has a market capitalization of $40.90 billion, a P/E ratio of -6.31, a P/E/G ratio of 0.90 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts predict that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 annualized dividend and a yield of 2.03%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

Fidelity National Information Services announced that its board has initiated a stock buyback plan on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.