abrdn plc Has $39.08 Million Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

abrdn plc boosted its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 23.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 650,566 shares of the information technology services provider’s stock after buying an additional 123,707 shares during the period. abrdn plc’s holdings in Fidelity National Information Services were worth $39,080,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FIS. Xponance Inc. raised its holdings in shares of Fidelity National Information Services by 1.2% in the fourth quarter. Xponance Inc. now owns 75,008 shares of the information technology services provider’s stock valued at $4,506,000 after purchasing an additional 900 shares during the last quarter. Twin Capital Management Inc. raised its holdings in shares of Fidelity National Information Services by 31.5% in the fourth quarter. Twin Capital Management Inc. now owns 64,658 shares of the information technology services provider’s stock valued at $3,884,000 after purchasing an additional 15,475 shares during the last quarter. HF Advisory Group LLC raised its holdings in shares of Fidelity National Information Services by 19.3% in the fourth quarter. HF Advisory Group LLC now owns 14,357 shares of the information technology services provider’s stock valued at $862,000 after purchasing an additional 2,324 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Fidelity National Information Services by 93.6% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,423 shares of the information technology services provider’s stock valued at $85,000 after purchasing an additional 688 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Fidelity National Information Services by 7.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 59,079 shares of the information technology services provider’s stock valued at $3,549,000 after purchasing an additional 3,904 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein acquired 775 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is currently owned by company insiders.

Fidelity National Information Services Trading Up 0.8 %

Shares of Fidelity National Information Services stock opened at $71.30 on Tuesday. The firm has a 50-day moving average of $69.40 and a 200-day moving average of $61.51. The stock has a market cap of $41.10 billion, a PE ratio of -6.34, a PEG ratio of 0.89 and a beta of 0.97. Fidelity National Information Services, Inc. has a 52-week low of $46.91 and a 52-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.

Fidelity National Information Services (NYSE:FIS) last announced its 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 during the quarter, compared to the consensus estimate of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 EPS. 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 announced that its board has authorized a stock 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 usually a sign that the company’s leadership believes its stock is undervalued.

Fidelity National Information Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.02%. Fidelity National Information Services’s payout ratio is presently -12.81%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FIS shares. UBS Group lifted their price objective on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They set a “buy” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Truist Financial boosted their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Finally, Morgan Stanley boosted 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 report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services 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.