First Trust Direct Indexing L.P. Grows Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

First Trust Direct Indexing L.P. raised its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 13.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,877 shares of the information technology services provider’s stock after acquiring an additional 1,278 shares during the period. First Trust Direct Indexing L.P.’s holdings in Fidelity National Information Services were worth $653,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in shares of Fidelity National Information Services during the third quarter worth $25,000. Baystate Wealth Management LLC lifted its stake in shares of Fidelity National Information Services by 332.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 372 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Fidelity National Information Services in the fourth quarter valued at about $35,000. Criterion Capital Advisors LLC acquired a new position in shares of Fidelity National Information Services during the fourth quarter worth about $40,000. Finally, ORG Partners LLC purchased a new position in Fidelity National Information Services during the fourth quarter worth about $48,000. 96.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FIS has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Evercore ISI lifted their price target on Fidelity National Information Services from $62.00 to $75.00 and gave the company an “in-line” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased 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. Royal Bank of Canada boosted their target price on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target for the company. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services currently has an average rating of “Moderate Buy” and an average target price of $72.50.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Fidelity National Information Services Stock Performance

FIS stock opened at $70.72 on Friday. The company has a quick ratio of 0.75, a current 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 stock’s 50 day moving average price is $70.56 and its 200 day moving average price is $62.46.

Fidelity National Information Services (NYSE:FIS) last released 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). The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates 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%. Fidelity National Information Services’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.71 earnings per share. As a group, research analysts forecast that Fidelity National Information Services, Inc. will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is -12.81%.

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

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.