Kestra Private Wealth Services LLC Cuts Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Kestra Private Wealth Services LLC cut its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,083 shares of the information technology services provider’s stock after selling 459 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Fidelity National Information Services were worth $486,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in Fidelity National Information Services in the 3rd 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 valued at $27,000 after acquiring an additional 372 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Fidelity National Information Services during the 4th quarter valued at about $35,000. Criterion Capital Advisors LLC bought a new position in Fidelity National Information Services during the 4th quarter worth approximately $40,000. Finally, ORG Partners LLC purchased a new position in Fidelity National Information Services in the 4th quarter worth approximately $48,000. 96.23% of the stock is currently owned by institutional investors.

Fidelity National Information Services Stock Performance

Shares of FIS opened at $71.40 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average price is $70.64 and its 200-day moving average price is $62.74. Fidelity National Information Services, Inc. has a 52 week low of $46.91 and a 52 week high of $74.75. The stock has a market cap of $40.09 billion, a P/E ratio of -6.35, a P/E/G ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last issued its 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 during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 EPS. Equities research analysts anticipate that Fidelity National Information Services, Inc. will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s payout ratio is presently -12.81%.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FIS. Robert W. Baird cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. Bank of America increased their target price on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. TheStreet upgraded Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Mizuho increased their price objective on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Truist Financial boosted their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.50.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the stock in a transaction dated Monday, April 15th. The shares were purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the acquisition, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by insiders.

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.