Fidelity National Information Services, Inc. (NYSE:FIS) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 680,141 shares of the information technology services provider’s stock after selling 52,394 shares during the quarter. Raymond James & Associates’ holdings in Fidelity National Information Services were worth $50,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC increased its holdings in shares of Fidelity National Information Services by 79.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 125,574 shares of the information technology services provider’s stock valued at $6,941,000 after purchasing an additional 55,531 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Fidelity National Information Services by 1.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,489 shares of the information technology services provider’s stock worth $1,740,000 after acquiring an additional 311 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Fidelity National Information Services by 19.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 112,109 shares of the information technology services provider’s stock valued at $6,196,000 after purchasing an additional 18,437 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Fidelity National Information Services by 1.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 286,900 shares of the information technology services provider’s stock worth $15,857,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Fidelity National Information Services by 49.3% in the third quarter. Brown Advisory Inc. now owns 196,630 shares of the information technology services provider’s stock valued at $10,868,000 after buying an additional 64,914 shares in the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Stock Up 1.9 %

Shares of NYSE:FIS traded up $1.29 during midday trading on Friday, reaching $70.72. The company had a trading volume of 3,571,205 shares, compared to its average volume of 3,578,831. The stock has a market capitalization of $39.71 billion, a P/E ratio of -6.29, a PEG ratio of 0.87 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $74.75. The stock’s fifty day moving average price is $70.56 and its 200-day moving average price is $62.46.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the business posted $1.71 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts expect 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 firm 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. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

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

Wall Street Analyst Weigh In

FIS has been the topic of a number of analyst reports. Morgan Stanley increased their target price 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. Mizuho raised their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Evercore ISI boosted their price target on Fidelity National Information Services from $62.00 to $75.00 and gave the company an “in-line” rating in a report on Tuesday. Robert W. Baird lowered Fidelity National Information Services from an “outperform” rating to a “neutral” rating and upped their target price for the company from $76.00 to $78.00 in a research note on Wednesday, March 13th. Finally, Truist Financial increased their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Eight research 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 stock. Based on data from MarketBeat, 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 related news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was purchased at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

About Fidelity National Information Services

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.