NuWave Investment Management LLC Lowers Position in Fidelity National Information Services, Inc. (NYSE:FIS)

NuWave Investment Management LLC cut its stake in Fidelity National Information Services, Inc. (NYSE:FISGet Rating) by 77.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,733 shares of the information technology services provider’s stock after selling 9,434 shares during the quarter. NuWave Investment Management LLC’s holdings in Fidelity National Information Services were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd purchased a new stake in shares of Fidelity National Information Services in the fourth quarter worth approximately $35,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Fidelity National Information Services in the fourth quarter worth approximately $39,000. Cordant Inc. grew its holdings in shares of Fidelity National Information Services by 8,260.0% in the fourth quarter. Cordant Inc. now owns 418 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 413 shares in the last quarter. Missouri Trust & Investment Co bought a new position in shares of Fidelity National Information Services in the fourth quarter valued at approximately $48,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of Fidelity National Information Services in the fourth quarter valued at approximately $48,000. 89.51% of the stock is owned by hedge funds and other institutional investors.

NYSE:FIS opened at $92.07 on Thursday. The company has a market cap of $56.23 billion, a P/E ratio of 62.21, a P/E/G ratio of 0.94 and a beta of 0.69. The stock’s fifty day moving average price is $99.37 and its two-hundred day moving average price is $103.05. Fidelity National Information Services, Inc. has a 1 year low of $85.00 and a 1 year high of $152.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.74.

Fidelity National Information Services (NYSE:FISGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.01. Fidelity National Information Services had a return on equity of 8.76% and a net margin of 6.43%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the business posted $1.30 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, analysts expect that Fidelity National Information Services, Inc. will post 7.31 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 10th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.04%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 127.03%.

FIS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Fidelity National Information Services from $155.00 to $116.00 in a report on Wednesday, April 20th. Mizuho reduced their target price on Fidelity National Information Services from $150.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a report on Tuesday, May 17th. They issued a “buy” rating and a $128.00 target price for the company. Evercore ISI raised Fidelity National Information Services from an “in-line” rating to an “outperform” rating and upped their target price for the company from $115.00 to $135.00 in a report on Monday, June 13th. Finally, Stephens began coverage on Fidelity National Information Services in a report on Wednesday, April 6th. They issued an “overweight” rating and a $125.00 target price for the company. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Fidelity National Information Services has a consensus rating of “Moderate Buy” and an average target price of $135.61.

Fidelity National Information Services Profile (Get Rating)

Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.

Further Reading

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Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

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