NewEdge Wealth LLC Lowers Position in Fidelity National Information Services, Inc. (NYSE:FIS)

NewEdge Wealth LLC lessened its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 8.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,369 shares of the information technology services provider’s stock after selling 2,909 shares during the period. NewEdge Wealth LLC’s holdings in Fidelity National Information Services were worth $1,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FIS. Laurel Wealth Advisors Inc. raised its position in Fidelity National Information Services by 1.5% during the first quarter. Laurel Wealth Advisors Inc. now owns 7,529 shares of the information technology services provider’s stock valued at $756,000 after purchasing an additional 111 shares in the last quarter. EP Wealth Advisors LLC raised its position in Fidelity National Information Services by 3.8% during the first quarter. EP Wealth Advisors LLC now owns 3,098 shares of the information technology services provider’s stock valued at $311,000 after purchasing an additional 112 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Fidelity National Information Services by 83.3% during the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Fidelity National Information Services by 9.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 203 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Fidelity National Information Services by 30.6% during the second quarter. Farther Finance Advisors LLC now owns 879 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FIS shares. BNP Paribas downgraded Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Thursday. Robert W. Baird downgraded Fidelity National Information Services from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. The Goldman Sachs Group assumed coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price objective on the stock. Morgan Stanley lifted their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.81.

Insider Transactions at Fidelity National Information Services

In related news, Director Ellen R. Alemany purchased 735 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were purchased at an average cost of $60.32 per share, with a total value of $44,335.20. Following the transaction, the director now directly owns 35,333 shares in the company, valued at approximately $2,131,286.56. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.56% of the company’s stock.

Fidelity National Information Services Stock Performance

Shares of FIS opened at $70.95 on Monday. 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 $68.34 and its 200-day moving average price is $60.84. 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 $40.90 billion, a P/E ratio of -6.31, a P/E/G ratio of 0.90 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 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 company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm earned $1.71 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The business also recently declared 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 2.03%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Fidelity National Information Services declared that its board has initiated a stock repurchase plan 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Fidelity National Information Services Company 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.