Perigon Wealth Management LLC Sells 229 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Perigon Wealth Management LLC cut its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,960 shares of the information technology services provider’s stock after selling 229 shares during the quarter. Perigon Wealth Management LLC’s holdings in Fidelity National Information Services were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Sapient Capital LLC bought a new position in shares of Fidelity National Information Services during the fourth quarter worth about $1,076,000. Seelaus Asset Management LLC bought a new position in shares of Fidelity National Information Services during the fourth quarter worth about $555,000. GHP Investment Advisors Inc. grew its holdings in shares of Fidelity National Information Services by 2.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 22,101 shares of the information technology services provider’s stock worth $1,328,000 after buying an additional 509 shares in the last quarter. Kendall Capital Management grew its holdings in shares of Fidelity National Information Services by 27.4% during the fourth quarter. Kendall Capital Management now owns 10,830 shares of the information technology services provider’s stock worth $651,000 after buying an additional 2,330 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Fidelity National Information Services in the fourth quarter valued at approximately $1,244,000. 96.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The shares were acquired 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on FIS. TheStreet upgraded Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Mizuho raised their price target on Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley lifted their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their target price on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Bank of America lifted their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.59.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $70.35 on Thursday. The stock has a market cap of $40.55 billion, a P/E ratio of -6.26, a PEG ratio of 0.89 and a beta of 0.97. The stock has a 50 day simple moving average of $68.87 and a 200 day simple moving average of $61.11. The company has a current ratio of 0.75, a quick 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.

Fidelity National Information Services (NYSE:FIS) last posted 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 business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the firm posted $1.71 EPS. Fidelity National Information Services’s quarterly revenue was down .6% on a year-over-year basis. Research analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current year.

Fidelity National Information Services announced that its board has approved a share repurchase plan on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Fidelity National Information Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 2.05%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

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.