SVB Wealth LLC Decreases Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

SVB Wealth LLC cut its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 33.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,985 shares of the information technology services provider’s stock after selling 4,054 shares during the quarter. SVB Wealth LLC’s holdings in Fidelity National Information Services were worth $480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Fidelity National Information Services by 51.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider’s stock worth $166,408,000 after buying an additional 1,016,719 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Fidelity National Information Services in the 4th quarter valued at about $1,244,000. Korea Investment CORP lifted its holdings in Fidelity National Information Services by 5.5% in the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock valued at $11,890,000 after purchasing an additional 11,181 shares in the last quarter. Value Holdings Management CO. LLC lifted its holdings in Fidelity National Information Services by 77.4% in the 3rd quarter. Value Holdings Management CO. LLC now owns 173,000 shares of the information technology services provider’s stock valued at $9,562,000 after purchasing an additional 75,500 shares in the last quarter. Finally, Verity & Verity LLC purchased a new position in Fidelity National Information Services in the 3rd quarter valued at about $7,096,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fidelity National Information Services

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 purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

FIS has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Robert W. Baird lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. Truist Financial increased their price objective on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Finally, Evercore ISI increased their price objective on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Eight investment 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 stock. According to data from MarketBeat.com, Fidelity National Information Services currently has an average rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services Stock Up 1.0 %

Shares of NYSE:FIS opened at $70.73 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services, Inc. has a 52-week low of $46.91 and a 52-week high of $74.75. The company has a 50 day moving average of $69.22 and a two-hundred day moving average of $61.34. The company has a market capitalization of $40.77 billion, a price-to-earnings ratio of -6.29, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share 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 for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the business posted $1.71 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its Board of Directors has initiated a stock buyback program on Monday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s payout ratio is currently -12.81%.

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.