The Manufacturers Life Insurance Company Purchases 8,428 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

The Manufacturers Life Insurance Company raised its position in Fidelity National Information Services, Inc. (NYSE:FISFree Report) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 420,507 shares of the information technology services provider’s stock after buying an additional 8,428 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Fidelity National Information Services worth $25,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FIS. Keybank National Association OH boosted its position in Fidelity National Information Services by 11.4% in the third quarter. Keybank National Association OH now owns 4,829 shares of the information technology services provider’s stock valued at $267,000 after buying an additional 496 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Fidelity National Information Services by 10.6% in the third quarter. Janney Montgomery Scott LLC now owns 123,107 shares of the information technology services provider’s stock valued at $6,804,000 after buying an additional 11,758 shares in the last quarter. Gabelli Funds LLC acquired a new position in Fidelity National Information Services in the third quarter valued at about $221,000. Pathstone Family Office LLC boosted its position in Fidelity National Information Services by 77.4% in the third quarter. Pathstone Family Office LLC now owns 21,233 shares of the information technology services provider’s stock valued at $1,175,000 after buying an additional 9,265 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Fidelity National Information Services by 66.2% in the third quarter. HighTower Advisors LLC now owns 142,134 shares of the information technology services provider’s stock valued at $7,844,000 after buying an additional 56,633 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the acquisition, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Fidelity National Information Services from $75.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 target price on the stock. UBS Group upped their target price on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Truist Financial upped their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Finally, Morgan Stanley upped their target price on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Fidelity National Information Services presently has a consensus rating of “Moderate Buy” and an average target price of $78.74.

View Our Latest Analysis on Fidelity National Information Services

Fidelity National Information Services Stock Up 1.5 %

Shares of NYSE:FIS opened at $77.53 on Friday. The company has a market capitalization of $43.13 billion, a PE ratio of -7.58, a PEG ratio of 0.78 and a beta of 1.05. Fidelity National Information Services, Inc. has a 52 week low of $46.91 and a 52 week high of $78.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.52 and a current ratio of 1.52. The company has a 50 day moving average price of $73.55 and a two-hundred day moving average price of $66.73.

Fidelity National Information Services (NYSE:FISGet Free Report) last released its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Fidelity National Information Services had a negative net margin of 54.14% and a positive return on equity of 13.91%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. Analysts forecast that Fidelity National Information Services, Inc. will post 4.96 earnings per share for the current year.

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

Fidelity National Information Services Announces Dividend

The business 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 $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -14.08%.

About Fidelity National Information Services

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding FIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelity National Information Services, Inc. (NYSE:FISFree Report).

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

Receive News & Ratings for Fidelity National Information Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity National Information Services and related companies with MarketBeat.com's FREE daily email newsletter.