Raymond James & Associates Sells 52,394 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Raymond James & Associates decreased its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 680,141 shares of the information technology services provider’s stock after selling 52,394 shares during the period. Raymond James & Associates owned 0.12% of Fidelity National Information Services worth $50,453,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Fidelity National Information Services by 12.7% in the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock worth $3,199,306,000 after buying an additional 6,503,451 shares during the period. FIL Ltd boosted its position in shares of Fidelity National Information Services by 27.3% during the fourth quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock valued at $773,552,000 after purchasing an additional 2,758,049 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fidelity National Information Services by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock worth $506,753,000 after purchasing an additional 121,154 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in Fidelity National Information Services by 6.8% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock worth $505,956,000 after purchasing an additional 537,180 shares in the last quarter. Finally, Norges Bank purchased a new position in Fidelity National Information Services during the fourth quarter valued at $478,594,000. 96.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FIS shares. Evercore ISI upped their price target on Fidelity National Information Services from $62.00 to $75.00 and gave the stock an “in-line” rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. BNP Paribas cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Thursday, April 11th. UBS Group increased their price target on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, Truist Financial boosted 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. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.50.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein bought 775 shares of the stock in a transaction on Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the purchase, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Fidelity National Information Services Trading Up 1.9 %

Fidelity National Information Services stock traded up $1.29 during mid-day trading on Friday, hitting $70.72. The company’s stock had a trading volume of 3,571,205 shares, compared to its average volume of 3,578,831. Fidelity National Information Services, Inc. has a 1 year low of $46.91 and a 1 year high of $74.75. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $39.71 billion, a PE ratio of -6.29, a price-to-earnings-growth ratio of 0.87 and a beta of 0.98. The stock’s fifty day moving average is $70.56 and its two-hundred day moving average is $62.46.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. Fidelity National Information Services’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 earnings per share. On average, analysts anticipate that Fidelity National Information Services, Inc. will post 4.71 EPS for the current year.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s payout ratio is currently -12.81%.

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

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.