EdgeRock Capital LLC Takes Position in Fidelity National Information Services, Inc. (NYSE:FIS)

EdgeRock Capital LLC bought a new stake in Fidelity National Information Services, Inc. (NYSE:FIS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 471 shares of the information technology services provider’s stock, valued at approximately $29,000.

A number of other large investors have also added to or reduced their stakes in FIS. Vanguard Group Inc. boosted its position in Fidelity National Information Services by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after buying an additional 6,503,451 shares during the last quarter. JANA Partners Management LP acquired a new stake in Fidelity National Information Services during the 3rd quarter valued at approximately $206,507,000. Lazard Asset Management LLC increased its holdings in Fidelity National Information Services by 660.0% during the 3rd quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider’s stock worth $183,944,000 after purchasing an additional 2,890,185 shares during the last quarter. London Co. of Virginia grew its position in shares of Fidelity National Information Services by 59.4% during the third quarter. London Co. of Virginia now owns 7,069,492 shares of the information technology services provider’s stock worth $390,731,000 after buying an additional 2,633,196 shares in the last quarter. Finally, Parnassus Investments LLC increased its stake in shares of Fidelity National Information Services by 163.0% in the third quarter. Parnassus Investments LLC now owns 3,924,014 shares of the information technology services provider’s stock worth $216,880,000 after buying an additional 2,432,150 shares during the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.

Fidelity National Information Services Stock Performance

NYSE FIS traded down $0.26 on Wednesday, hitting $74.05. The stock had a trading volume of 5,420,379 shares, compared to its average volume of 4,481,281. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $75.71. 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 stock has a market cap of $41.58 billion, a price-to-earnings ratio of -6.59, a P/E/G ratio of 0.88 and a beta of 0.98. The company’s 50-day moving average is $70.79 and its two-hundred day moving average is $62.91.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.96 by $0.14. The firm 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 54.30% and a positive return on equity of 13.06%. Fidelity National Information Services’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, analysts expect that Fidelity National Information Services, Inc. will post 4.71 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

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 paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

Fidelity National Information Services announced that its Board of Directors has approved a stock buyback plan on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Stephens reissued an “overweight” rating and issued a $90.00 target price on shares of Fidelity National Information Services in a research report on Tuesday. Bank of America boosted their target price on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna boosted their target price on shares of Fidelity National Information Services from $81.00 to $86.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fidelity National Information Services from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fidelity National Information Services currently has an average rating of “Moderate Buy” and an average target price of $76.79.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.68% of the company’s stock.

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.