Ellenbecker Investment Group Reduces Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Ellenbecker Investment Group lessened its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,547 shares of the information technology services provider’s stock after selling 486 shares during the period. Ellenbecker Investment Group’s holdings in Fidelity National Information Services were worth $273,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Capital Investment Advisory Services LLC purchased a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $264,000. OLD National Bancorp IN purchased a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $686,000. Criterion Capital Advisors LLC purchased a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $40,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Fidelity National Information Services by 1.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,228 shares of the information technology services provider’s stock valued at $3,257,000 after buying an additional 802 shares during the period. Finally, abrdn plc grew its stake in shares of Fidelity National Information Services by 23.5% in the 4th quarter. abrdn plc now owns 650,566 shares of the information technology services provider’s stock valued at $39,080,000 after buying an additional 123,707 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in 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 research report on Friday, February 23rd. Royal Bank of Canada increased their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” 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 price objective for the company. in a research report on Thursday, April 11th. UBS Group increased their price objective 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. 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 research report on Tuesday, March 26th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services has an average rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services Price Performance

NYSE:FIS traded up $0.60 during midday trading on Tuesday, hitting $71.90. 4,256,127 shares of the company were exchanged, compared to its average volume of 4,443,244. The company has a fifty day simple moving average of $69.40 and a 200 day simple moving average of $61.51. Fidelity National Information Services, Inc. has a fifty-two week low of $46.91 and a fifty-two week high of $74.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $1.71 earnings per share. Fidelity National Information Services’s revenue was down .6% compared to the same quarter last year. Research analysts expect that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.00%. 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 announced that its Board of Directors has authorized a stock buyback plan on Monday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction on Monday, April 15th. The shares were bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now 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 the SEC website. 0.68% of the stock is currently owned by insiders.

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.