Fidelity National Information Services, Inc. (NYSE:FIS) Sees Large Drop in Short Interest

Fidelity National Information Services, Inc. (NYSE:FIS) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 11,830,000 shares, a drop of 9.2% from the June 30th total of 13,030,000 shares. Based on an average trading volume of 3,980,000 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Fidelity National Information Services from $75.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. William Blair reissued an “outperform” rating on shares of Fidelity National Information Services in a research note on Tuesday, May 7th. Royal Bank of Canada lifted their price target on shares of Fidelity National Information Services from $82.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. TD Cowen lifted their price target on shares of Fidelity National Information Services from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, Morgan Stanley downgraded shares of Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 target price on the stock. in a research note on Monday, July 22nd. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.42.

Insider Activity

In related news, Director Jeffrey A. Goldstein bought 719 shares of the company’s stock in a transaction on Monday, July 15th. The stock was acquired at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the completion of the transaction, the director now directly owns 9,771 shares in the company, valued at approximately $750,510.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fidelity National Information Services

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Fidelity National Information Services by 19.1% during the 1st quarter. Vanguard Group Inc. now owns 68,658,572 shares of the information technology services provider’s stock valued at $5,093,093,000 after purchasing an additional 11,023,109 shares during the last quarter. FIL Ltd increased its position in shares of Fidelity National Information Services by 27.3% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fidelity National Information Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,619,320 shares of the information technology services provider’s stock valued at $506,753,000 after purchasing an additional 121,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Fidelity National Information Services by 6.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 8,422,766 shares of the information technology services provider’s stock valued at $505,956,000 after purchasing an additional 537,180 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Fidelity National Information Services during the 4th quarter valued at about $478,594,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Stock Down 2.3 %

Fidelity National Information Services stock traded down $1.74 during mid-day trading on Thursday, reaching $75.09. The stock had a trading volume of 2,130,953 shares, compared to its average volume of 4,134,299. Fidelity National Information Services has a one year low of $46.91 and a one year high of $78.73. The company has a 50-day moving average price of $75.87 and a two-hundred day moving average price of $71.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $41.77 billion, a price-to-earnings ratio of -7.51, a PEG ratio of 0.79 and a beta of 1.06.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. Fidelity National Information Services had a positive return on equity of 13.91% and a negative net margin of 54.14%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. Fidelity National Information Services’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Fidelity National Information Services will post 4.94 EPS for the current fiscal year.

About Fidelity National Information Services

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.