Zurcher Kantonalbank Zurich Cantonalbank Has $13.83 Million Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 47.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,273 shares of the information technology services provider’s stock after selling 208,696 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fidelity National Information Services were worth $13,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. grew its position in shares of Fidelity National Information Services by 83.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Fidelity National Information Services in the 3rd quarter valued at $25,000. Baystate Wealth Management LLC increased its stake in shares of Fidelity National Information Services by 332.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 372 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Fidelity National Information Services during the 2nd quarter worth $46,000. Finally, BKM Wealth Management LLC bought a new position in Fidelity National Information Services in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 96.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FIS. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. upped 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. Mizuho upped their price objective on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Evercore ISI upped 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. Finally, 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 price objective for the company. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.59.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction on Monday, April 15th. The stock was acquired at an average cost 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Fidelity National Information Services Stock Down 0.5 %

Fidelity National Information Services stock opened at $70.00 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $40.35 billion, a price-to-earnings ratio of -6.23, a PEG ratio of 0.89 and a beta of 0.97. The firm has a 50 day moving average price of $69.04 and a two-hundred day moving average price of $61.18. Fidelity National Information Services, Inc. has a 52-week low of $46.91 and a 52-week high of $74.75.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analyst estimates 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%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.71 earnings per share. Equities analysts predict that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services declared that its Board of Directors has initiated a share repurchase plan 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.