Handelsbanken Fonder AB Cuts Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Handelsbanken Fonder AB trimmed its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,685 shares of the information technology services provider’s stock after selling 57,485 shares during the period. Handelsbanken Fonder AB’s holdings in Fidelity National Information Services were worth $9,292,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Fidelity National Information Services by 12.7% during the third 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 period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fidelity National Information Services by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,498,166 shares of the information technology services provider’s stock worth $458,850,000 after purchasing an additional 33,881 shares during the period. Northern Trust Corp boosted its holdings in shares of Fidelity National Information Services by 10.6% during the third quarter. Northern Trust Corp now owns 7,423,200 shares of the information technology services provider’s stock worth $410,280,000 after purchasing an additional 708,947 shares during the period. London Co. of Virginia boosted its holdings 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 purchasing an additional 2,633,196 shares during the period. Finally, Baupost Group LLC MA boosted its holdings in shares of Fidelity National Information Services by 2.7% during the third quarter. Baupost Group LLC MA now owns 6,960,219 shares of the information technology services provider’s stock worth $384,691,000 after purchasing an additional 185,219 shares during the period. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 775 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by insiders.

Fidelity National Information Services Price Performance

Shares of FIS opened at $70.81 on Thursday. The company has a market capitalization of $40.82 billion, a P/E ratio of -6.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. 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 firm has a 50 day moving average of $69.78 and a 200 day moving average of $61.71. Fidelity National Information Services, Inc. has a twelve month low of $46.91 and a twelve month high of $74.75.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.52 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 revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.71 EPS. As a group, equities research analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has initiated a stock buyback program on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Fidelity National Information Services Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America increased 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 report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Truist Financial increased their target price 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. Morgan Stanley raised their price objective on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They issued 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.59.

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.