Federated Hermes Inc. Cuts Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Federated Hermes Inc. decreased its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 86.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,620 shares of the information technology services provider’s stock after selling 481,248 shares during the quarter. Federated Hermes Inc.’s holdings in Fidelity National Information Services were worth $4,482,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. HF Advisory Group LLC increased its holdings in Fidelity National Information Services by 19.3% during the 4th quarter. HF Advisory Group LLC now owns 14,357 shares of the information technology services provider’s stock worth $862,000 after purchasing an additional 2,324 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Fidelity National Information Services by 93.6% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,423 shares of the information technology services provider’s stock worth $85,000 after purchasing an additional 688 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Fidelity National Information Services by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 59,079 shares of the information technology services provider’s stock valued at $3,549,000 after acquiring an additional 3,904 shares during the last quarter. Desjardins Global Asset Management Inc. increased its holdings in shares of Fidelity National Information Services by 249.6% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 41,747 shares of the information technology services provider’s stock valued at $2,508,000 after acquiring an additional 29,804 shares during the last quarter. Finally, United Asset Strategies Inc. increased its holdings in shares of Fidelity National Information Services by 31.9% in the 4th quarter. United Asset Strategies Inc. now owns 13,066 shares of the information technology services provider’s stock valued at $785,000 after acquiring an additional 3,159 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction dated 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 acquisition, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FIS shares. Truist Financial increased their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Morgan Stanley increased their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Evercore ISI increased their price objective on Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Bank of America increased their price objective on Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Robert W. Baird cut Fidelity National Information Services from an “outperform” rating to a “neutral” rating and upped their target price for the company from $76.00 to $78.00 in a research report on Wednesday, March 13th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.59.

Fidelity National Information Services Stock Down 1.2 %

Fidelity National Information Services stock opened at $69.59 on Friday. Fidelity National Information Services, Inc. has a twelve month low of $46.91 and a twelve month high of $74.75. The stock has a 50 day moving average of $70.04 and a two-hundred day moving average of $61.89. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $40.12 billion, a price-to-earnings ratio of -6.19, a PEG ratio of 0.89 and a beta of 0.97.

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 the consensus estimate of $0.95 by ($0.01). The business had revenue of $2.51 billion during the quarter, compared to analyst estimates 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%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 earnings per share. As a group, research analysts expect that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current year.

Fidelity National Information Services declared that its board has authorized a stock repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Fidelity National Information Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.07%. Fidelity National Information Services’s dividend payout ratio is currently -12.81%.

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.