Nicholas Hoffman & Company LLC. Reduces Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Nicholas Hoffman & Company LLC. lessened its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 28.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,716 shares of the information technology services provider’s stock after selling 3,908 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Fidelity National Information Services were worth $584,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of 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. State Street Corp boosted its position in shares of Fidelity National Information Services by 1.4% during the first quarter. State Street Corp now owns 26,456,658 shares of the information technology services provider’s stock valued at $1,437,381,000 after buying an additional 367,417 shares during the period. Geode Capital Management LLC boosted its position in shares of Fidelity National Information Services by 1.0% during the first quarter. Geode Capital Management LLC now owns 10,572,297 shares of the information technology services provider’s stock valued at $573,144,000 after buying an additional 107,041 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 valued at $458,850,000 after buying an additional 33,881 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Fidelity National Information Services by 10.6% in the third quarter. Northern Trust Corp now owns 7,423,200 shares of the information technology services provider’s stock valued at $410,280,000 after purchasing an additional 708,947 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Stock Performance

Shares of FIS stock traded up $0.73 during trading hours on Friday, reaching $70.73. 5,607,672 shares of the company’s stock were exchanged, compared to its average volume of 3,478,542. The stock’s 50 day moving average is $69.22 and its 200-day moving average is $61.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. Fidelity National Information Services, Inc. has a fifty-two week low of $46.91 and a fifty-two week high of $74.75.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company posted $1.71 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts expect that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

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

Fidelity National Information Services Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s payout ratio is -12.81%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 775 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FIS. Robert W. Baird lowered Fidelity National Information Services from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $78.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. boosted their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. The Goldman Sachs Group began coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target for the company. Royal Bank of Canada boosted their price target on Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, UBS Group boosted their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.