California Public Employees Retirement System Sells 7,983 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

California Public Employees Retirement System reduced its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,028,389 shares of the information technology services provider’s stock after selling 7,983 shares during the quarter. California Public Employees Retirement System owned 0.34% of Fidelity National Information Services worth $121,845,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC boosted its position in shares of Fidelity National Information Services by 22.6% during the third quarter. CWM LLC now owns 9,544 shares of the information technology services provider’s stock worth $527,000 after buying an additional 1,758 shares during the period. AE Wealth Management LLC boosted its position in shares of Fidelity National Information Services by 34.5% during the third quarter. AE Wealth Management LLC now owns 11,680 shares of the information technology services provider’s stock worth $646,000 after buying an additional 2,994 shares during the period. Global Retirement Partners LLC boosted its position in shares of Fidelity National Information Services by 10.5% during the third quarter. Global Retirement Partners LLC now owns 7,059 shares of the information technology services provider’s stock worth $383,000 after buying an additional 672 shares during the period. Impact Partnership Wealth LLC boosted its position in shares of Fidelity National Information Services by 2,642.4% during the third quarter. Impact Partnership Wealth LLC now owns 905 shares of the information technology services provider’s stock worth $50,000 after buying an additional 872 shares during the period. Finally, Counterpoint Mutual Funds LLC boosted its position in shares of Fidelity National Information Services by 12.5% during the third quarter. Counterpoint Mutual Funds LLC now owns 1,978 shares of the information technology services provider’s stock worth $109,000 after buying an additional 220 shares during the period. 96.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FIS has been the subject of several recent research reports. Mizuho upped their price objective on 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. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 price target for the company. Morgan Stanley increased their price target on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. UBS Group increased their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Finally, Evercore ISI increased their price target on Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.59.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction on Monday, April 15th. The shares were purchased at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now directly owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Fidelity National Information Services Trading Up 0.8 %

Shares of NYSE FIS opened at $71.90 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services, Inc. has a 1-year low of $46.91 and a 1-year high of $74.75. The business’s 50 day moving average is $69.62 and its 200-day moving average is $61.64.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data 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). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the business earned $1.71 EPS. Fidelity National Information Services’s revenue was down .6% on a year-over-year basis. Analysts expect that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 2.00%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

Fidelity National Information Services announced that its Board of Directors has authorized a share buyback plan on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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.