OLD National Bancorp IN Makes New Investment in Fidelity National Information Services, Inc. (NYSE:FIS)

OLD National Bancorp IN acquired a new position in Fidelity National Information Services, Inc. (NYSE:FIS) in the fourth quarter, HoldingsChannel reports. The fund acquired 11,414 shares of the information technology services provider’s stock, valued at approximately $686,000.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Fidelity National Information Services in the third quarter worth about $25,000. Baystate Wealth Management LLC raised its holdings in Fidelity National Information Services by 332.1% in the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 372 shares in the last quarter. BKM Wealth Management LLC bought a new position in Fidelity National Information Services in the fourth quarter worth about $35,000. Criterion Capital Advisors LLC bought a new position in Fidelity National Information Services in the fourth quarter worth about $40,000. Finally, ORG Partners LLC acquired a new position in shares of Fidelity National Information Services during the fourth quarter valued at about $48,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Information Services Trading Up 0.8 %

Shares of NYSE:FIS opened at $71.90 on Wednesday. Fidelity National Information Services, Inc. has a 1 year low of $46.91 and a 1 year high of $74.75. The firm has a market capitalization of $41.45 billion, a price-to-earnings ratio of -6.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50 day moving average price is $69.62 and its 200-day moving average price 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 the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $1.71 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services Cuts Dividend

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

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

Analyst Ratings Changes

FIS has been the topic of several recent analyst reports. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Bank of America upped their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI upped their target price 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. BNP Paribas lowered Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group started coverage on Fidelity National Information Services in a research report on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price on the stock. Eight investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.59.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein bought 775 shares of the business’s stock in a transaction on 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 purchase, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.68% of the company’s stock.

About Fidelity National Information Services

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.