Wealth Alliance Lowers Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Wealth Alliance lowered its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,291 shares of the information technology services provider’s stock after selling 597 shares during the period. Wealth Alliance’s holdings in Fidelity National Information Services were worth $858,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Fidelity National Information Services by 51.0% during the third quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider’s stock valued at $166,408,000 after acquiring an additional 1,016,719 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Fidelity National Information Services during the fourth quarter valued at about $1,244,000. Korea Investment CORP grew its position in Fidelity National Information Services by 5.5% during the third quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock valued at $11,890,000 after acquiring an additional 11,181 shares during the period. Value Holdings Management CO. LLC grew its position in Fidelity National Information Services by 77.4% during the third quarter. Value Holdings Management CO. LLC now owns 173,000 shares of the information technology services provider’s stock valued at $9,562,000 after acquiring an additional 75,500 shares during the period. Finally, Verity & Verity LLC purchased a new stake in shares of Fidelity National Information Services in the third quarter worth about $7,096,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Price Performance

FIS opened at $70.65 on Wednesday. The stock has a fifty day moving average of $68.70 and a 200-day moving average of $61.05. The firm has a market capitalization of $40.73 billion, a P/E ratio of -6.29, a PEG ratio of 0.89 and a beta of 0.97. Fidelity National Information Services, Inc. has a 12-month low of $46.91 and a 12-month high of $74.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last released its 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 negative net margin of 54.30% and a positive return on equity of 13.06%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $1.71 EPS. Fidelity National Information Services’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts forecast that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

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

Fidelity National Information Services declared that its board has approved a stock buyback program on Monday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TheStreet upgraded Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. 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 report on Tuesday, March 26th. Robert W. Baird lowered 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 report on Wednesday, March 13th. Truist Financial upped their target price 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. Finally, Morgan Stanley upped their target price 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. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $71.59.

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.