Marks Group Wealth Management Inc Sells 5,011 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Marks Group Wealth Management Inc reduced its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,990 shares of the information technology services provider’s stock after selling 5,011 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Fidelity National Information Services were worth $2,102,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FIS. OFI Invest Asset Management bought a new position in shares of Fidelity National Information Services during the third quarter worth approximately $25,000. Baystate Wealth Management LLC boosted its position in shares of Fidelity National Information Services by 332.1% during the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 372 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC acquired a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $40,000. Finally, ORG Partners LLC acquired a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $48,000. 96.23% of the stock is owned by institutional investors.

Fidelity National Information Services Trading Up 1.2 %

FIS traded up $0.87 during midday trading on Tuesday, reaching $72.17. The company had a trading volume of 2,030,411 shares, compared to its average volume of 4,408,688. 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, Inc. has a 12-month low of $46.91 and a 12-month high of $74.75. The business has a 50-day moving average price of $69.40 and a two-hundred day moving average price of $61.51.

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 for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations 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 revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 earnings per share. On average, sell-side 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 yield of 2.00%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services announced that its board has initiated a stock repurchase 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 typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FIS. Bank of America increased their price target on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Thursday, April 11th. Robert W. Baird lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $76.00 to $78.00 in a research report on Wednesday, March 13th. Morgan Stanley raised their target price on shares of 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. Finally, Mizuho raised their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Eight investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.59.

Insider Buying and Selling at Fidelity National Information Services

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

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.