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Chevy Chase Trust Holdings LLC reduced its holdings in shares of Fidelity National Information Services, Inc. (NYSE: FIS – Free Report ) by 0.6% during the fourth quarter, according to HoldingsChannel.com. The institutional investor owns 333,487 shares of the information technology services provider’s stock after selling 2,060 shares during the quarter. Chevy Chase Trust Holdings LLC’s stake in Fidelity National Information Services was worth $20,033,000 as of the latest SEC filing.
Several other institutional investors have also purchased and sold shares of FIS recently. Moneta Group Investment Advisors LLC acquired a new stake in shares of Fidelity National Information Services in the fourth quarter worth approximately $449,526,000. Vanguard Group Inc. boosted its holdings in Fidelity National Information Services by 12.7% in the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s shares valued at $3,199,306,000 after acquiring an additional 6,503,451 shares during the last quarter. Norges Bank acquired a new stake in Fidelity National Information Services during the fourth quarter worth approximately $390,114,000. JANA Partners Management LP acquired a new stake in shares of Fidelity National Information Services in the third quarter worth approximately $206,507,000. Finally, Lazard Asset Management LLC boosted its holdings in Fidelity National Information Services by 660.0% in the 3rd quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider’s stock valued at $183,944,000 after acquiring an additional 2,890,185 shares during the last quarter. 96.23% of the stock is currently held by institutional investors and hedge funds.
Fidelity National Information Services shares rose 0.8%
FIS stock opened Friday at $72.44. The stock has a market capitalization of $41.76 billion, a P/E ratio of -6.44, a P/E ratio of 0.91, and a beta of 0.97. The company’s 50-day simple moving average is $67.37 and its 200-day simple moving average is $60.24. 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.’s 52-week low is $46.91 and its 52-week high is $74.75.
Fidelity National Information Services (NYSE: FIS – Get Free Report ) last issued its quarterly 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 business had revenue of $2.51 billion in the quarter, compared with analysts’ expectations of $2.52 billion. Fidelity National Information Services has a positive return on equity of 13.06% and a negative net margin of 54.30%. Revenue from this business fell 0.6% compared with the same period last year. In the same quarter last year, the company reported earnings of $1.71 per share. Stock analysts predict that Fidelity National Information Services, Inc. will earn $4.66 per share for the current fiscal year.
Fidelity National Information Services cuts dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record were issued a dividend of $0.36 per share on Friday, March 8th. The ex-dividend date for this dividend is Thursday, March 7. This translates into an annualized dividend of $1.44 and a yield of 1.99%. Fidelity National Information Services Inc.’s current payout ratio is -12.81%.
Fidelity National Information Services announced that its board of directors approved a stock repurchase program on Monday, February 26, allowing the company to repurchase $500 million of outstanding shares. The repurchase authorization allows the information technology services provider to purchase up to 1.3% of its shares through the open market. A stock buyback program usually indicates that a company’s board of directors believes its stock is undervalued.
Wall Street analysts forecast growth
Several equities research analysts have weighed in on the stock. Truist Financial raised their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. UBS Group raised their target price on shares of 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. sex” rating. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Royal Bank of Canada raised their target price on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, 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 report on Tuesday, February 27th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.73.
Read our latest report on FIS
insider trading
In other Fidelity National Information Services news, Director Ellen R. Alemany purchased 735 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were purchased at an average cost of $60.32 per share, for a total transaction value of $44,335.20. Following the completion of the transaction, the director now owns 35,333 shares of the company’s stock, valued at approximately $2,131,286.56. The acquisition was disclosed in a filing with the U.S. Securities and Exchange Commission, which is available on the SEC’s website. 0.56% of the shares are currently owned by company insiders.
Introduction to Fidelity National Information Services
(free report)
Fidelity National Information Services, Inc provides financial services technology solutions to financial institutions, businesses and developers worldwide. It operates through banking solutions, capital markets solutions, and corporate and other segments. The company provides core processing and supporting applications; mobile and online banking; fraud, risk management and compliance; card and retail payments; electronic funds transfer and networking; wealth and retirement; and item processing and output solutions.
further reading
Want to see what other hedge funds hold FIS? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Fidelity National Information Services, Inc. (NYSE: FIS – Free Report).
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