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New York State Teachers Retirement System reduced its stake in Fidelity National Information Services, Inc. (NYSE: FIS – Free Report ) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owns 544,677 shares of the information technology services provider’s stock after selling 18,075 shares during the quarter. The New York State Teachers’ Retirement System’s stake in Fidelity National Information Services was worth $32,719,000 as of the most recent SEC filing.
Other large investors also modified their holdings in the company. Acadian Asset Management LLC boosted its holdings in Fidelity National Information Services by 491.5% in the first quarter. Acadian Asset Management LLC now owns 3,904 shares of the information technology services provider’s stock valued at $391,000 after purchasing an additional 3,244 shares during the last quarter. Synovus Financial Corp raised its holdings in Fidelity National Information Services by 71.6% in the first quarter. Synovus Financial Corp now owns 9,791 shares of the information technology services provider’s stock valued at $982,000 after purchasing an additional 4,085 shares during the last quarter. Prudential PLC acquired a new stake in shares of Fidelity National Information Services in the first quarter worth approximately $1,173,000. Baird Financial Group Inc. raised its holdings in Fidelity National Information Services by 8.2% in the first quarter. Baird Financial Group Inc. now owns 194,714 shares of the information technology services provider’s stock valued at $19,553,000 after purchasing an additional 14,819 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Fidelity National Information Services by 83.3% in the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds hold 96.23% of the company’s shares.
Fidelity National Information Services shares rose 0.8%
FIS stock opened Monday at $72.44. Fidelity National Information Services has a one-year low of $46.91 and a one-year high of $74.75. 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 moving average is $67.37 and its 200-day moving average is $60.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75, and a current ratio of 0.75.
Fidelity National Information Services (NYSE: FIS – Get Free Report ) last issued 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). The company’s revenue for the quarter was $2.51 billion, 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 earned $1.71 per share. Stock analysts expect Fidelity National Information Services, Inc. to post earnings of $4.66 per share 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 were issued a dividend of $0.36 per share on Friday, March 8th. The ex-dividend date is Thursday, March 7th. This translates into an annualized dividend of $1.44 and a yield of 1.99%. Fidelity National Information Services’ dividend yield is -12.81%.
Fidelity National Information Services announced that its board of directors on Monday, February 26, approved a stock repurchase program that allows the company to repurchase $500 million of outstanding shares. The repurchase authorization allows the information technology service 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
A number of equities research analysts have weighed in on the company. Mizuho Bank raised their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley raised their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. raised their target price on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Evercore ISI raised their target price on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock a “perform” rating in a report on Tuesday, March 26th. Finally, TheStreet raised Fidelity National Information Services from a “d” rating to a “c” rating in a report on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $70.73, according to MarketBeat.com.
Check out our latest stock analysis for FIS
Insiders place bets
In related news, Director Ellen R. Alemany purchased 735 shares of Fidelity National Information Services stock in a transaction on Wednesday, January 17th. The stock was purchased at an average price of $60.32 per share, for a total value of $44,335.20. Following the completion of the transaction, the director now directly holds 35,333 shares of the company’s stock, valued at $2,131,286.56. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s shares.
About 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.
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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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