Russell Investments Group Ltd. Has $59.08 Million Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Russell Investments Group Ltd. reduced its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 977,893 shares of the information technology services provider’s stock after selling 73,860 shares during the quarter. Russell Investments Group Ltd. owned 0.17% of Fidelity National Information Services worth $59,077,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in shares of Fidelity National Information Services during the third quarter valued at about $25,000. Baystate Wealth Management LLC raised its holdings in Fidelity National Information Services by 332.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 372 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Fidelity National Information Services in the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC bought a new stake in shares of Fidelity National Information Services in 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 currently owned by institutional investors and hedge funds.

Fidelity National Information Services Stock Performance

Shares of NYSE:FIS opened at $69.60 on Monday. The business has a fifty day moving average of $70.04 and a 200-day moving average of $62.01. 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, Inc. has a twelve month low of $46.91 and a twelve month high of $74.75. The firm has a market cap of $40.12 billion, a PE ratio of -6.19, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share 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 company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $1.71 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio is -12.81%.

Fidelity National Information Services announced that its Board of Directors has approved a stock repurchase program on Monday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FIS has been the subject of several research reports. Royal Bank of Canada raised their target price on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Truist Financial upped 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. Bank of America raised 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 note on Tuesday, April 16th. Finally, Mizuho upped their price objective 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. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.69.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein bought 775 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.56% 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.