Legacy Capital Wealth Partners LLC Reduces Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Legacy Capital Wealth Partners LLC decreased its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 30.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,117 shares of the information technology services provider’s stock after selling 1,828 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Fidelity National Information Services were worth $247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Fidelity National Information Services by 51.0% during the 3rd 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 bought a new position in Fidelity National Information Services in the 4th quarter worth about $1,244,000. Korea Investment CORP lifted its holdings in shares of Fidelity National Information Services by 5.5% in the third quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock worth $11,890,000 after buying an additional 11,181 shares in the last quarter. Value Holdings Management CO. LLC boosted its position in shares of Fidelity National Information Services by 77.4% in 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, Sapient Capital LLC purchased a new position in Fidelity National Information Services during the fourth quarter valued at approximately $1,076,000. Institutional investors own 96.23% of the company’s stock.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

FIS has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Evercore ISI lifted their price objective on Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Bank of America boosted their target price on 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. UBS Group raised their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, Truist Financial boosted their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.69.

Fidelity National Information Services Stock Performance

NYSE:FIS opened at $69.44 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services, Inc. has a fifty-two week low of $46.91 and a fifty-two week high of $74.75. The business has a 50 day moving average price of $70.15 and a 200-day moving average price of $62.14.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly 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 firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. Fidelity National Information Services’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.71 EPS. Equities analysts forecast that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current year.

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

Fidelity National Information Services Announces Dividend

The firm 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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

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.