South Dakota Investment Council Decreases Position in Fidelity National Information Services, Inc. (NYSE:FIS)

South Dakota Investment Council decreased its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 263,499 shares of the information technology services provider’s stock after selling 2,300 shares during the quarter. South Dakota Investment Council’s holdings in Fidelity National Information Services were worth $15,828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of 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 stock worth $3,199,306,000 after purchasing an additional 6,503,451 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Fidelity National Information Services by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,498,166 shares of the information technology services provider’s stock valued at $458,850,000 after acquiring an additional 33,881 shares during the period. Northern Trust Corp boosted its holdings in shares of Fidelity National Information Services by 10.6% during the 3rd quarter. Northern Trust Corp now owns 7,423,200 shares of the information technology services provider’s stock valued at $410,280,000 after acquiring an additional 708,947 shares during the last quarter. London Co. of Virginia grew its stake in shares of Fidelity National Information Services by 59.4% in the third quarter. London Co. of Virginia now owns 7,069,492 shares of the information technology services provider’s stock worth $390,731,000 after acquiring an additional 2,633,196 shares during the period. Finally, Baupost Group LLC MA raised its holdings in shares of Fidelity National Information Services by 2.7% during the third quarter. Baupost Group LLC MA now owns 6,960,219 shares of the information technology services provider’s stock valued at $384,691,000 after purchasing an additional 185,219 shares during the last quarter. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Fidelity National Information Services Price Performance

Shares of FIS traded up $0.60 during midday trading on Tuesday, hitting $71.90. 4,255,912 shares of the company traded hands, compared to its average volume of 4,443,246. Fidelity National Information Services, Inc. has a 52 week low of $46.91 and a 52 week high of $74.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50 day moving average of $69.62 and a 200-day moving average of $61.64. The stock has a market cap of $41.45 billion, a price-to-earnings ratio of -6.40, a PEG ratio of 0.89 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results 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). The firm had revenue of $2.51 billion for 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 business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.71 EPS. On average, analysts forecast that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend 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 authorized a share buyback program on Monday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on FIS shares. Bank of America lifted their target price 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. JPMorgan Chase & Co. increased their target price on Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Royal Bank of Canada increased their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 target price for the company. Finally, Truist Financial increased their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Fidelity National Information Services currently has an average rating of “Moderate Buy” and a consensus price target of $71.59.

Insiders Place Their Bets

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

Fidelity National Information Services 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.