National Bank of Canada FI Grows Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

National Bank of Canada FI boosted its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 353.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,025,764 shares of the information technology services provider’s stock after acquiring an additional 799,303 shares during the quarter. National Bank of Canada FI owned about 0.17% of Fidelity National Information Services worth $62,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Fidelity National Information Services in the 3rd quarter valued at $25,000. Baystate Wealth Management LLC lifted its position in Fidelity National Information Services by 332.1% in the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 372 shares during the period. BKM Wealth Management LLC acquired a new position in Fidelity National Information Services during the 4th quarter worth approximately $35,000. Criterion Capital Advisors LLC purchased a new position in shares of Fidelity National Information Services during the 4th quarter worth approximately $40,000. Finally, ORG Partners LLC acquired a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $48,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Fidelity National Information Services Trading Up 1.9 %

Shares of Fidelity National Information Services stock traded up $1.29 during trading hours on Friday, reaching $70.72. 3,571,205 shares of the company’s stock were exchanged, compared to its average volume of 3,578,831. The firm has a market capitalization of $39.71 billion, a price-to-earnings ratio of -6.29, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The company has a fifty day moving average of $70.56 and a 200-day moving average of $62.60. 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 current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last announced 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 positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $1.71 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Fidelity National Information Services, Inc. will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.04%. 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 declared that its Board of Directors has approved a share buyback plan on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on FIS shares. Truist Financial raised their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Thursday, April 11th. UBS Group lifted their price target 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. Bank of America upped their price target on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley lifted their price objective 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. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein acquired 775 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were bought at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the acquisition, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is owned by insiders.

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.