Poplar Forest Capital LLC Sells 141,693 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Poplar Forest Capital LLC reduced its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 28.5% during the 4th quarter, HoldingsChannel reports. The fund owned 355,676 shares of the information technology services provider’s stock after selling 141,693 shares during the quarter. Fidelity National Information Services comprises 3.1% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 19th largest position. Poplar Forest Capital LLC’s holdings in Fidelity National Information Services were worth $21,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Fidelity National Information Services by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after buying an additional 6,503,451 shares during the last quarter. JANA Partners Management LP acquired a new stake in Fidelity National Information Services in the 3rd quarter valued at $206,507,000. Lazard Asset Management LLC increased its stake in Fidelity National Information Services by 660.0% in the 3rd quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider’s stock valued at $183,944,000 after buying an additional 2,890,185 shares during the last quarter. London Co. of Virginia increased its stake in Fidelity National Information Services by 59.4% in the 3rd quarter. London Co. of Virginia now owns 7,069,492 shares of the information technology services provider’s stock valued at $390,731,000 after buying an additional 2,633,196 shares during the last quarter. Finally, Parnassus Investments LLC increased its stake in Fidelity National Information Services by 163.0% in the 3rd quarter. Parnassus Investments LLC now owns 3,924,014 shares of the information technology services provider’s stock valued at $216,880,000 after buying an additional 2,432,150 shares during the last quarter. 96.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FIS. The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target on the stock. BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Truist Financial boosted their price objective on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada boosted 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. Eight research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.59.

Fidelity National Information Services Stock Performance

NYSE FIS traded down $1.09 during trading on Wednesday, reaching $70.81. The company’s stock had a trading volume of 4,247,344 shares, compared to its average volume of 4,440,771. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of -6.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. Fidelity National Information Services, Inc. has a 12 month low of $46.91 and a 12 month high of $74.75. The firm has a 50 day moving average price of $69.78 and a 200 day moving average price of $61.71.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.71 EPS. As a group, equities analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

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

Insider Transactions at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the business’s stock in a transaction dated 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 acquisition, the director now 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 accessible through this hyperlink. 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.