Precedent Wealth Partners LLC Sells 265 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Precedent Wealth Partners LLC reduced its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,699 shares of the information technology services provider’s stock after selling 265 shares during the period. Precedent Wealth Partners LLC’s holdings in Fidelity National Information Services were worth $276,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in FIS. Norges Bank bought a new position in shares of Fidelity National Information Services in the 4th quarter worth about $635,202,000. Raymond James Financial Inc. bought a new stake in Fidelity National Information Services in the 4th quarter valued at about $451,458,000. Arrowstreet Capital Limited Partnership increased its position in Fidelity National Information Services by 100.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider’s stock valued at $261,037,000 after buying an additional 1,616,146 shares in the last quarter. Capital Research Global Investors increased its position in Fidelity National Information Services by 3.8% in the 4th quarter. Capital Research Global Investors now owns 29,433,286 shares of the information technology services provider’s stock valued at $2,377,325,000 after buying an additional 1,082,929 shares in the last quarter. Finally, Northern Trust Corp increased its position in Fidelity National Information Services by 16.5% in the 4th quarter. Northern Trust Corp now owns 6,925,824 shares of the information technology services provider’s stock valued at $559,399,000 after buying an additional 982,955 shares in the last quarter. 96.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on FIS. UBS Group boosted their target price on Fidelity National Information Services from $81.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Robert W. Baird lifted their price target on Fidelity National Information Services from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 4th. Truist Financial initiated coverage on Fidelity National Information Services in a research note on Monday, June 2nd. They set a “hold” rating and a $84.00 price target for the company. Royal Bank of Canada cut their price target on Fidelity National Information Services from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, William Blair restated an “outperform” rating on shares of Fidelity National Information Services in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock opened at $79.29 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Fidelity National Information Services, Inc. has a 1-year low of $66.51 and a 1-year high of $91.98. The firm has a market capitalization of $41.66 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The firm’s 50 day simple moving average is $77.56 and its 200 day simple moving average is $77.23.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. Fidelity National Information Services had a return on equity of 17.30% and a net margin of 14.54%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 earnings per share. As a group, analysts expect that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, June 10th. Fidelity National Information Services’s payout ratio is 105.96%.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 844 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were bought at an average price of $72.04 per share, for a total transaction of $60,801.76. Following the acquisition, the director now directly owns 11,942 shares in the company, valued at $860,301.68. This trade represents a 7.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by company 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.