Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 47.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 230,273 shares of the information technology services provider’s stock after selling 208,696 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fidelity National Information Services were worth $13,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Fidelity National Information Services in the 3rd quarter worth about $25,000. Baystate Wealth Management LLC grew its position in shares of Fidelity National Information Services by 332.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after buying an additional 372 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Fidelity National Information Services by 83.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after buying an additional 130 shares during the period. BKM Wealth Management LLC purchased a new stake in Fidelity National Information Services during the 4th quarter valued at about $35,000. Finally, Clear Street Markets LLC grew its position in Fidelity National Information Services by 59,900.0% during the 4th quarter. Clear Street Markets LLC now owns 600 shares of the information technology services provider’s stock valued at $41,000 after purchasing an additional 599 shares during the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein bought 775 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now owns 9,052 shares in the company, valued at $655,093.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Morgan Stanley increased their price objective on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. UBS Group increased their price objective 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. Evercore ISI increased their price objective on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services Price Performance

Shares of NYSE:FIS opened at $70.00 on Friday. The firm’s 50 day moving average price is $69.04 and its 200-day moving average price is $61.18. Fidelity National Information Services, Inc. has a twelve month low of $46.91 and a twelve month high of $74.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $40.35 billion, a PE ratio of -6.23, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last issued 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 business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company earned $1.71 EPS. Fidelity National Information Services’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services announced that its board has approved 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Fidelity National Information Services Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s payout ratio is -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.