Insider Buying: Fidelity National Information Services, Inc. (NYSE:FIS) Director Purchases $56,086.75 in Stock

Fidelity National Information Services, Inc. (NYSE:FIS) Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the purchase, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Fidelity National Information Services Trading Up 1.1 %

Fidelity National Information Services stock opened at $70.77 on Friday. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $74.75. The business’s fifty day moving average is $69.22 and its 200 day moving average is $61.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $40.80 billion, a PE ratio of -6.30, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company posted $1.71 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts predict that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services declared that its board has authorized a share repurchase plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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 issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio is -12.81%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FIS. OFI Invest Asset Management bought a new position in shares of Fidelity National Information Services in the third quarter worth about $25,000. Baystate Wealth Management LLC raised its stake in shares of 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 worth $27,000 after buying an additional 372 shares during the period. EdgeRock Capital LLC bought a new position in shares of Fidelity National Information Services in the fourth quarter worth about $29,000. Rise Advisors LLC bought a new position in shares of Fidelity National Information Services in the first quarter worth about $29,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Fidelity National Information Services by 83.3% in the first 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. Institutional investors own 96.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FIS shares. 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 research note on Tuesday. JPMorgan Chase & Co. increased their target price on 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. Royal Bank of Canada increased their target price on 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. Mizuho increased their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Evercore ISI increased their target price on Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.59.

About Fidelity National Information Services

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.