Inlet Private Wealth LLC Cuts Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Inlet Private Wealth LLC reduced its position in Fidelity National Information Services, Inc. (NYSE:FIS) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,225 shares of the information technology services provider’s stock after selling 7,400 shares during the period. Fidelity National Information Services accounts for about 1.8% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 12th biggest position. Inlet Private Wealth LLC’s holdings in Fidelity National Information Services were worth $6,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FIS. Larson Financial Group LLC lifted its position in shares of Fidelity National Information Services by 94.1% during the third quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 159 shares during the last quarter. Kennebec Savings Bank bought a new stake in Fidelity National Information Services during the 3rd quarter valued at about $28,000. R Squared Ltd purchased a new stake in Fidelity National Information Services in the 4th quarter valued at about $30,000. Concord Wealth Partners grew its stake in Fidelity National Information Services by 50.2% in the 3rd quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock worth $37,000 after acquiring an additional 146 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in shares of Fidelity National Information Services during the third quarter worth approximately $37,000. 96.23% of the stock is currently owned by institutional investors.

Fidelity National Information Services Stock Down 0.8 %

Shares of FIS stock opened at $81.44 on Friday. Fidelity National Information Services, Inc. has a twelve month low of $60.39 and a twelve month high of $91.98. The stock has a market cap of $43.84 billion, a P/E ratio of 32.44, a P/E/G ratio of 0.62 and a beta of 1.04. The stock has a 50 day moving average of $81.65 and a 200 day moving average of $82.58. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.63.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.29 by $0.11. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. As a group, sell-side analysts expect that Fidelity National Information Services, Inc. will post 5.18 EPS for the current year.

Fidelity National Information Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.40 dividend. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, March 11th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 57.37%.

Wall Street Analyst Weigh In

FIS has been the topic of a number of recent research reports. TD Cowen increased their price target on Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods raised their target price on shares of Fidelity National Information Services from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Barclays upped their price target on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. BNP Paribas downgraded shares of Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 20th. Finally, Stephens raised their target price on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fidelity National Information Services presently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Insider Activity

In other news, Director Jeffrey A. Goldstein bought 701 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were acquired at an average price of $79.97 per share, for a total transaction of $56,058.97. Following the completion of the transaction, the director now directly owns 11,098 shares in the company, valued at $887,507.06. The trade was a 6.74 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lenore D. Williams sold 11,305 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $87.97, for a total transaction of $994,500.85. Following the completion of the sale, the executive vice president now owns 32,199 shares of the company’s stock, valued at $2,832,546.03. This trade represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.