Twin Capital Management Inc. Boosts Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Twin Capital Management Inc. boosted its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 31.5% in the 4th quarter, HoldingsChannel reports. The fund owned 64,658 shares of the information technology services provider’s stock after buying an additional 15,475 shares during the quarter. Twin Capital Management Inc.’s holdings in Fidelity National Information Services were worth $3,884,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new position in shares of Fidelity National Information Services in the 3rd quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its holdings 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 acquiring an additional 372 shares during the period. Brown Brothers Harriman & Co. grew its holdings in Fidelity National Information Services by 83.3% during the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 130 shares during the period. BKM Wealth Management LLC bought a new stake in Fidelity National Information Services during the fourth quarter valued at about $35,000. Finally, Clear Street Markets LLC boosted its stake in shares of Fidelity National Information Services by 59,900.0% in the fourth quarter. Clear Street Markets LLC now owns 600 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 599 shares during the period. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average price of $72.37 per share, with a total value of $56,086.75. Following the purchase, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Fidelity National Information Services Stock Down 0.3 %

FIS traded down $0.20 on Thursday, hitting $70.15. 879,241 shares of the company were exchanged, compared to its average volume of 4,406,859. 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 business’s fifty day moving average is $68.87 and its 200 day moving average is $61.11. Fidelity National Information Services, Inc. has a fifty-two week low of $46.91 and a fifty-two week high of $74.75.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the company earned $1.71 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services declared that its board has approved a stock repurchase program on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Fidelity National Information Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio is presently -12.81%.

Analysts Set New Price Targets

A number of research firms recently commented on FIS. Mizuho boosted their target price on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Truist Financial upped their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. BNP Paribas cut 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. Morgan Stanley increased their target price on 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. Finally, UBS Group increased their price objective on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Eight investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $71.59.

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.