Mackenzie Financial Corp Acquires 10,521 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Mackenzie Financial Corp boosted its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,258 shares of the information technology services provider’s stock after purchasing an additional 10,521 shares during the quarter. Mackenzie Financial Corp’s holdings in Fidelity National Information Services were worth $5,542,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FIS. Brown Brothers Harriman & Co. increased its stake in 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 acquiring an additional 130 shares during the last quarter. OFI Invest Asset Management bought a new stake in Fidelity National Information Services in the 3rd quarter worth approximately $25,000. Baystate Wealth Management LLC increased its stake in 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 acquiring an additional 372 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Fidelity National Information Services in the 2nd quarter worth approximately $46,000. Finally, BKM Wealth Management LLC bought a new stake in Fidelity National Information Services in the 4th quarter worth approximately $35,000. Institutional investors own 96.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada lifted their price objective 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. Bank of America lifted their price objective on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial lifted their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their target price on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Evercore ISI lifted their target price on Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Fidelity National Information Services has an average rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services Price Performance

Shares of FIS stock opened at $70.73 on Friday. Fidelity National Information Services, Inc. has a twelve month low of $46.91 and a twelve month high of $74.75. The stock has a market capitalization of $40.77 billion, a price-to-earnings ratio of -6.29, a P/E/G ratio of 0.88 and a beta of 0.97. The stock has a fifty day simple moving average of $69.22 and a two-hundred day simple moving average of $61.34. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results 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 firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. Fidelity National Information Services’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio is -12.81%.

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

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

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.