American International Group Inc. Sells 1,405 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

American International Group Inc. cut its position in Fidelity National Information Services, Inc. (NYSE:FIS) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,173 shares of the information technology services provider’s stock after selling 1,405 shares during the quarter. American International Group Inc.’s holdings in Fidelity National Information Services were worth $10,282,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Fidelity National Information Services by 5.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 161,894 shares of the information technology services provider’s stock valued at $8,971,000 after purchasing an additional 8,578 shares during the period. Kestra Advisory Services LLC lifted its position in shares of Fidelity National Information Services by 39.4% in the third quarter. Kestra Advisory Services LLC now owns 12,791 shares of the information technology services provider’s stock valued at $707,000 after buying an additional 3,614 shares during the last quarter. Korea Investment CORP boosted its stake in shares of Fidelity National Information Services by 5.5% during the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock worth $11,890,000 after acquiring an additional 11,181 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Fidelity National Information Services during the 3rd quarter worth approximately $1,592,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Fidelity National Information Services in the 3rd quarter valued at $1,780,000. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Information Services Price Performance

Shares of NYSE:FIS opened at $76.12 on Tuesday. The firm has a 50 day simple moving average of $74.02 and a 200 day simple moving average of $67.75. The company has a market cap of $42.34 billion, a price-to-earnings ratio of -7.44, a PEG ratio of 0.78 and a beta of 1.05. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $78.73. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.52 and a quick ratio of 1.52.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. Fidelity National Information Services had a positive return on equity of 13.91% and a negative net margin of 54.14%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the business posted $1.29 EPS. Fidelity National Information Services’s revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts predict that Fidelity National Information Services, Inc. will post 4.96 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its board has authorized a share repurchase plan on Monday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Fidelity National Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s payout ratio is -14.08%.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. increased their price objective on Fidelity National Information Services from $75.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Mizuho upped their price target on shares of Fidelity National Information Services from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Barclays boosted their price objective on shares of Fidelity National Information Services from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Finally, TD Cowen raised their target price on shares of Fidelity National Information Services from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.32.

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.