PNC Financial Services Group Inc. Lowers Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

PNC Financial Services Group Inc. lessened its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 271,279 shares of the information technology services provider’s stock after selling 9,997 shares during the period. PNC Financial Services Group Inc.’s holdings in Fidelity National Information Services were worth $16,296,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FIS. EdgeRock Capital LLC purchased a new stake in Fidelity National Information Services during the fourth quarter valued at approximately $29,000. Delta Asset Management LLC TN raised its holdings in shares of Fidelity National Information Services by 600.0% in the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after buying an additional 450 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Fidelity National Information Services in the fourth quarter worth $35,000. Criterion Capital Advisors LLC purchased a new position in shares of Fidelity National Information Services in the fourth quarter worth $40,000. Finally, ORG Partners LLC purchased a new position in shares of Fidelity National Information Services in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS opened at $76.12 on Tuesday. The company’s 50-day simple moving average is $74.02 and its 200-day simple moving average is $67.75. Fidelity National Information Services, Inc. has a 52-week low of $46.91 and a 52-week high of $78.73. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.59.

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

Fidelity National Information Services Announces Dividend

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

Fidelity National Information Services declared that its board has authorized a stock 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FIS has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. William Blair reiterated an “outperform” rating on shares of Fidelity National Information Services in a research note on Tuesday, May 7th. Susquehanna increased their price objective on shares of Fidelity National Information Services from $81.00 to $86.00 and gave the stock a “positive” rating in a research note on Wednesday, May 8th. TD Cowen increased their price objective on shares of Fidelity National Information Services from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and an average target price of $79.32.

Insider Buying and Selling

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Fidelity National Information Services Company 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.