Summit Financial LLC Buys New Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Summit Financial LLC bought a new stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,815 shares of the information technology services provider’s stock, valued at approximately $287,000.

A number of other institutional investors have also recently added to or reduced their stakes in FIS. Linden Thomas Advisory Services LLC bought a new stake in shares of Fidelity National Information Services in the 2nd quarter worth about $1,253,000. Quest Partners LLC acquired a new stake in Fidelity National Information Services during the fourth quarter valued at approximately $653,000. Jump Financial LLC acquired a new stake in shares of Fidelity National Information Services during the fourth quarter valued at approximately $752,000. SG Americas Securities LLC raised its holdings in shares of Fidelity National Information Services by 572.2% during the second quarter. SG Americas Securities LLC now owns 222,601 shares of the information technology services provider’s stock valued at $16,775,000 after acquiring an additional 189,484 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Fidelity National Information Services by 25.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,013,537 shares of the information technology services provider’s stock valued at $301,194,000 after buying an additional 1,027,466 shares during the period. Institutional investors and hedge funds own 96.23% of the company’s stock.

Wall Street Analyst Weigh In

FIS has been the subject of several recent analyst reports. Evercore ISI upped their price objective on shares of Fidelity National Information Services from $75.00 to $80.00 and gave the stock an “in-line” rating in a report on Tuesday, May 7th. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Fidelity National Information Services in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods boosted their target price on shares of Fidelity National Information Services from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley cut shares of Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 target price for the company. in a research report on Monday, July 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Fidelity National Information Services in a research report on Tuesday, May 7th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.65.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 719 shares of the stock in a transaction on Monday, July 15th. The shares were purchased at an average price of $76.81 per share, with a total value of $55,226.39. Following the acquisition, the director now directly owns 9,771 shares of the company’s stock, valued at approximately $750,510.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock opened at $82.64 on Wednesday. The stock’s 50 day moving average price is $76.98 and its 200 day moving average price is $74.03. The firm has a market capitalization of $45.97 billion, a PE ratio of -8.08, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.35. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $83.14.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.13. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. As a group, sell-side analysts expect that Fidelity National Information Services, Inc. will post 5.08 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, September 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, September 10th. Fidelity National Information Services’s dividend payout ratio is currently -14.08%.

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.