Cullen Frost Bankers Inc. Sells 15,111 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Cullen Frost Bankers Inc. cut its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 19.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,846 shares of the information technology services provider’s stock after selling 15,111 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Fidelity National Information Services were worth $3,835,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. EdgeRock Capital LLC bought a new position in shares of Fidelity National Information Services during the 4th quarter valued at about $29,000. OFI Invest Asset Management bought a new position in Fidelity National Information Services during the third quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in shares of Fidelity National Information Services during the 4th quarter worth about $35,000. Criterion Capital Advisors LLC purchased a new stake in Fidelity National Information Services during the 4th quarter worth approximately $40,000. Finally, ORG Partners LLC acquired a new stake in Fidelity National Information Services during the fourth quarter worth about $48,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 775 shares of the company’s stock in a transaction on Monday, April 15th. The shares were purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares of the company’s stock, valued at $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.68% of the company’s stock.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock opened at $74.05 on Thursday. The stock has a fifty day moving average price of $70.79 and a 200 day moving average price of $62.91. 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, Inc. has a 52 week low of $46.91 and a 52 week high of $75.71. The firm has a market capitalization of $41.58 billion, a P/E ratio of -7.24, a PEG ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results 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. The business 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 54.30% and a positive return on equity of 13.06%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. Equities research analysts anticipate that Fidelity National Information Services, Inc. will post 4.71 earnings per share for the current year.

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

Fidelity National Information Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. Fidelity National Information Services’s payout ratio is -14.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FIS shares. Bank of America upped their target price on shares of 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. JPMorgan Chase & Co. raised their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Truist Financial boosted their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Keefe, Bruyette & Woods increased their price objective on Fidelity National Information Services from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Stephens restated an “overweight” rating and set a $90.00 target price on shares of Fidelity National Information Services in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.26.

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.