Rehmann Capital Advisory Group Cuts Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Rehmann Capital Advisory Group reduced its position in Fidelity National Information Services, Inc. (NYSE:FIS) by 9.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,745 shares of the information technology services provider’s stock after selling 1,001 shares during the period. Rehmann Capital Advisory Group’s holdings in Fidelity National Information Services were worth $723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in Fidelity National Information Services in the fourth quarter valued at about $29,000. Rise Advisors LLC acquired a new stake in Fidelity National Information Services in the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN grew its position in Fidelity National Information Services by 600.0% during the 4th quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 450 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Fidelity National Information Services during the 4th quarter valued at approximately $35,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fidelity National Information Services during the first quarter worth $37,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen raised their target price on 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. Stephens restated an “overweight” rating and set a $90.00 price objective on shares of Fidelity National Information Services in a research note on Tuesday, May 7th. William Blair reiterated an “outperform” rating on shares of Fidelity National Information Services in a research note on Tuesday, May 7th. JPMorgan Chase & Co. increased their price target 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. Finally, Robert W. Baird boosted their target price on shares of Fidelity National Information Services from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.32.

Fidelity National Information Services Stock Performance

Shares of Fidelity National Information Services stock traded up $0.09 on Wednesday, reaching $73.81. 1,256,659 shares of the stock were exchanged, compared to its average volume of 4,316,958. 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, Inc. has a 1-year low of $46.91 and a 1-year high of $78.73. The business has a fifty day moving average price of $75.49 and a two-hundred day moving average price of $69.56. The firm has a market capitalization of $41.06 billion, a PE ratio of -7.14, a PEG ratio of 0.76 and a beta of 1.06.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.14. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.91% and a negative net margin of 54.14%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS. As a group, research analysts anticipate that Fidelity National Information Services, Inc. will post 4.97 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a dividend of $0.36 per share. The ex-dividend date was Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.95%. Fidelity National Information Services’s dividend payout ratio is currently -14.08%.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 775 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was bought at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the acquisition, 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 SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.