Bridgewater Associates LP Trims Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Bridgewater Associates LP lowered its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 49.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,929 shares of the information technology services provider’s stock after selling 144,161 shares during the quarter. Bridgewater Associates LP’s holdings in Fidelity National Information Services were worth $12,305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Fidelity National Information Services by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,251,434 shares of the information technology services provider’s stock valued at $395,729,000 after purchasing an additional 249,678 shares during the period. Legal & General Group Plc lifted its stake in Fidelity National Information Services by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 4,938,091 shares of the information technology services provider’s stock worth $372,135,000 after acquiring an additional 75,429 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Fidelity National Information Services by 13.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,433,946 shares of the information technology services provider’s stock valued at $371,343,000 after acquiring an additional 538,514 shares during the period. Raymond James & Associates grew its position in Fidelity National Information Services by 449.8% in the 3rd quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock valued at $343,693,000 after acquiring an additional 3,357,329 shares in the last quarter. Finally, FMR LLC increased its stake in Fidelity National Information Services by 6.7% during the third quarter. FMR LLC now owns 2,794,215 shares of the information technology services provider’s stock worth $234,015,000 after purchasing an additional 174,673 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FIS shares. Stephens raised their price objective on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group upped their price objective on Fidelity National Information Services from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Barclays lifted their target price on Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen upped their price target on Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley lifted their price objective on Fidelity National Information Services from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Insider Buying and Selling

In other news, Director Jeffrey A. Goldstein bought 626 shares of the stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average price of $88.25 per share, with a total value of $55,244.50. Following the completion of the acquisition, the director now directly owns 10,397 shares in the company, valued at approximately $917,535.25. The trade was a 6.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lenore D. Williams sold 11,305 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $87.97, for a total transaction of $994,500.85. Following the transaction, the executive vice president now directly owns 32,199 shares of the company’s stock, valued at $2,832,546.03. This represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Fidelity National Information Services Stock Up 0.7 %

Shares of NYSE FIS opened at $85.55 on Friday. The stock has a market cap of $46.06 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 0.71 and a beta of 1.06. Fidelity National Information Services, Inc. has a 52-week low of $55.98 and a 52-week high of $91.98. The business has a 50-day moving average price of $86.99 and a 200 day moving average price of $80.91. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Monday, November 4th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Fidelity National Information Services, Inc. will post 5.18 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 1.68%. Fidelity National Information Services’s dividend payout ratio (DPR) is 57.37%.

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.