Wealthfront Advisers LLC Decreases Stock Position in Fidelity National Information Services, Inc. $FIS

Wealthfront Advisers LLC lowered its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 38.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,183 shares of the information technology services provider’s stock after selling 12,698 shares during the period. Wealthfront Advisers LLC’s holdings in Fidelity National Information Services were worth $1,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. AGF Management Ltd. acquired a new stake in Fidelity National Information Services in the third quarter worth $3,096,000. Independent Advisor Alliance increased its holdings in shares of Fidelity National Information Services by 177.8% in the 3rd quarter. Independent Advisor Alliance now owns 39,987 shares of the information technology services provider’s stock worth $2,637,000 after acquiring an additional 25,593 shares during the period. LBP AM SA lifted its position in Fidelity National Information Services by 1,777.2% in the 3rd quarter. LBP AM SA now owns 72,984 shares of the information technology services provider’s stock valued at $4,813,000 after purchasing an additional 69,096 shares during the last quarter. Norges Bank acquired a new position in Fidelity National Information Services during the 2nd quarter valued at about $624,858,000. Finally, Brighton Jones LLC bought a new position in Fidelity National Information Services in the 4th quarter worth about $347,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Fidelity National Information Services from $72.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 19th. JPMorgan Chase & Co. reduced their price objective on shares of Fidelity National Information Services from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup upgraded shares of Fidelity National Information Services to a “hold” rating in a report on Thursday, October 23rd. Stephens reduced their target price on shares of Fidelity National Information Services from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Fidelity National Information Services in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.33.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 941 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were purchased at an average price of $64.11 per share, for a total transaction of $60,327.51. Following the purchase, the director owned 14,529 shares in the company, valued at $931,454.19. This represents a 6.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Fidelity National Information Services Stock Performance

Shares of FIS opened at $46.74 on Friday. The company has a 50-day moving average of $61.62 and a two-hundred day moving average of $65.43. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 173.11, a PEG ratio of 0.70 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.53 and a quick ratio of 0.53. Fidelity National Information Services, Inc. has a one year low of $46.16 and a one year high of $82.74.

Fidelity National Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.40. Fidelity National Information Services’s dividend payout ratio is currently 592.59%.

About Fidelity National Information Services

Fidelity National Information Services (NYSE: FIS) is a global provider of financial technology solutions and services for banks, capital markets firms, merchants and corporations. The company develops and delivers software, processing, and outsourcing services that support core banking, payments and merchant acquiring, wealth and retirement platforms, risk and compliance, and trading and capital markets operations. Its offerings include cloud-based and on-premises core banking systems, card processing and gateway services, e-commerce and point-of-sale payment solutions, and a range of back-office and advisory services designed to automate and modernize financial operations.

FIS serves a broad international client base across North America, Europe, Latin America, and the Asia-Pacific region through a combination of direct clients and partner channels.