Shell Asset Management Co. Sells 117,578 Shares of Fidelity National Information Services, Inc. $FIS

Shell Asset Management Co. cut its position in Fidelity National Information Services, Inc. (NYSE:FIS) by 87.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,221 shares of the information technology services provider’s stock after selling 117,578 shares during the quarter. Shell Asset Management Co.’s holdings in Fidelity National Information Services were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cidel Asset Management Inc. boosted its holdings in Fidelity National Information Services by 17.7% during the third quarter. Cidel Asset Management Inc. now owns 3,507 shares of the information technology services provider’s stock valued at $231,000 after acquiring an additional 528 shares during the period. Assetmark Inc. boosted its stake in Fidelity National Information Services by 45.1% during the 3rd quarter. Assetmark Inc. now owns 265,518 shares of the information technology services provider’s stock valued at $17,508,000 after purchasing an additional 82,518 shares during the period. Public Sector Pension Investment Board grew its holdings in Fidelity National Information Services by 10.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 54,719 shares of the information technology services provider’s stock valued at $3,608,000 after buying an additional 5,400 shares during the last quarter. Varma Mutual Pension Insurance Co increased its position in Fidelity National Information Services by 22.0% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 112,582 shares of the information technology services provider’s stock worth $7,424,000 after buying an additional 20,300 shares during the period. Finally, Sound Shore Management Inc CT lifted its holdings in shares of Fidelity National Information Services by 27.7% during the third quarter. Sound Shore Management Inc CT now owns 1,393,298 shares of the information technology services provider’s stock worth $91,874,000 after buying an additional 302,023 shares during the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FIS. JPMorgan Chase & Co. dropped their target price on shares of Fidelity National Information Services from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Compass Point decreased their price target on shares of Fidelity National Information Services from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $70.00 price objective on shares of Fidelity National Information Services in a research report on Thursday, January 15th. Wells Fargo & Company initiated coverage on Fidelity National Information Services in a research report on Wednesday, October 22nd. They set an “overweight” rating and a $81.00 target price on the stock. Finally, KeyCorp restated a “hold” rating on shares of Fidelity National Information Services in a research note on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Fidelity National Information Services presently has a consensus rating of “Hold” and a consensus price target of $78.33.

Insider Activity

In related news, Director Jeffrey A. Goldstein bought 941 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was acquired at an average price of $64.11 per share, for a total transaction of $60,327.51. Following the transaction, the director directly owned 14,529 shares of the company’s stock, valued at $931,454.19. This represents a 6.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock opened at $46.74 on Tuesday. The firm has a market cap of $24.20 billion, a P/E ratio of 173.11, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. The firm’s 50-day simple moving average is $61.24 and its 200-day simple moving average is $65.10. Fidelity National Information Services, Inc. has a twelve month low of $46.16 and a twelve month high of $82.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.53 and a current ratio of 0.53.

Fidelity National Information Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.76 annualized dividend and a dividend yield of 3.8%. This is an increase 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.