Russell Investments Group Ltd. Lowers Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Russell Investments Group Ltd. trimmed its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 34.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 645,233 shares of the information technology services provider’s stock after selling 332,660 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Fidelity National Information Services worth $47,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in Fidelity National Information Services by 8.5% during the 1st quarter. QRG Capital Management Inc. now owns 33,938 shares of the information technology services provider’s stock valued at $2,518,000 after acquiring an additional 2,664 shares during the period. Williams Jones Wealth Management LLC. boosted its holdings in Fidelity National Information Services by 3.3% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 6,913 shares of the information technology services provider’s stock valued at $513,000 after acquiring an additional 220 shares during the period. Donoghue Forlines LLC purchased a new position in Fidelity National Information Services during the 1st quarter valued at about $677,000. Meeder Advisory Services Inc. boosted its holdings in Fidelity National Information Services by 10.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 9,266 shares of the information technology services provider’s stock valued at $687,000 after acquiring an additional 914 shares during the period. Finally, NorthRock Partners LLC purchased a new position in Fidelity National Information Services during the 1st quarter valued at about $218,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein bought 719 shares of the stock in a transaction on Monday, July 15th. The shares were bought at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the purchase, the director now owns 9,771 shares of the company’s stock, valued at approximately $750,510.51. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FIS shares. Stephens reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Fidelity National Information Services in a research report on Tuesday, May 7th. Mizuho increased their price target on Fidelity National Information Services from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. BNP Paribas lowered Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Thursday, April 11th. Royal Bank of Canada increased their price target on Fidelity National Information Services from $82.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Fidelity National Information Services in a research report on Tuesday, May 7th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.32.

Fidelity National Information Services Stock Performance

FIS traded up $0.41 during trading on Wednesday, hitting $77.32. 737,882 shares of the stock were exchanged, compared to its average volume of 4,255,597. The firm has a market capitalization of $43.01 billion, a P/E ratio of -7.52, a PEG ratio of 0.78 and a beta of 1.06. Fidelity National Information Services, Inc. has a 1-year low of $46.91 and a 1-year high of $78.73. The stock has a fifty day moving average price of $76.01 and a two-hundred day moving average price of $70.10. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.59.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.96 by $0.14. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates 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 firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. As a group, sell-side analysts predict that Fidelity National Information Services, Inc. will post 4.97 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.86%. The ex-dividend date was Monday, June 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is -14.08%.

Fidelity National Information Services 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.