Sumitomo Mitsui Trust Holdings Inc. Sells 117,009 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,417,129 shares of the information technology services provider’s stock after selling 117,009 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Fidelity National Information Services were worth $85,127,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its position in shares of Fidelity National Information Services by 83.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 130 shares during the period. OFI Invest Asset Management bought a new stake in Fidelity National Information Services during the 3rd quarter valued at about $25,000. Baystate Wealth Management LLC increased its stake in Fidelity National Information Services by 332.1% during the 3rd quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 372 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Fidelity National Information Services during the 2nd quarter valued at about $46,000. Finally, BKM Wealth Management LLC bought a new stake in Fidelity National Information Services during the 4th quarter valued at about $35,000. Institutional investors own 96.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FIS. TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Truist Financial lifted their price target on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Morgan Stanley lifted their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, BNP Paribas lowered shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.59.

Fidelity National Information Services Price Performance

Shares of NYSE:FIS opened at $70.35 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services, Inc. has a 1-year low of $46.91 and a 1-year high of $74.75. The company has a market capitalization of $40.55 billion, a P/E ratio of -6.26, a P/E/G ratio of 0.89 and a beta of 0.97. The firm’s 50 day simple moving average is $68.87 and its two-hundred day simple moving average is $61.11.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm earned $1.71 EPS. Fidelity National Information Services’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts expect that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

Fidelity National Information Services announced that its board has initiated a share buyback plan on Monday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 775 shares of the stock in a transaction dated Monday, April 15th. The shares were purchased at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the acquisition, the director now owns 9,052 shares of the company’s stock, valued at $655,093.24. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

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.