Fidelity National Information Services, Inc. (NYSE:FIS) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,103 shares of the information technology services provider’s stock after selling 2,500 shares during the period. State of Michigan Retirement System’s holdings in Fidelity National Information Services were worth $11,801,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Fidelity National Information Services by 94.1% in the third quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 159 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Fidelity National Information Services in the 3rd quarter valued at about $28,000. R Squared Ltd acquired a new stake in shares of Fidelity National Information Services in the 4th quarter valued at about $30,000. Groupama Asset Managment grew its stake in Fidelity National Information Services by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 42,342 shares of the information technology services provider’s stock worth $35,000 after buying an additional 319 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in Fidelity National Information Services during the third quarter worth approximately $37,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FIS has been the topic of a number of research reports. UBS Group lowered their target price on shares of Fidelity National Information Services from $94.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley lowered their price objective on shares of Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada reduced their target price on shares of Fidelity National Information Services from $104.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. William Blair reissued an “outperform” rating on shares of Fidelity National Information Services in a report on Tuesday, February 18th. Finally, Susquehanna downgraded Fidelity National Information Services from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $103.00 to $81.00 in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.65.

Fidelity National Information Services Price Performance

FIS stock opened at $69.67 on Thursday. The company has a market cap of $36.91 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.23 and a beta of 1.11. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $76.80 and a 200-day moving average of $82.16. Fidelity National Information Services, Inc. has a 12-month low of $66.72 and a 12-month high of $91.98.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 17.30% and a net margin of 14.54%. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, equities analysts expect that Fidelity National Information Services, Inc. will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, March 11th. Fidelity National Information Services’s dividend payout ratio is presently 61.30%.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 701 shares of the stock in a transaction dated Wednesday, January 15th. The shares were acquired at an average cost of $79.97 per share, for a total transaction of $56,058.97. Following the completion of the transaction, the director now directly owns 11,098 shares of the company’s stock, valued at $887,507.06. This trade represents a 6.74 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.