Synovus Financial Corp Reduces Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Synovus Financial Corp lowered its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 44.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,635 shares of the information technology services provider’s stock after selling 7,041 shares during the quarter. Synovus Financial Corp’s holdings in Fidelity National Information Services were worth $698,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in Fidelity National Information Services during the 3rd quarter worth approximately $37,000. Anchor Investment Management LLC grew its position in shares of Fidelity National Information Services by 1,240.5% during the 3rd quarter. Anchor Investment Management LLC now owns 1,756 shares of the information technology services provider’s stock valued at $147,000 after purchasing an additional 1,625 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Fidelity National Information Services by 2,063.1% in the third quarter. World Investment Advisors LLC now owns 70,971 shares of the information technology services provider’s stock worth $5,944,000 after purchasing an additional 67,690 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Fidelity National Information Services in the third quarter worth $976,000. Finally, Franklin Resources Inc. boosted its stake in Fidelity National Information Services by 9.2% during the third quarter. Franklin Resources Inc. now owns 1,339,235 shares of the information technology services provider’s stock valued at $117,571,000 after buying an additional 112,842 shares during the period. 96.23% of the stock is currently owned by institutional investors.

Fidelity National Information Services Stock Performance

Shares of FIS stock opened at $68.50 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Fidelity National Information Services, Inc. has a fifty-two week low of $66.51 and a fifty-two week high of $91.98. The company has a market capitalization of $36.28 billion, a P/E ratio of 26.25, a PEG ratio of 1.23 and a beta of 1.06. The stock has a 50 day moving average price of $71.52 and a two-hundred day moving average price of $79.85.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.05. Fidelity National Information Services had a net margin of 14.54% and a return on equity of 17.30%. During the same quarter in the previous year, the company posted $0.94 earnings per share. Analysts expect that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current year.

Fidelity National Information Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.40 per share. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.34%. Fidelity National Information Services’s dividend payout ratio is presently 61.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. William Blair restated an “outperform” rating on shares of Fidelity National Information Services in a research note on Tuesday, February 18th. Robert W. Baird upped their price objective on shares of Fidelity National Information Services from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 4th. UBS Group dropped their target price on shares of Fidelity National Information Services from $94.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods decreased their price target on shares of Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Finally, Raymond James cut shares of Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $115.00 to $101.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $88.89.

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.