Great Lakes Retirement Inc. Raises Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Great Lakes Retirement Inc. grew its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,280 shares of the information technology services provider’s stock after acquiring an additional 643 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Fidelity National Information Services were worth $1,158,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. boosted its position in Fidelity National Information Services by 83.3% during the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 130 shares during the period. OFI Invest Asset Management purchased a new position in Fidelity National Information Services in the 3rd quarter worth approximately $25,000. Baystate Wealth Management LLC boosted its stake in shares of Fidelity National Information Services by 332.1% during the third 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 during the period. Neo Ivy Capital Management bought a new position in shares of Fidelity National Information Services in the second quarter worth approximately $46,000. Finally, McCarthy Grittinger Financial Group LLC increased its stake in shares of Fidelity National Information Services by 101.1% in the third quarter. McCarthy Grittinger Financial Group LLC now owns 573 shares of the information technology services provider’s stock worth $32,000 after buying an additional 288 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Insider Transactions at Fidelity National Information Services

In other news, Director Ellen R. Alemany purchased 735 shares of the stock in a transaction dated Wednesday, January 17th. The shares were purchased at an average cost of $60.32 per share, with a total value of $44,335.20. Following the acquisition, the director now directly owns 35,333 shares of the company’s stock, valued at $2,131,286.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

Fidelity National Information Services Stock Up 1.6 %

Fidelity National Information Services stock traded up $1.16 during mid-day trading on Thursday, reaching $74.62. The stock had a trading volume of 2,943,994 shares, compared to its average volume of 4,717,327. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of -6.59, a PEG ratio of 0.91 and a beta of 0.97. 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 one year low of $46.91 and a one year high of $74.71. The company has a 50-day moving average price of $65.42 and a two-hundred day moving average price of $59.33.

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

Fidelity National Information Services declared that its board has approved a stock repurchase program on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Fidelity National Information Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s payout ratio is presently -12.81%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FIS. Robert W. Baird cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $78.00 in a research report on Wednesday, March 13th. Mizuho increased their price objective on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. UBS Group boosted their target price on Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Morgan Stanley raised their price target on 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, The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Fidelity National Information Services currently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Fidelity National Information Services Company 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.