Latitude Advisors LLC Cuts Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Latitude Advisors LLC lowered its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,428 shares of the information technology services provider’s stock after selling 221 shares during the period. Latitude Advisors LLC’s holdings in Fidelity National Information Services were worth $266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FIS. Vanguard Group Inc. lifted its position in shares of Fidelity National Information Services by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after buying an additional 6,503,451 shares during the last quarter. State Street Corp lifted its position in shares of Fidelity National Information Services by 1.4% during the 1st quarter. State Street Corp now owns 26,456,658 shares of the information technology services provider’s stock valued at $1,437,381,000 after buying an additional 367,417 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Fidelity National Information Services by 1.0% during the 1st quarter. Geode Capital Management LLC now owns 10,572,297 shares of the information technology services provider’s stock valued at $573,144,000 after buying an additional 107,041 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fidelity National Information Services by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,498,166 shares of the information technology services provider’s stock valued at $458,850,000 after buying an additional 33,881 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Fidelity National Information Services by 10.6% during the 3rd quarter. Northern Trust Corp now owns 7,423,200 shares of the information technology services provider’s stock valued at $410,280,000 after buying an additional 708,947 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Analyst Ratings Changes

FIS has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a research report on Thursday, February 29th. They set a “buy” rating and a $84.00 price target on the stock. Morgan Stanley boosted their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Bank of America boosted their price objective on Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Robert W. Baird lowered 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 note on Wednesday, March 13th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services Price Performance

NYSE FIS traded down $0.02 during trading on Wednesday, reaching $70.70. The company’s stock had a trading volume of 3,149,879 shares, compared to its average volume of 3,591,305. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $40.76 billion, a PE ratio of -6.29, a P/E/G ratio of 0.89 and a beta of 0.97. The firm has a fifty day moving average of $68.70 and a 200 day moving average of $61.05. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $74.75.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.52 billion. Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. Fidelity National Information Services’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 2.04%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

Fidelity National Information Services announced that its Board of Directors has authorized a stock repurchase plan on Monday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.