The Manufacturers Life Insurance Company Sells 196,043 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

The Manufacturers Life Insurance Company trimmed its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 4.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,237,903 shares of the information technology services provider’s stock after selling 196,043 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Fidelity National Information Services were worth $342,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FIS. Norges Bank acquired a new position in shares of Fidelity National Information Services in the 4th quarter worth approximately $635,202,000. Raymond James Financial Inc. bought a new stake in shares of Fidelity National Information Services during the 4th quarter valued at about $451,458,000. Arrowstreet Capital Limited Partnership increased its holdings in Fidelity National Information Services by 100.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider’s stock worth $261,037,000 after purchasing an additional 1,616,146 shares in the last quarter. KBC Group NV boosted its holdings in shares of Fidelity National Information Services by 1,390.5% during the 4th quarter. KBC Group NV now owns 1,180,258 shares of the information technology services provider’s stock worth $95,330,000 after buying an additional 1,101,072 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Fidelity National Information Services by 3.8% during the 4th quarter. Capital Research Global Investors now owns 29,433,286 shares of the information technology services provider’s stock worth $2,377,325,000 after buying an additional 1,082,929 shares during the period. 96.23% of the stock is owned by institutional investors and hedge funds.

Fidelity National Information Services Stock Down 0.6 %

Fidelity National Information Services stock opened at $79.39 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $42.05 billion, a P/E ratio of 30.42, a P/E/G ratio of 1.23 and a beta of 1.06. The firm has a 50 day moving average price of $72.27 and a 200-day moving average price of $79.44. Fidelity National Information Services, Inc. has a twelve month low of $66.51 and a twelve 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 earnings per share for the quarter, topping 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 period in the prior year, the business earned $0.94 earnings per share. As a group, equities analysts predict that Fidelity National Information Services, Inc. will post 5.74 EPS for the current year.

Fidelity National Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.40 dividend. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Tuesday, March 11th. Fidelity National Information Services’s dividend payout ratio is currently 61.30%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FIS. Wells Fargo & Company decreased their price target on shares of Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Susquehanna downgraded Fidelity National Information Services from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $103.00 to $81.00 in a report on Wednesday, February 12th. Raymond James downgraded shares of Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $115.00 to $101.00 in a research report on Monday, January 6th. Morgan Stanley dropped 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 note on Wednesday, February 12th. Finally, Royal Bank of Canada decreased 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 research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.29.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 844 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average cost of $72.04 per share, with a total value of $60,801.76. Following the completion of the purchase, the director now directly owns 11,942 shares of the company’s stock, valued at $860,301.68. This trade represents a 7.60 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.20% 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.