The Manufacturers Life Insurance Company Sells 4,948 Shares of Fidelity National Information Services, Inc. (FIS)

The Manufacturers Life Insurance Company cut its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 1.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 390,918 shares of the information technology services provider’s stock after selling 4,948 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Fidelity National Information Services worth $33,384,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America lifted its position in Fidelity National Information Services by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,266 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 9 shares in the last quarter. Private Trust Co. NA lifted its position in Fidelity National Information Services by 0.4% during the 2nd quarter. Private Trust Co. NA now owns 4,986 shares of the information technology services provider’s stock worth $425,000 after acquiring an additional 20 shares in the last quarter. Profund Advisors LLC lifted its position in Fidelity National Information Services by 0.3% during the 2nd quarter. Profund Advisors LLC now owns 8,492 shares of the information technology services provider’s stock worth $725,000 after acquiring an additional 28 shares in the last quarter. Pictet North America Advisors SA lifted its position in Fidelity National Information Services by 1.4% during the 2nd quarter. Pictet North America Advisors SA now owns 3,346 shares of the information technology services provider’s stock worth $286,000 after acquiring an additional 46 shares in the last quarter. Finally, Cleararc Capital Inc. lifted its position in Fidelity National Information Services by 0.6% during the 1st quarter. Cleararc Capital Inc. now owns 8,042 shares of the information technology services provider’s stock worth $640,000 after acquiring an additional 48 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.05. Fidelity National Information Services had a return on equity of 13.49% and a net margin of 7.08%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the company earned $0.90 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis.

Fidelity National Information Services announced that its Board of Directors has approved a share buyback program on Wednesday, August 2nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.29 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.23%. Fidelity National Information Services’s dividend payout ratio is currently 58.00%.

In other Fidelity National Information Services news, COO Anthony M. Jabbour sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $92.36, for a total value of $9,236,000.00. Following the completion of the sale, the chief operating officer now owns 282,689 shares in the company, valued at approximately $26,109,156.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James B. Stallings, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $90.32, for a total value of $196,987.92. Following the completion of the sale, the director now owns 12,317 shares of the company’s stock, valued at approximately $1,112,471.44. The disclosure for this sale can be found here. Insiders sold a total of 520,549 shares of company stock valued at $47,224,679 in the last quarter. Corporate insiders own 2.66% of the company’s stock.

Several equities analysts recently commented on the company. Robert W. Baird reissued an “outperform” rating and set a $108.00 price target (up from $102.00) on shares of Fidelity National Information Services in a research report on Tuesday. Zacks Investment Research raised Fidelity National Information Services from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, October 3rd. BidaskClub raised Fidelity National Information Services from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Barclays PLC reaffirmed an “overweight” rating and issued a $102.00 target price (up from $94.00) on shares of Fidelity National Information Services in a research report on Wednesday, August 9th. Finally, BMO Capital Markets upped their target price on Fidelity National Information Services from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $94.67.

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About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

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