Municipal Employees Retirement System of Michigan Sells 10,160 Shares of Fidelity National Information Servcs Inc (FIS)

Municipal Employees Retirement System of Michigan lowered its holdings in shares of Fidelity National Information Servcs Inc (NYSE:FIS) by 54.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,590 shares of the information technology services provider’s stock after selling 10,160 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Fidelity National Information Servcs were worth $808,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in FIS. Calton & Associates Inc. bought a new position in shares of Fidelity National Information Servcs during the 4th quarter valued at $123,000. Cerebellum GP LLC bought a new position in shares of Fidelity National Information Servcs during the 4th quarter valued at $126,000. Virtu Financial LLC purchased a new stake in Fidelity National Information Servcs during the 4th quarter valued at $201,000. Taurus Asset Management LLC purchased a new stake in Fidelity National Information Servcs during the 3rd quarter valued at $203,000. Finally, Bell & Brown Wealth Advisors LLC purchased a new stake in Fidelity National Information Servcs during the 4th quarter valued at $203,000. 87.89% of the stock is currently owned by institutional investors.

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In other news, insider Gary Norcross sold 293,333 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $94.30, for a total value of $27,661,301.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James W. Woodall sold 87,195 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $100.60, for a total transaction of $8,771,817.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,256,602 shares of company stock valued at $123,478,574. Corporate insiders own 2.66% of the company’s stock.

Shares of FIS stock opened at $94.86 on Friday. Fidelity National Information Servcs Inc has a 12-month low of $78.89 and a 12-month high of $103.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $32,296.60, a PE ratio of 24.20, a PEG ratio of 1.57 and a beta of 0.93.

Fidelity National Information Servcs (NYSE:FIS) last posted its earnings results on Tuesday, February 6th. The information technology services provider reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.02. Fidelity National Information Servcs had a net margin of 14.46% and a return on equity of 14.46%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the company posted $1.14 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. research analysts predict that Fidelity National Information Servcs Inc will post 5.18 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.35%. This is a boost from Fidelity National Information Servcs’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, March 15th. Fidelity National Information Servcs’s dividend payout ratio (DPR) is currently 32.65%.

FIS has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of Fidelity National Information Servcs from an “overweight” rating to a “neutral” rating in a research report on Tuesday, December 12th. Cantor Fitzgerald reissued a “buy” rating and set a $108.00 price target on shares of Fidelity National Information Servcs in a research report on Sunday, December 3rd. Robert W. Baird increased their price target on shares of Fidelity National Information Servcs from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Barclays reissued a “buy” rating and set a $115.00 price target on shares of Fidelity National Information Servcs in a research report on Friday, January 5th. Finally, Zacks Investment Research raised shares of Fidelity National Information Servcs from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Friday, February 9th. Four 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 company’s stock. Fidelity National Information Servcs currently has an average rating of “Buy” and a consensus price target of $102.47.

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Fidelity National Information Servcs Profile

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 Servcs (NYSE:FIS)

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