Mutual of America Capital Management LLC Has $4.76 Million Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Mutual of America Capital Management LLC reduced its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,306 shares of the information technology services provider’s stock after selling 3,622 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fidelity National Information Services were worth $4,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Fidelity National Information Services by 12.7% in 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 purchasing an additional 6,503,451 shares during the period. State Street Corp lifted its stake in Fidelity National Information Services by 1.4% in 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 acquiring an additional 367,417 shares in the last quarter. Geode Capital Management LLC lifted its stake in Fidelity National Information Services by 1.0% in 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 acquiring an additional 107,041 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Fidelity National Information Services by 0.4% in 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 acquiring an additional 33,881 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Fidelity National Information Services by 10.6% in 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 acquiring an additional 708,947 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FIS has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a research note on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price on the stock. Truist Financial boosted their target price on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Evercore ISI boosted their target price on Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. BNP Paribas cut Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Thursday, April 11th. Finally, Morgan Stanley upped their price objective 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. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.81.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS opened at $70.72 on Tuesday. The firm has a market cap of $40.77 billion, a price-to-earnings ratio of -6.29, a P/E/G ratio of 0.90 and a beta of 0.97. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $74.75. 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’s fifty day moving average price is $68.52 and its two-hundred day moving average price is $60.94.

Fidelity National Information Services (NYSE:FIS) last released 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). The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.71 earnings per share. On average, equities analysts forecast that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services Cuts Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -12.81%.

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

Insider Transactions at Fidelity National Information Services

In related news, Director Ellen R. Alemany bought 735 shares of Fidelity National Information Services stock in a transaction dated Wednesday, January 17th. The shares were bought at an average cost of $60.32 per share, with a total value of $44,335.20. Following the acquisition, the director now owns 35,333 shares in the company, valued at approximately $2,131,286.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

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.