Louisiana State Employees Retirement System Takes $2.15 Million Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Louisiana State Employees Retirement System acquired a new stake in Fidelity National Information Services, Inc. (NYSE:FIS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,800 shares of the information technology services provider’s stock, valued at approximately $2,151,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC acquired a new position in shares of Fidelity National Information Services in the fourth quarter valued at approximately $48,000. Schmidt P J Investment Management Inc. acquired a new position in shares of Fidelity National Information Services in the fourth quarter valued at approximately $208,000. Cornerstone Wealth Group LLC increased its stake in shares of Fidelity National Information Services by 44.3% in the fourth quarter. Cornerstone Wealth Group LLC now owns 67,624 shares of the information technology services provider’s stock valued at $4,062,000 after buying an additional 20,772 shares during the period. Sapient Capital LLC acquired a new stake in Fidelity National Information Services during the 4th quarter valued at approximately $1,076,000. Finally, Seelaus Asset Management LLC acquired a new stake in Fidelity National Information Services during the 4th quarter valued at approximately $555,000. Institutional investors and hedge funds own 96.23% of the company’s stock.

Fidelity National Information Services Price Performance

Shares of FIS opened at $70.35 on Thursday. Fidelity National Information Services, Inc. has a 12-month low of $46.91 and a 12-month high of $74.75. The business’s fifty day moving average is $68.87 and its 200 day moving average is $61.11. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. The stock has a market cap of $40.55 billion, a P/E ratio of -6.26, a P/E/G ratio of 0.89 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business earned $1.71 earnings per share. Fidelity National Information Services’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.05%. The ex-dividend date was Thursday, March 7th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -12.81%.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FIS. Robert W. Baird downgraded shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their target price for the company from $76.00 to $78.00 in a research report on Wednesday, March 13th. Royal Bank of Canada increased their target price on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. BNP Paribas downgraded shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Thursday, April 11th. Finally, Mizuho increased their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.59.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 775 shares of the company’s stock in a transaction on Monday, April 15th. The shares were acquired at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.68% 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.