Envestnet Asset Management Inc. Sells 750,706 Shares of Fidelity National Information Services, Inc. $FIS

Envestnet Asset Management Inc. reduced its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 44.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 939,504 shares of the information technology services provider’s stock after selling 750,706 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Fidelity National Information Services were worth $61,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FIS. NewSquare Capital LLC raised its position in shares of Fidelity National Information Services by 115.1% during the second quarter. NewSquare Capital LLC now owns 357 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 191 shares during the last quarter. LRI Investments LLC increased its stake in Fidelity National Information Services by 613.1% during the third quarter. LRI Investments LLC now owns 435 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 374 shares during the period. Root Financial Partners LLC acquired a new position in Fidelity National Information Services in the 3rd quarter valued at approximately $29,000. Valued Wealth Advisors LLC bought a new stake in shares of Fidelity National Information Services in the 2nd quarter worth approximately $42,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fidelity National Information Services during the 3rd quarter worth approximately $37,000. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein bought 941 shares of Fidelity National Information Services stock in a transaction on Thursday, January 15th. The shares were purchased at an average price of $64.11 per share, for a total transaction of $60,327.51. Following the completion of the acquisition, the director owned 14,529 shares in the company, valued at approximately $931,454.19. This represents a 6.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lowered their price target on shares of Fidelity National Information Services from $93.00 to $86.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Compass Point dropped their price target on shares of Fidelity National Information Services from $90.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. KeyCorp restated a “hold” rating on shares of Fidelity National Information Services in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of Fidelity National Information Services from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Cantor Fitzgerald began coverage on Fidelity National Information Services in a report on Tuesday, January 27th. They set an “overweight” rating and a $72.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $79.53.

Fidelity National Information Services Trading Down 2.6%

Shares of NYSE FIS opened at $50.59 on Tuesday. Fidelity National Information Services, Inc. has a fifty-two week low of $50.22 and a fifty-two week high of $83.71. The firm has a market capitalization of $26.20 billion, a P/E ratio of 187.37, a P/E/G ratio of 0.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.53 and a quick ratio of 0.53. The company’s 50 day simple moving average is $63.06 and its 200 day simple moving average is $66.27.

Fidelity National Information Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a $0.44 dividend. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, March 10th. Fidelity National Information Services’s dividend payout ratio is currently 592.59%.

About Fidelity National Information Services

Fidelity National Information Services (NYSE: FIS) is a global provider of financial technology solutions and services for banks, capital markets firms, merchants and corporations. The company develops and delivers software, processing, and outsourcing services that support core banking, payments and merchant acquiring, wealth and retirement platforms, risk and compliance, and trading and capital markets operations. Its offerings include cloud-based and on-premises core banking systems, card processing and gateway services, e-commerce and point-of-sale payment solutions, and a range of back-office and advisory services designed to automate and modernize financial operations.

FIS serves a broad international client base across North America, Europe, Latin America, and the Asia-Pacific region through a combination of direct clients and partner channels.