Latitude Advisors LLC Sells 221 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Latitude Advisors LLC reduced its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,428 shares of the information technology services provider’s stock after selling 221 shares during the quarter. Latitude Advisors LLC’s holdings in Fidelity National Information Services were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC bought a new stake in shares of Fidelity National Information Services in the 4th quarter valued at about $449,526,000. Vanguard Group Inc. increased its stake in Fidelity National Information Services by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock worth $3,199,306,000 after purchasing an additional 6,503,451 shares in the last quarter. Norges Bank bought a new stake in Fidelity National Information Services during the 4th quarter worth approximately $390,114,000. JANA Partners Management LP bought a new stake in Fidelity National Information Services during the 3rd quarter worth approximately $206,507,000. Finally, Lazard Asset Management LLC increased its stake in Fidelity National Information Services by 660.0% during the 3rd quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider’s stock worth $183,944,000 after purchasing an additional 2,890,185 shares in the last quarter. 96.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FIS. Evercore ISI increased their target price on Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. UBS Group upped their price target on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Bank of America upped their price target on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Robert W. Baird downgraded Fidelity National Information Services from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $76.00 to $78.00 in a research report on Wednesday, March 13th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services currently has an average rating of “Moderate Buy” and an average price target of $71.59.

Fidelity National Information Services Price Performance

Shares of NYSE FIS traded down $0.02 during mid-day trading on Wednesday, reaching $70.70. The company had a trading volume of 3,149,879 shares, compared to its average volume of 3,591,305. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $74.75. The firm has a market cap of $40.76 billion, a price-to-earnings ratio of -6.29, a PEG ratio of 0.89 and a beta of 0.97. The business’s 50-day simple moving average is $68.70 and its 200 day simple moving average is $61.05.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.94 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 company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the business posted $1.71 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict 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 declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s payout ratio 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.

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.