California Public Employees Retirement System Trims Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

California Public Employees Retirement System cut its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,028,389 shares of the information technology services provider’s stock after selling 7,983 shares during the period. California Public Employees Retirement System’s holdings in Fidelity National Information Services were worth $121,845,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Fidelity National Information Services by 51.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider’s stock valued at $166,408,000 after acquiring an additional 1,016,719 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Fidelity National Information Services in the 4th quarter valued at approximately $1,244,000. Korea Investment CORP raised its stake in shares of Fidelity National Information Services by 5.5% in the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider’s stock valued at $11,890,000 after acquiring an additional 11,181 shares during the period. Value Holdings Management CO. LLC raised its stake in shares of Fidelity National Information Services by 77.4% in the 3rd quarter. Value Holdings Management CO. LLC now owns 173,000 shares of the information technology services provider’s stock valued at $9,562,000 after acquiring an additional 75,500 shares during the period. Finally, Verity & Verity LLC purchased a new stake in Fidelity National Information Services during the 3rd quarter worth approximately $7,096,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FIS shares. The Goldman Sachs Group started coverage on shares of Fidelity National Information Services in a research note on Thursday, February 29th. They set a “buy” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Mizuho upped their target price on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Robert W. Baird downgraded shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $78.00 in a research note on Wednesday, March 13th. Finally, Morgan Stanley boosted their price target on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Fidelity National Information Services has a consensus rating of “Moderate Buy” and a consensus price target of $71.59.

Fidelity National Information Services Stock Up 0.8 %

FIS opened at $71.90 on Wednesday. The business has a 50 day moving average price of $69.62 and a two-hundred day moving average price of $61.64. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services, Inc. has a 52 week low of $46.91 and a 52 week high of $74.75.

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). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $1.71 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts predict that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, March 7th. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services announced that its board has authorized a share repurchase program on Monday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the acquisition, the director now directly owns 9,052 shares in the company, valued at approximately $655,093.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.

Fidelity National Information Services Profile

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.