OLD National Bancorp IN Makes New $686,000 Investment in Fidelity National Information Services, Inc. (NYSE:FIS)

OLD National Bancorp IN acquired a new position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,414 shares of the information technology services provider’s stock, valued at approximately $686,000.

Several other institutional investors have also recently bought and sold shares of FIS. Vanguard Group Inc. raised its holdings in Fidelity National Information Services by 12.7% during the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock worth $3,199,306,000 after buying an additional 6,503,451 shares during the last quarter. JANA Partners Management LP acquired a new position in Fidelity National Information Services during the third quarter worth $206,507,000. Lazard Asset Management LLC raised its holdings in shares of Fidelity National Information Services by 660.0% in the third quarter. Lazard Asset Management LLC now owns 3,328,124 shares of the information technology services provider’s stock valued at $183,944,000 after purchasing an additional 2,890,185 shares during the last quarter. London Co. of Virginia raised its holdings in shares of Fidelity National Information Services by 59.4% in the third quarter. London Co. of Virginia now owns 7,069,492 shares of the information technology services provider’s stock valued at $390,731,000 after purchasing an additional 2,633,196 shares during the last quarter. Finally, Parnassus Investments LLC raised its holdings in shares of Fidelity National Information Services by 163.0% in the third quarter. Parnassus Investments LLC now owns 3,924,014 shares of the information technology services provider’s stock valued at $216,880,000 after purchasing an additional 2,432,150 shares during the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

Fidelity National Information Services Price Performance

FIS stock opened at $71.90 on Wednesday. The firm has a 50 day moving average of $69.62 and a 200-day moving average of $61.64. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. Fidelity National Information Services, Inc. has a 12 month low of $46.91 and a 12 month high of $74.75. The firm has a market capitalization of $41.45 billion, a P/E ratio of -6.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

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

Fidelity National Information Services declared that its Board of Directors has initiated a stock 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Fidelity National Information Services Cuts Dividend

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

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 775 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FIS. The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a report on Thursday, February 29th. They issued a “buy” rating and a $84.00 target price for the company. UBS Group increased their price target on shares of Fidelity National Information Services from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Bank of America increased their price target on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI increased their price target on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Finally, TheStreet upgraded shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.59.

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.