Power Wealth Management LLC Invests $706,000 in Fidelity National Information Services, Inc. (NYSE:FIS)

Power Wealth Management LLC bought a new position in Fidelity National Information Services, Inc. (NYSE:FIS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,758 shares of the information technology services provider’s stock, valued at approximately $706,000.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Fidelity National Information Services in the third quarter worth $25,000. Baystate Wealth Management LLC grew its stake in shares of Fidelity National Information Services by 332.1% in the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 372 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Fidelity National Information Services in the fourth quarter worth $35,000. Criterion Capital Advisors LLC purchased a new stake in shares of Fidelity National Information Services in the fourth quarter worth $40,000. Finally, ORG Partners LLC purchased a new stake in shares of Fidelity National Information Services in the fourth quarter worth $48,000. Institutional investors own 96.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FIS shares. Truist Financial increased their price objective on Fidelity National Information Services from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Morgan Stanley increased their target price on Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Evercore ISI increased their target price on Fidelity National Information Services from $62.00 to $75.00 and gave the company an “in-line” rating in a report on Tuesday, April 30th. Robert W. Baird downgraded 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 report on Wednesday, March 13th. Finally, Royal Bank of Canada raised their price objective on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Fidelity National Information Services presently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction dated Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, with a total value of $56,086.75. Following the transaction, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Fidelity National Information Services Trading Up 1.9 %

FIS traded up $1.29 during trading hours on Friday, reaching $70.72. 3,571,205 shares of the company’s stock traded hands, compared to its average volume of 3,578,831. The firm has a 50-day moving average price of $70.56 and a 200 day moving average price of $62.46. Fidelity National Information Services, Inc. has a 52-week low of $46.91 and a 52-week high of $74.75. 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 firm has a market capitalization of $39.71 billion, a PE ratio of -6.29, a PEG ratio of 0.88 and a beta of 0.98.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data 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). The business had revenue of $2.51 billion for 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%. Fidelity National Information Services’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 EPS. As a group, sell-side analysts predict that Fidelity National Information Services, Inc. will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, June 10th. Fidelity National Information Services’s payout ratio is -12.81%.

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 shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Fidelity National Information Services Company 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.