Clearstead Advisors LLC Boosts Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Posted by Defense World Staff on Mar 15th, 2023

Clearstead Advisors LLC boosted its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,334 shares of the information technology services provider’s stock after acquiring an additional 746 shares during the quarter. Clearstead Advisors LLC’s holdings in Fidelity National Information Services were worth $327,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FIS. Brown Brothers Harriman & Co. lifted its holdings in shares of Fidelity National Information Services by 83.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock worth $29,000 after buying an additional 130 shares during the period. Chilton Capital Management LLC purchased a new stake in shares of Fidelity National Information Services in the 2nd quarter worth $43,000. American National Bank purchased a new stake in shares of Fidelity National Information Services in the 3rd quarter worth $36,000. Neo Ivy Capital Management purchased a new stake in shares of Fidelity National Information Services in the 2nd quarter worth $46,000. Finally, Covestor Ltd lifted its holdings in shares of Fidelity National Information Services by 102.2% in the 1st quarter. Covestor Ltd now owns 641 shares of the information technology services provider’s stock worth $64,000 after buying an additional 324 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FIS shares. StockNews.com cut Fidelity National Information Services from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. Mizuho reduced their price target on Fidelity National Information Services from $90.00 to $78.00 and set a “buy” rating for the company in a research report on Tuesday, February 21st. TheStreet lowered Fidelity National Information Services from a “c” rating to a “d” rating in a research report on Monday, February 13th. Truist Financial reduced their price target on Fidelity National Information Services from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, February 14th. Finally, Robert W. Baird reduced their price target on Fidelity National Information Services from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, February 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.83.

Fidelity National Information Services Stock Up 7.0 %

Shares of FIS stock opened at $53.32 on Wednesday. The stock’s 50-day simple moving average is $68.73 and its 200-day simple moving average is $72.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $31.56 billion, a PE ratio of -1.89, a P/E/G ratio of 0.93 and a beta of 0.84. Fidelity National Information Services, Inc. has a fifty-two week low of $49.64 and a fifty-two week high of $106.65.

Fidelity National Information Services (NYSE:FIS – Get Rating) last announced its quarterly earnings data on Monday, February 13th. The information technology services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.01. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.69 billion. Fidelity National Information Services had a positive return on equity of 9.71% and a negative net margin of 115.07%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 earnings per share. Equities analysts expect that Fidelity National Information Services, Inc. will post 5.88 earnings per share for the current year.

Fidelity National Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.90%. Fidelity National Information Services’s dividend payout ratio is currently -7.37%.

Insider Activity

In other news, CFO Erik D. Hoag sold 5,658 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $63.88, for a total value of $361,433.04. Following the sale, the chief financial officer now owns 16,368 shares in the company, valued at $1,045,587.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jeffrey E. Stiefler bought 2,243 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average price of $66.88 per share, for a total transaction of $150,011.84. Following the completion of the purchase, the director now directly owns 3,343 shares of the company’s stock, valued at $223,579.84. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Erik D. Hoag sold 5,658 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $63.88, for a total value of $361,433.04. Following the completion of the sale, the chief financial officer now owns 16,368 shares in the company, valued at approximately $1,045,587.84. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

About Fidelity National Information Services

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Fidelity National Information Services, Inc engages in the provision of technology solutions for financial institutions and businesses. It operates through the following segments: Banking, Merchant, Capital Markets, and Corporate and Other. The Banking segment focuses on serving financial institutions with core processing software, transaction processing software, and complementary applications and services.