Transcend Capital Advisors LLC Lowers Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Posted by on Mar 31st, 2023

Transcend Capital Advisors LLC lowered its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) by 32.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,177 shares of the information technology services provider’s stock after selling 2,038 shares during the period. Transcend Capital Advisors LLC’s holdings in Fidelity National Information Services were worth $283,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ronald Blue Trust Inc. boosted its position in shares of Fidelity National Information Services by 12.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 3,989 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 441 shares during the period. Clear Harbor Asset Management LLC boosted its position in Fidelity National Information Services by 2.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 10,834 shares of the information technology services provider’s stock valued at $819,000 after buying an additional 210 shares during the period. AMG National Trust Bank purchased a new position in Fidelity National Information Services in the 3rd quarter valued at approximately $318,000. Advisors Asset Management Inc. boosted its position in Fidelity National Information Services by 750.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 21,449 shares of the information technology services provider’s stock valued at $1,621,000 after buying an additional 18,926 shares during the period. Finally, HB Wealth Management LLC boosted its position in Fidelity National Information Services by 5.1% in the 3rd quarter. HB Wealth Management LLC now owns 5,428 shares of the information technology services provider’s stock valued at $410,000 after buying an additional 263 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

FIS has been the subject of several recent research reports. Credit Suisse Group cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $75.00 in a research report on Tuesday, February 14th. Jefferies Financial Group decreased their price objective on shares of Fidelity National Information Services from $65.00 to $60.00 in a research report on Wednesday, March 15th. TheStreet cut shares of Fidelity National Information Services from a “c” rating to a “d” rating in a research report on Monday, February 13th. Morgan Stanley raised shares of Fidelity National Information Services from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $73.00 to $79.00 in a research report on Tuesday, February 14th. Finally, Citigroup cut shares of Fidelity National Information Services from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $70.00 in a research report on Tuesday, February 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

Fidelity National Information Services Trading Up 1.4 %

NYSE FIS opened at $52.17 on Friday. The firm has a market cap of $30.88 billion, a PE ratio of -1.85, a P/E/G ratio of 0.82 and a beta of 0.84. The firm’s fifty day moving average is $64.32 and its two-hundred day moving average is $69.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 0.79. Fidelity National Information Services, Inc. has a one year low of $48.57 and a one year high of $106.65.

Fidelity National Information Services (NYSE:FIS – Get Rating) last issued its earnings results on Monday, February 13th. The information technology services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.01. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.69 billion. Fidelity National Information Services had a negative net margin of 115.07% and a positive return on equity of 9.71%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 earnings per share. 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 announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were issued a $0.52 dividend. This is an increase from Fidelity National Information Services’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.99%. Fidelity National Information Services’s payout ratio is presently -7.37%.

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.

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Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

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