Geneos Wealth Management Inc. Cuts Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Posted by Defense World Staff on Apr 14th, 2023

Geneos Wealth Management Inc. decreased its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,290 shares of the information technology services provider’s stock after selling 593 shares during the period. Geneos Wealth Management Inc.’s holdings in Fidelity National Information Services were worth $698,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its position 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 last quarter. Arlington Partners LLC grew its position in shares of Fidelity National Information Services by 199.2% in the 4th quarter. Arlington Partners LLC now owns 398 shares of the information technology services provider’s stock worth $27,000 after buying an additional 265 shares during the last quarter. Harbor Investment Advisory LLC grew its position in shares of Fidelity National Information Services by 55.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 461 shares of the information technology services provider’s stock worth $31,000 after buying an additional 164 shares during the last quarter. American National Bank purchased a new position in shares of Fidelity National Information Services in the 3rd quarter worth approximately $36,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new position in shares of Fidelity National Information Services in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Fidelity National Information Services Stock Performance

FIS opened at $56.70 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.52. The company has a market cap of $33.56 billion, a price-to-earnings ratio of -2.01, a PEG ratio of 0.89 and a beta of 0.82. Fidelity National Information Services, Inc. has a 52-week low of $48.57 and a 52-week high of $106.65. The firm’s fifty day simple moving average is $60.27 and its two-hundred day simple moving average is $67.57.

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 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.01. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 earnings per share. Equities analysts anticipate that Fidelity National Information Services, Inc. will post 5.87 earnings per share for the current fiscal year.

Fidelity National Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, March 9th. Fidelity National Information Services’s dividend payout ratio is -7.37%.

Insider Activity

In other news, Director Jeffrey E. Stiefler acquired 2,243 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was purchased at an average cost of $66.88 per share, for a total transaction of $150,011.84. Following the completion of the transaction, the director now owns 3,343 shares in the company, valued at $223,579.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey E. Stiefler acquired 2,243 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was purchased at an average cost of $66.88 per share, for a total transaction of $150,011.84. Following the completion of the transaction, the director now owns 3,343 shares in the company, valued at $223,579.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Erik D. Hoag sold 5,658 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FIS. UBS Group cut their price objective on shares of Fidelity National Information Services from $86.00 to $78.00 in a research report on Tuesday, February 14th. Credit Suisse Group downgraded shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $75.00 in a research report on Tuesday, February 14th. Morgan Stanley raised shares of Fidelity National Information Services from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $73.00 to $79.00 in a research report on Tuesday, February 14th. Royal Bank of Canada dropped their target price on shares of Fidelity National Information Services from $93.00 to $81.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 14th. Finally, Raymond James dropped their target price on shares of Fidelity National Information Services from $86.00 to $83.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, February 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.48.

Fidelity National Information Services Company Profile

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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.