Log Out

Tower Bridge Advisors Sells 2,566 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Financial News Live · Oct 1, 2022 12:32

Tower Bridge Advisors lowered its stake in Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) by 16.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,760 shares of the information technology services provider's stock after selling 2,566 shares during the period. Tower Bridge Advisors' holdings in Fidelity National Information Services were worth $1,170,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. increased its position in shares of Fidelity National Information Services by 83.3% in the first quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 130 shares during the period. SRS Capital Advisors Inc. boosted its stake in Fidelity National Information Services by 298.7% in the first quarter. SRS Capital Advisors Inc. now owns 299 shares of the information technology services provider's stock valued at $30,000 after buying an additional 224 shares in the last quarter. FinTrust Capital Advisors LLC boosted its stake in Fidelity National Information Services by 248.3% in the first quarter. FinTrust Capital Advisors LLC now owns 310 shares of the information technology services provider's stock valued at $31,000 after buying an additional 221 shares in the last quarter. Tcwp LLC acquired a new stake in Fidelity National Information Services in the first quarter valued at about $33,000. Finally, MV Capital Management Inc. boosted its stake in Fidelity National Information Services by 782.1% in the second quarter. MV Capital Management Inc. now owns 344 shares of the information technology services provider's stock valued at $32,000 after buying an additional 305 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Get Fidelity National Information Services alerts:

Fidelity National Information Services Trading Down 1.3 %

Shares of FIS stock opened at $75.57 on Friday. The company has a market cap of $45.95 billion, a P/E ratio of 54.76, a PEG ratio of 0.74 and a beta of 0.78. The stock has a 50 day simple moving average of $92.45 and a two-hundred day simple moving average of $96.29. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.69. Fidelity National Information Services, Inc. has a fifty-two week low of $75.54 and a fifty-two week high of $126.20.

Fidelity National Information Services (NYSE:FIS – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.70 by $0.03. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.67 billion. Fidelity National Information Services had a return on equity of 8.95% and a net margin of 5.88%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 earnings per share. Research analysts forecast that Fidelity National Information Services, Inc. will post 7.06 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.49%. Fidelity National Information Services's dividend payout ratio is 136.23%.

Insider Buying and Selling

In related news, CEO Gary Norcross sold 80,000 shares of the company's stock in a transaction on Friday, September 9th. The stock was sold at an average price of $90.89, for a total transaction of $7,271,200.00. Following the completion of the sale, the chief executive officer now owns 846,643 shares in the company, valued at $76,951,382.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fidelity National Information Services news, CEO Gary Norcross sold 80,000 shares of the business's stock in a transaction on Friday, September 9th. The stock was sold at an average price of $90.89, for a total value of $7,271,200.00. Following the transaction, the chief executive officer now owns 846,643 shares of the company's stock, valued at $76,951,382.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lenore D. Williams sold 2,500 shares of the business's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the executive vice president now directly owns 21,334 shares in the company, valued at approximately $2,133,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,240 shares of company stock worth $18,934,354. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial reduced their price objective on Fidelity National Information Services from $105.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, June 30th. Morgan Stanley reduced their price objective on Fidelity National Information Services from $102.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 30th. Royal Bank of Canada reduced their price objective on Fidelity National Information Services from $141.00 to $114.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 21st. Oppenheimer cut their price target on Fidelity National Information Services from $126.00 to $118.00 and set an "outperform" rating on the stock in a research note on Monday, July 25th. Finally, Mizuho cut their price target on Fidelity National Information Services from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $123.46.

About Fidelity National Information Services

(Get Rating)

Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.