Massachusetts Financial Services Co. MA Cuts Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Massachusetts Financial Services Co. MA cut its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,128,349 shares of the information technology services provider’s stock after selling 264,183 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Fidelity National Information Services were worth $537,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Fidelity National Information Services during the first quarter worth about $29,000. Delta Asset Management LLC TN boosted its holdings in Fidelity National Information Services by 600.0% during the fourth quarter. Delta Asset Management LLC TN now owns 525 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 450 shares during the last quarter. EdgeRock Capital LLC purchased a new position in Fidelity National Information Services in the second quarter valued at about $35,000. Family Firm Inc. purchased a new position in Fidelity National Information Services in the second quarter valued at about $35,000. Finally, Palisade Asset Management LLC purchased a new position in Fidelity National Information Services in the first quarter valued at about $37,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 719 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were purchased at an average price of $76.81 per share, with a total value of $55,226.39. Following the acquisition, the director now directly owns 9,771 shares of the company’s stock, valued at $750,510.51. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FIS. Morgan Stanley cut shares of Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 target price on the stock. in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Fidelity National Information Services from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada boosted their target price on shares of Fidelity National Information Services from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods boosted their target price on shares of Fidelity National Information Services from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Fidelity National Information Services from $70.00 to $73.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.65.

Fidelity National Information Services Stock Performance

Fidelity National Information Services stock opened at $85.03 on Tuesday. The firm’s 50 day simple moving average is $78.43 and its 200 day simple moving average is $75.16. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $46.39 billion, a PE ratio of -8.31, a price-to-earnings-growth ratio of 0.82 and a beta of 1.08. Fidelity National Information Services, Inc. has a 1-year low of $46.91 and a 1-year high of $85.26.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.13. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. As a group, analysts expect that Fidelity National Information Services, Inc. will post 5.08 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, September 10th. Fidelity National Information Services’s payout ratio is -14.08%.

Fidelity National Information Services 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.