Truist Financial Corp Has $8.40 Million Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Truist Financial Corp cut its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,826 shares of the information technology services provider’s stock after selling 22,649 shares during the period. Truist Financial Corp’s holdings in Fidelity National Information Services were worth $8,399,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Fidelity National Information Services by 12.7% in the third quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after buying an additional 6,503,451 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fidelity National Information Services by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,498,166 shares of the information technology services provider’s stock valued at $458,850,000 after buying an additional 33,881 shares during the last quarter. Northern Trust Corp lifted its position in shares of Fidelity National Information Services by 10.6% in the third quarter. Northern Trust Corp now owns 7,423,200 shares of the information technology services provider’s stock valued at $410,280,000 after buying an additional 708,947 shares during the last quarter. London Co. of Virginia lifted its position in shares of Fidelity National Information Services by 59.4% in the third quarter. London Co. of Virginia now owns 7,069,492 shares of the information technology services provider’s stock valued at $390,731,000 after buying an additional 2,633,196 shares during the last quarter. Finally, Baupost Group LLC MA lifted its position in shares of Fidelity National Information Services by 2.7% in the third quarter. Baupost Group LLC MA now owns 6,960,219 shares of the information technology services provider’s stock valued at $384,691,000 after buying an additional 185,219 shares during the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein purchased 775 shares of Fidelity National Information Services stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average price of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Fidelity National Information Services Stock Performance

Shares of FIS opened at $70.72 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $70.43 and a two-hundred day moving average price of $62.34. The firm has a market capitalization of $39.71 billion, a P/E ratio of -6.29, a P/E/G ratio of 0.85 and a beta of 0.98. Fidelity National Information Services, Inc. has a 52 week low of $46.91 and a 52 week high of $74.75.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 earnings per share. Equities analysts forecast that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has initiated a stock buyback plan on Monday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Fidelity National Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. Fidelity National Information Services’s payout ratio is presently -12.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FIS. BNP Paribas cut Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Thursday, April 11th. Bank of America increased their target price on Fidelity National Information Services from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Evercore ISI increased their target price on Fidelity National Information Services from $62.00 to $75.00 and gave the stock an “in-line” rating in a research note on Tuesday. TheStreet upgraded Fidelity National Information Services from a “d” rating to a “c” rating in a research note on Monday, February 26th. Finally, Mizuho raised their price objective on Fidelity National Information Services from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Fidelity National Information Services has an average rating of “Moderate Buy” and a consensus target price of $72.50.

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.