Avant Financial Advisors LLC Makes New Investment in Fidelity National Information Services, Inc. (NYSE:FIS)

Avant Financial Advisors LLC bought a new stake in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,449 shares of the information technology services provider's stock, valued at approximately $602,000.

Several other hedge funds have also added to or reduced their stakes in FIS. Norges Bank acquired a new stake in Fidelity National Information Services during the fourth quarter worth approximately $635,202,000. Raymond James Financial Inc. bought a new stake in Fidelity National Information Services during the fourth quarter worth $451,458,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Fidelity National Information Services by 100.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider's stock worth $261,037,000 after acquiring an additional 1,616,146 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Fidelity National Information Services by 3.8% during the fourth quarter. Capital Research Global Investors now owns 29,433,286 shares of the information technology services provider's stock worth $2,377,325,000 after buying an additional 1,082,929 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Fidelity National Information Services by 16.5% during the fourth quarter. Northern Trust Corp now owns 6,925,824 shares of the information technology services provider's stock valued at $559,399,000 after purchasing an additional 982,955 shares in the last quarter. Institutional investors and hedge funds own 96.23% of the company's stock.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 844 shares of the stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average cost of $72.04 per share, for a total transaction of $60,801.76. Following the completion of the purchase, the director now owns 11,942 shares of the company's stock, valued at approximately $860,301.68. This represents a 7.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Fidelity National Information Services Trading Up 1.5%

Shares of FIS traded up $1.21 during mid-day trading on Friday, reaching $79.48. 5,576,856 shares of the company's stock traded hands, compared to its average volume of 3,486,578. Fidelity National Information Services, Inc. has a 12 month low of $66.51 and a 12 month high of $91.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $41.76 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.23 and a beta of 1.08. The stock's 50-day moving average is $76.05 and its two-hundred day moving average is $77.76.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Fidelity National Information Services had a net margin of 14.54% and a return on equity of 17.30%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $1.33 EPS. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts forecast that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. Fidelity National Information Services's payout ratio is currently 105.96%.

Wall Street Analyst Weigh In

FIS has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Fidelity National Information Services from $88.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley reduced their price objective on shares of Fidelity National Information Services from $92.00 to $86.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods dropped their target price on shares of Fidelity National Information Services from $102.00 to $92.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 12th. Royal Bank of Canada lowered their price target on shares of Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Oppenheimer upgraded Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 target price for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.11.

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.