Empire Life Investments Inc. Reduces Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• Empire Life Investments Inc. reduced its stake in Fidelity National Information Services by 4.8%, selling 10,702 shares and holding a total of 211,873 shares valued at approximately $15.8 million.
• Several institutional investors have modified their positions in Fidelity, with notable activity including Brighton Jones LLC's new purchase valued at $347,000 and Wellington Management increasing its stake by 24.0%.
• Analysts have raised price targets for FIS, with current averages around $91.00, and the stock holds a consensus rating of "Moderate Buy" with various institutions upgrading their ratings.

Empire Life Investments Inc. trimmed its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,873 shares of the information technology services provider's stock after selling 10,702 shares during the period. Empire Life Investments Inc.'s holdings in Fidelity National Information Services were worth $15,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Capital Research Global Investors lifted its stake in Fidelity National Information Services by 3.8% during the 4th quarter. Capital Research Global Investors now owns 29,433,286 shares of the information technology services provider's stock valued at $2,377,325,000 after acquiring an additional 1,082,929 shares during the period. Invesco Ltd. increased its holdings in Fidelity National Information Services by 9.1% in the 4th quarter. Invesco Ltd. now owns 7,573,133 shares of the information technology services provider's stock worth $611,682,000 after acquiring an additional 632,328 shares in the last quarter. Northern Trust Corp increased its holdings in Fidelity National Information Services by 16.5% in the 4th quarter. Northern Trust Corp now owns 6,925,824 shares of the information technology services provider's stock worth $559,399,000 after acquiring an additional 982,955 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Fidelity National Information Services by 4.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,203,963 shares of the information technology services provider's stock worth $463,312,000 after buying an additional 246,558 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Fidelity National Information Services by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,618,865 shares of the information technology services provider's stock worth $453,849,000 after buying an additional 151,922 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stephens upped their price objective on shares of Fidelity National Information Services from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Robert W. Baird upped their price objective on shares of Fidelity National Information Services from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. TD Cowen raised shares of Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a report on Monday, April 21st. Oppenheimer raised shares of Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 price objective for the company in a report on Wednesday, April 23rd. Finally, UBS Group lowered their target price on shares of Fidelity National Information Services from $84.00 to $82.00 and set a "neutral" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Fidelity National Information Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.70.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS traded down $2.26 during mid-day trading on Wednesday, hitting $69.96. 6,489,941 shares of the company were exchanged, compared to its average volume of 2,744,701. Fidelity National Information Services, Inc. has a 1-year low of $66.51 and a 1-year high of $91.98. The company has a quick ratio of 0.63, a current ratio of 0.59 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $80.31 and a 200-day simple moving average of $76.90. The firm has a market cap of $36.76 billion, a price-to-earnings ratio of 388.68 and a beta of 1.04.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 EPS for the quarter, meeting analysts' consensus estimates of $1.36. Fidelity National Information Services had a return on equity of 18.73% and a net margin of 1.09%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the company earned $1.36 earnings per share. Fidelity National Information Services's quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Fidelity National Information Services, Inc. will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 10th. Fidelity National Information Services's payout ratio is 105.96%.

About Fidelity National Information Services

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.