Fidelity National Information Services, Inc. $FIS Stock Sold by Mountain Pacific Investment Advisers LLC

Key Points

• Mountain Pacific Investment Advisers cut its FIS stake by 54.6% in the third quarter, selling 59,647 shares and retaining 49,552 shares valued at about $1.63 million.
• FIS reported quarterly EPS of $1.48, slightly above estimates, while revenue of $3.38 billion matched forecasts and rose 29.1% year over year. The company declared a $0.44 quarterly dividend, equal to a 4.5% yield at the article’s cited share price.
• Analyst sentiment was mixed, with an overall “Hold” rating and average price target of $49.04. Director Jeffrey Goldstein also bought 1,585 shares under a pre-arranged trading plan.

Mountain Pacific Investment Advisers LLC decreased its position in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 54.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,552 shares of the information technology services provider's stock after selling 59,647 shares during the quarter. Mountain Pacific Investment Advisers LLC's holdings in Fidelity National Information Services were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of FIS. BlackRock Inc. purchased a new position in shares of Fidelity National Information Services during the second quarter worth approximately $1,730,200,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Fidelity National Information Services in the 2nd quarter valued at $219,162,000. Bank of America Corp DE bought a new position in shares of Fidelity National Information Services during the 2nd quarter valued at $189,387,000. Legal & General Group Plc bought a new position in shares of Fidelity National Information Services during the 2nd quarter valued at $129,815,000. Finally, Perpetual Ltd raised its position in Fidelity National Information Services by 32.9% in the 3rd quarter. Perpetual Ltd now owns 3,262,131 shares of the information technology services provider's stock worth $107,324,000 after purchasing an additional 807,482 shares during the period. 96.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jeffrey Goldstein acquired 1,585 shares of Fidelity National Information Services stock in a transaction on Thursday, October 15th. The shares were acquired at an average cost of $36.40 per share, with a total value of $57,694.00. Following the transaction, the director owned 18,697 shares in the company, valued at $680,570.80. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.28% of the stock is currently owned by company insiders.

Fidelity National Information Services Stock Performance

Shares of NYSE:FIS opened at $38.95 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.96. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.47 and a beta of 0.84. Fidelity National Information Services, Inc. has a 12 month low of $32.10 and a 12 month high of $68.37. The company has a 50-day moving average price of $36.91 and a 200-day moving average price of $43.64.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.01. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.38 billion. Fidelity National Information Services had a return on equity of 20.95% and a net margin of 27.64%. Fidelity National Information Services's quarterly revenue was up 29.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 EPS. As a group, equities analysts anticipate that Fidelity National Information Services, Inc. will post 6.20 EPS for the current year.

Fidelity National Information Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be issued a $0.44 dividend. The ex-dividend date is Monday, December 14th. This represents a $1.76 annualized dividend and a yield of 4.5%. Fidelity National Information Services's payout ratio is 27.04%.

Analysts Set New Price Targets

Several analysts have weighed in on FIS shares. Susquehanna lowered their price target on shares of Fidelity National Information Services from $46.00 to $37.00 and set a "neutral" rating for the company in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Fidelity National Information Services from $45.00 to $40.00 and set a "hold" rating on the stock in a research note on Tuesday, September 29th. The Goldman Sachs Group lowered their target price on Fidelity National Information Services from $52.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, October 13th. National Bank Financial set a $45.00 target price on Fidelity National Information Services in a report on Friday, October 16th. Finally, Keefe, Bruyette & Woods reduced their price target on Fidelity National Information Services from $60.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $49.04.

About Fidelity National Information Services

Fidelity National Information Services, Inc NYSE: FIS is a global financial technology company that provides software, services and technology infrastructure to banks, financial institutions, merchants and other businesses. Its solutions are designed to support transaction processing, digital banking, payments, risk management and other essential financial operations.

FIS offers core banking and digital banking platforms, card and payment processing services, fraud and financial crime prevention tools, and technologies that help financial institutions manage accounts, lending and other banking activities.

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