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Maryland State Retirement & Pension System Cuts Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Fidelity National Information Services logo with Business Services background

Key Points

  • The Maryland State Retirement & Pension System reduced its stake in Fidelity National Information Services by 12.5%, holding 25,530 shares valued at approximately $1.91 million as of the latest SEC filing.
  • Institutional investors continue to show interest, with notable stake increases from firms like Capital Research Global Investors and Marshall Wace LLP in the recent quarters.
  • On April 21st, Citigroup upgraded Fidelity's stock rating from "neutral" to "buy", alongside several other analysts raising their price targets, reflecting positive sentiment with a consensus rating of "Moderate Buy."
  • Need better tools to track Fidelity National Information Services? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Maryland State Retirement & Pension System reduced its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 12.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 25,530 shares of the information technology services provider's stock after selling 3,632 shares during the period. Maryland State Retirement & Pension System's holdings in Fidelity National Information Services were worth $1,907,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FIS. Headlands Technologies LLC lifted its stake in Fidelity National Information Services by 33.4% in the first quarter. Headlands Technologies LLC now owns 2,613 shares of the information technology services provider's stock worth $195,000 after purchasing an additional 654 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Fidelity National Information Services by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,126,213 shares of the information technology services provider's stock worth $755,928,000 after purchasing an additional 31,626 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in Fidelity National Information Services in the first quarter worth $3,179,000. WealthShield Partners LLC lifted its stake in Fidelity National Information Services by 39.9% in the first quarter. WealthShield Partners LLC now owns 38,472 shares of the information technology services provider's stock worth $2,873,000 after purchasing an additional 10,972 shares during the last quarter. Finally, AXS Investments LLC lifted its stake in Fidelity National Information Services by 8.9% in the first quarter. AXS Investments LLC now owns 25,263 shares of the information technology services provider's stock worth $1,887,000 after purchasing an additional 2,059 shares during the last quarter. 96.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FIS has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Fidelity National Information Services from $92.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Robert W. Baird boosted their price target on shares of Fidelity National Information Services from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada decreased their price objective 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. TD Cowen upgraded shares of Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price objective on the stock in a research report on Monday, April 21st. Finally, Citigroup upgraded shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $79.00 to $86.00 in a research report on Monday, April 21st. One 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's stock. Based on data from MarketBeat.com, Fidelity National Information Services presently has an average rating of "Moderate Buy" and a consensus price target of $91.63.

View Our Latest Stock Analysis on FIS

Fidelity National Information Services Stock Up 2.6%

Shares of NYSE FIS traded up $1.85 during mid-day trading on Tuesday, hitting $71.72. 3,034,674 shares of the stock traded hands, compared to its average volume of 3,611,256. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.59 and a current ratio of 0.59. Fidelity National Information Services, Inc. has a 52 week low of $66.51 and a 52 week high of $91.98. The company has a market cap of $37.46 billion, a price-to-earnings ratio of 398.44 and a beta of 1.04. The stock has a fifty day moving average price of $79.60 and a 200-day moving average price of $76.65.

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

Fidelity National Information Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Fidelity National Information Services's dividend payout ratio is 888.89%.

About Fidelity National Information Services

(Free Report)

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.

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Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

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