Fidelity National Information Services, Inc. (NYSE:FIS) Stock Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,264,092 shares of the information technology services provider's stock after selling 47,524 shares during the quarter. Principal Financial Group Inc. owned 0.24% of Fidelity National Information Services worth $94,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of Fidelity National Information Services by 3.8% in the fourth 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 purchasing an additional 1,082,929 shares during the period. Geode Capital Management LLC raised its holdings in Fidelity National Information Services by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 13,051,569 shares of the information technology services provider's stock valued at $1,052,819,000 after acquiring an additional 208,127 shares in the last quarter. Boston Partners raised its holdings in Fidelity National Information Services by 3.9% in the fourth quarter. Boston Partners now owns 11,999,052 shares of the information technology services provider's stock valued at $968,326,000 after acquiring an additional 446,544 shares in the last quarter. Norges Bank acquired a new stake in Fidelity National Information Services in the fourth quarter valued at $635,202,000. Finally, Invesco Ltd. raised its holdings in Fidelity National Information Services by 9.1% in the fourth quarter. Invesco Ltd. now owns 7,573,133 shares of the information technology services provider's stock valued at $611,682,000 after acquiring an additional 632,328 shares in the last quarter. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FIS. Citigroup raised shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and upped their price target for the company from $79.00 to $86.00 in a report on Monday, April 21st. UBS Group upped their price target on shares of Fidelity National Information Services from $81.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Robert W. Baird upped their price target on shares of Fidelity National Information Services from $80.00 to $82.00 and gave the company a "neutral" rating in a report on Friday, April 4th. Stephens upped their price target 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. Finally, Oppenheimer raised shares of Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 target price on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.75.

Fidelity National Information Services Stock Performance

Shares of Fidelity National Information Services stock traded down $0.95 during trading on Tuesday, hitting $79.89. 2,323,782 shares of the stock were exchanged, compared to its average volume of 3,365,626. The stock's fifty day moving average is $79.79 and its 200 day moving average is $76.92. The stock has a market cap of $41.97 billion, a PE ratio of 52.91, a P/E/G ratio of 1.50 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.63. Fidelity National Information Services, Inc. has a 12 month low of $66.51 and a 12 month high of $91.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. Fidelity National Information Services had a net margin of 8.10% and a return on equity of 18.15%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. As a group, sell-side analysts anticipate that Fidelity National Information Services, Inc. will post 5.74 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were given a $0.40 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. Fidelity National Information Services's dividend payout ratio is presently 105.96%.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 844 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average price of $72.04 per share, for a total transaction of $60,801.76. Following the transaction, the director directly owned 11,942 shares of the company's stock, valued at approximately $860,301.68. This represents a 7.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

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.