PNC Financial Services Group Inc. Has $18.85 Million Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• PNC Financial Services Group Inc. has reduced its stake in Fidelity National Information Services, Inc. by 7%, owning 252,459 shares valued at $18.85 million as of the latest SEC filing.
• Other institutional investors have increased their positions, with Capital Research Global Investors now holding 29.43 million shares after a 3.8% increase, and GAMMA Investing LLC boosting its holdings dramatically by 6,171.5% in the first quarter.
• Fidelity National Information Services will pay a quarterly dividend of $0.40 per share on September 24th, reflecting a 2.2% annualized yield and a dividend payout ratio of 105.96%.

PNC Financial Services Group Inc. lowered its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,459 shares of the information technology services provider's stock after selling 19,140 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Fidelity National Information Services were worth $18,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in Fidelity National Information Services in the 1st quarter valued at $276,000. Brown Advisory Inc. grew its holdings in shares of Fidelity National Information Services by 16.7% in the 1st quarter. Brown Advisory Inc. now owns 329,325 shares of the information technology services provider's stock worth $24,594,000 after purchasing an additional 47,086 shares during the last quarter. Compass Wealth Management LLC grew its holdings in Fidelity National Information Services by 13.5% during the 1st quarter. Compass Wealth Management LLC now owns 77,794 shares of the information technology services provider's stock worth $5,810,000 after acquiring an additional 9,251 shares during the last quarter. Brighton Jones LLC bought a new stake in Fidelity National Information Services during the 4th quarter worth about $347,000. Finally, Meritage Portfolio Management grew its holdings in Fidelity National Information Services by 43.9% during the 1st quarter. Meritage Portfolio Management now owns 82,571 shares of the information technology services provider's stock worth $6,166,000 after acquiring an additional 25,203 shares during the last quarter. Institutional investors own 96.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FIS shares. Citigroup raised shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $79.00 to $86.00 in a report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Fidelity National Information Services from $92.00 to $88.00 and set an "outperform" rating on the stock in a report on Wednesday. Stephens upped their target price on shares of Fidelity National Information Services from $90.00 to $100.00 and gave the company an "overweight" rating 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 target price on the stock in a research report on Monday, April 21st. Finally, Oppenheimer upgraded 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 research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $90.70.

Fidelity National Information Services Stock Down 3.1%

Shares of FIS traded down $2.26 during mid-day trading on Wednesday, hitting $69.96. 6,489,941 shares of the company's stock were exchanged, compared to its average volume of 2,744,701. The company has a market cap of $36.76 billion, a PE ratio of 388.68 and a beta of 1.04. 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 50-day simple moving average of $80.31 and a 200 day simple moving average of $76.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.59 and a quick ratio of 0.63.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share for the quarter, hitting the consensus estimate of $1.36. Fidelity National Information Services had a net margin of 1.09% and a return on equity of 18.73%. The company had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the business earned $1.36 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. Fidelity National Information Services's dividend payout ratio (DPR) is currently 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.