Zurcher Kantonalbank Zurich Cantonalbank Has $13.83 Million Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 47.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 230,273 shares of the information technology services provider's stock after selling 208,696 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Fidelity National Information Services were worth $13,832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Fidelity National Information Services by 51.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,010,816 shares of the information technology services provider's stock valued at $166,408,000 after purchasing an additional 1,016,719 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Fidelity National Information Services in the fourth quarter valued at $1,244,000. Korea Investment CORP raised its stake in shares of Fidelity National Information Services by 5.5% during the 3rd quarter. Korea Investment CORP now owns 215,121 shares of the information technology services provider's stock worth $11,890,000 after buying an additional 11,181 shares during the last quarter. Value Holdings Management CO. LLC boosted its position in shares of Fidelity National Information Services by 77.4% in the 3rd quarter. Value Holdings Management CO. LLC now owns 173,000 shares of the information technology services provider's stock worth $9,562,000 after buying an additional 75,500 shares in the last quarter. Finally, Verity & Verity LLC acquired a new stake in Fidelity National Information Services in the 3rd quarter valued at about $7,096,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Information Services Trading Up 1.0 %

Shares of NYSE:FIS traded up $0.73 during trading on Friday, reaching $70.73. 5,607,662 shares of the stock were exchanged, compared to its average volume of 4,459,472. Fidelity National Information Services, Inc. has a 12-month low of $46.91 and a 12-month high of $74.75. The firm's 50-day moving average price is $69.04 and its 200 day moving average price is $61.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $40.77 billion, a price-to-earnings ratio of -6.37, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. Fidelity National Information Services's revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 EPS. On average, sell-side analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has initiated a share buyback program on Monday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Fidelity National Information Services Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. Fidelity National Information Services's dividend payout ratio (DPR) is currently -12.81%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein acquired 775 shares of the stock in a transaction on Monday, April 15th. The stock was bought at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the transaction, the director now directly owns 9,052 shares of the company's stock, valued at $655,093.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FIS shares. Bank of America upped their price target on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley upped their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. Truist Financial boosted their target price on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a "hold" rating in a research note on Tuesday, February 27th. Mizuho raised their price target on shares of Fidelity National Information Services from $73.00 to $76.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. Finally, Evercore ISI boosted their price objective on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the company an "in-line" rating in a research report on Tuesday, March 26th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Fidelity National Information Services currently has a consensus rating of "Moderate Buy" and an average price target of $71.59.

Fidelity National Information Services Company Profile

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.