Alpha Cubed Investments LLC Buys 52,223 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Alpha Cubed Investments LLC lifted its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,439 shares of the information technology services provider's stock after acquiring an additional 52,223 shares during the quarter. Alpha Cubed Investments LLC's holdings in Fidelity National Information Services were worth $9,638,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FIS. Parkside Financial Bank & Trust raised its stake in Fidelity National Information Services by 9.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider's stock worth $134,000 after acquiring an additional 203 shares during the period. Allworth Financial LP raised its stake in Fidelity National Information Services by 14.4% during the 3rd quarter. Allworth Financial LP now owns 1,637 shares of the information technology services provider's stock worth $90,000 after acquiring an additional 206 shares during the period. First Business Financial Services Inc. raised its stake in Fidelity National Information Services by 4.4% during the 3rd quarter. First Business Financial Services Inc. now owns 5,514 shares of the information technology services provider's stock worth $305,000 after acquiring an additional 230 shares during the period. Catalyst Financial Partners LLC raised its stake in Fidelity National Information Services by 3.1% during the 3rd quarter. Catalyst Financial Partners LLC now owns 8,502 shares of the information technology services provider's stock worth $470,000 after acquiring an additional 255 shares during the period. Finally, Blue Trust Inc. raised its stake in Fidelity National Information Services by 7.5% during the 4th quarter. Blue Trust Inc. now owns 3,937 shares of the information technology services provider's stock worth $218,000 after acquiring an additional 275 shares during the period. 96.23% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Information Services Trading Down 2.2 %

NYSE FIS traded down $1.55 on Tuesday, hitting $67.89. 4,536,506 shares of the stock were exchanged, compared to its average volume of 4,416,464. 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 stock has a fifty day moving average price of $70.15 and a two-hundred day moving average price of $62.14. The firm has a market capitalization of $39.14 billion, a P/E ratio of -6.15, a P/E/G ratio of 0.88 and a beta of 0.97. Fidelity National Information Services, Inc. has a 52-week low of $46.91 and a 52-week high of $74.75.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the business posted $1.71 earnings per share. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Research analysts forecast that Fidelity National Information Services, Inc. will post 4.66 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 2.12%. Fidelity National Information Services's dividend payout ratio (DPR) is -12.81%.

Fidelity National Information Services announced that its board has authorized a stock repurchase plan on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FIS. Evercore ISI raised their target price on shares of Fidelity National Information Services from $62.00 to $75.00 and gave the stock an "in-line" rating in a research note on Tuesday. Truist Financial lifted their price objective on shares of Fidelity National Information Services from $55.00 to $65.00 and gave the company a "hold" rating in a research report on Tuesday, February 27th. Bank of America lifted their price objective on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a "buy" rating and a $84.00 price objective on the stock. Finally, BNP Paribas lowered shares of Fidelity National Information Services from an "outperform" rating to a "neutral" rating and set a $72.00 target price for the company. in a report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $72.50.

Insider Transactions at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the firm's stock in a transaction dated Monday, April 15th. The stock was acquired at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the completion of the transaction, the director now owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.68% of the company's stock.

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.

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