Main Street Financial Solutions LLC Takes Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Main Street Financial Solutions LLC acquired a new position in Fidelity National Information Services, Inc. (NYSE:FIS) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 11,249 shares of the information technology services provider’s stock, valued at approximately $848,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Fidelity National Information Services by 19.1% during the first quarter. Vanguard Group Inc. now owns 68,658,572 shares of the information technology services provider’s stock worth $5,093,093,000 after buying an additional 11,023,109 shares during the period. Norges Bank purchased a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $478,594,000. Lyrical Asset Management LP acquired a new stake in shares of Fidelity National Information Services in the 4th quarter worth approximately $260,316,000. Boston Partners increased its stake in Fidelity National Information Services by 642.7% in the 1st quarter. Boston Partners now owns 4,470,605 shares of the information technology services provider’s stock valued at $331,047,000 after purchasing an additional 3,868,683 shares in the last quarter. Finally, FIL Ltd raised its holdings in Fidelity National Information Services by 27.3% during the fourth quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after purchasing an additional 2,758,049 shares during the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

Fidelity National Information Services Trading Up 0.8 %

Shares of FIS stock opened at $84.23 on Friday. The firm’s 50-day simple moving average is $78.05 and its 200-day simple moving average is $74.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.35 and a quick ratio of 1.35. Fidelity National Information Services, Inc. has a 1-year low of $46.91 and a 1-year high of $84.40. The firm has a market cap of $46.85 billion, a P/E ratio of -8.23, a PEG ratio of 0.80 and a beta of 1.08.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.13. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm posted $1.55 earnings per share. Fidelity National Information Services’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that Fidelity National Information Services, Inc. will post 5.08 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently -14.08%.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein acquired 719 shares of Fidelity National Information Services stock in a transaction dated Monday, July 15th. The shares were acquired at an average cost of $76.81 per share, with a total value of $55,226.39. Following the purchase, the director now directly owns 9,771 shares of the company’s stock, valued at approximately $750,510.51. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FIS shares. Morgan Stanley cut Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 price target for the company. in a research report on Monday, July 22nd. Susquehanna raised their target price on shares of Fidelity National Information Services from $86.00 to $88.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. Barclays upped their price target on shares of Fidelity National Information Services from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods raised their price objective on shares of Fidelity National Information Services from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price objective on Fidelity National Information Services from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.65.

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.