Fidelity National Information Services (NYSE:FIS) Shares Gap Down – Here’s What Happened

Shares of Fidelity National Information Services, Inc. (NYSE:FIS) gapped down before the market opened on Tuesday . The stock had previously closed at $82.66, but opened at $72.00. Fidelity National Information Services shares last traded at $69.01, with a volume of 1,446,778 shares traded.

Analyst Upgrades and Downgrades

FIS has been the subject of a number of research reports. Mizuho increased their price objective on Fidelity National Information Services from $91.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley decreased their price target on shares of Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating for the company in a research note on Wednesday. TD Cowen boosted their price objective on shares of Fidelity National Information Services from $78.00 to $86.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their target price on shares of Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada cut their price target on shares of Fidelity National Information Services from $104.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.95.

Fidelity National Information Services Stock Performance

The stock has a market capitalization of $39.08 billion, a P/E ratio of 28.92, a PEG ratio of 0.63 and a beta of 1.04. The stock’s 50-day simple moving average is $80.83 and its 200 day simple moving average is $82.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.18 and a quick ratio of 1.18.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.05. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. During the same period in the previous year, the company posted $0.94 EPS. Research analysts expect that Fidelity National Information Services, Inc. will post 5.18 EPS for the current fiscal year.

Fidelity National Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, March 11th. Fidelity National Information Services’s dividend payout ratio is currently 57.37%.

Insider Transactions at Fidelity National Information Services

In related news, EVP Lenore D. Williams sold 11,305 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $87.97, for a total transaction of $994,500.85. Following the sale, the executive vice president now owns 32,199 shares of the company’s stock, valued at $2,832,546.03. This represents a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Goldstein purchased 701 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was bought at an average price of $79.97 per share, for a total transaction of $56,058.97. Following the transaction, the director now directly owns 11,098 shares of the company’s stock, valued at $887,507.06. This trade represents a 6.74 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Information Services

Large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Fidelity National Information Services during the 4th quarter worth approximately $635,202,000. Raymond James Financial Inc. acquired a new position in Fidelity National Information Services during the fourth quarter valued at approximately $451,458,000. Raymond James & Associates boosted its holdings in shares of Fidelity National Information Services by 449.8% in the 3rd quarter. Raymond James & Associates now owns 4,103,793 shares of the information technology services provider’s stock valued at $343,693,000 after purchasing an additional 3,357,329 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Fidelity National Information Services by 100.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider’s stock valued at $261,037,000 after purchasing an additional 1,616,146 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Fidelity National Information Services by 1,390.5% during the 4th quarter. KBC Group NV now owns 1,180,258 shares of the information technology services provider’s stock worth $95,330,000 after buying an additional 1,101,072 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

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.