February 22, 2024

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Bridgefront Capital LLC Acquires Shares of 8,120 Fidelity National Information Services, Inc. (NYSE:FIS)

6 min read
Bridgefront Capital LLC Acquires Shares of 8,120 Fidelity National Information Services, Inc. (NYSE:FIS)

Bridgefront Capital LLC acquired a new stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,120 shares of the information technology services provider’s stock, valued at approximately $614,000. Fidelity National Information Services comprises 0.6{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} of Bridgefront Capital LLC’s holdings, making the stock its 27th largest position.

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Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of Fidelity National Information Services by 491.5{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} during the 1st quarter. Acadian Asset Management LLC now owns 3,904 shares of the information technology services provider’s stock valued at $391,000 after acquiring an additional 3,244 shares during the period. Synovus Financial Corp grew its position in shares of Fidelity National Information Services by 71.6{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} during the 1st quarter. Synovus Financial Corp now owns 9,791 shares of the information technology services provider’s stock valued at $982,000 after acquiring an additional 4,085 shares during the period. Prudential PLC acquired a new stake in shares of Fidelity National Information Services during the 1st quarter valued at about $1,173,000. Baird Financial Group Inc. grew its position in shares of Fidelity National Information Services by 8.2{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} during the 1st quarter. Baird Financial Group Inc. now owns 194,714 shares of the information technology services provider’s stock valued at $19,553,000 after acquiring an additional 14,819 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of Fidelity National Information Services by 83.3{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} during the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 90.25{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} of the company’s stock.

Fidelity National Information Services Trading Down 4.4 {76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823}

NYSE FIS traded down $2.37 on Wednesday, reaching $50.95. The stock had a trading volume of 3,629,950 shares, compared to its average volume of 6,119,990. The firm has a market capitalization of $30.16 billion, a price-to-earnings ratio of -1.89, a P/E/G ratio of 0.93 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.52. Fidelity National Information Services, Inc. has a 12-month low of $49.64 and a 12-month high of $106.65. The stock has a fifty day moving average price of $68.73 and a two-hundred day moving average price of $72.67.

Fidelity National Information Services (NYSE:FIS – Get Rating) last announced its earnings results on Monday, February 13th. The information technology services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.01. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.69 billion. Fidelity National Information Services had a positive return on equity of 9.71{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} and a negative net margin of 115.07{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823}. The firm’s quarterly revenue was up 1.1{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.92 earnings per share. As a group, sell-side analysts forecast that Fidelity National Information Services, Inc. will post 5.88 EPS for the current fiscal year.

Fidelity National Information Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a $0.52 dividend. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, March 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.08{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823}. Fidelity National Information Services’s payout ratio is presently -7.37{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823}.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TheStreet cut Fidelity National Information Services from a “c” rating to a “d” rating in a report on Monday, February 13th. StockNews.com cut Fidelity National Information Services from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. Royal Bank of Canada lowered their price objective on Fidelity National Information Services from $93.00 to $81.00 and set an “outperform” rating on the stock in a report on Tuesday, February 14th. Barclays lowered their price objective on Fidelity National Information Services from $73.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 14th. Finally, Morgan Stanley upgraded Fidelity National Information Services from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $73.00 to $79.00 in a report on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.17.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey E. Stiefler purchased 2,243 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was acquired at an average price of $66.88 per share, for a total transaction of $150,011.84. Following the completion of the purchase, the director now directly owns 3,343 shares in the company, valued at approximately $223,579.84. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Fidelity National Information Services news, Director Jeffrey E. Stiefler purchased 2,243 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was acquired at an average price of $66.88 per share, for a total transaction of $150,011.84. Following the completion of the purchase, the director now directly owns 3,343 shares in the company, valued at approximately $223,579.84. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Erik D. Hoag sold 5,658 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $63.88, for a total transaction of $361,433.04. Following the transaction, the chief financial officer now owns 16,368 shares of the company’s stock, valued at approximately $1,045,587.84. The disclosure for this sale can be found here. 0.68{76cecface0748ddeecd9e742a6b04748a479068b020f881d389c6d6775b6c823} of the stock is owned by corporate insiders.

Fidelity National Information Services Company Profile

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Fidelity National Information Services, Inc engages in the provision of technology solutions for financial institutions and businesses. It operates through the following segments: Banking, Merchant, Capital Markets, and Corporate and Other. The Banking segment focuses on serving financial institutions with core processing software, transaction processing software, and complementary applications and services.

Further Reading

Want to see what other hedge funds are holding FIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating).

Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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