DAVENPORT & Co LLC Increases Position in Fidelity National Information Servcs Inc (NYSE:FIS)

DAVENPORT & Co LLC grew its stake in Fidelity National Information Servcs Inc (NYSE:FIS) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,803 shares of the information technology services provider’s stock after acquiring an additional 350 shares during the quarter. DAVENPORT & Co LLC’s holdings in Fidelity National Information Servcs were worth $510,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Harbor Investment Advisory LLC increased its holdings in shares of Fidelity National Information Servcs by 50.8% in the 2nd quarter. Harbor Investment Advisory LLC now owns 282 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 95 shares during the period. Center for Financial Planning Inc. increased its holdings in shares of Fidelity National Information Servcs by 63.3% in the 1st quarter. Center for Financial Planning Inc. now owns 289 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 112 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Fidelity National Information Servcs by 66.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 301 shares of the information technology services provider’s stock valued at $37,000 after acquiring an additional 120 shares during the period. Evolution Wealth Advisors LLC increased its holdings in shares of Fidelity National Information Servcs by 275.6% in the 1st quarter. Evolution Wealth Advisors LLC now owns 308 shares of the information technology services provider’s stock valued at $37,000 after acquiring an additional 226 shares during the period. Finally, City Holding Co. increased its holdings in shares of Fidelity National Information Servcs by 52.9% in the 1st quarter. City Holding Co. now owns 312 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 108 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

In related news, COO Stephanie Ferris sold 6,582 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $138.91, for a total value of $914,305.62. Following the completion of the transaction, the chief operating officer now owns 6,991 shares of the company’s stock, valued at approximately $971,119.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce F. Lowthers, Jr. sold 89,478 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $138.56, for a total value of $12,398,071.68. Following the completion of the transaction, the insider now directly owns 36,213 shares of the company’s stock, valued at approximately $5,017,673.28. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Shares of FIS stock opened at $146.31 on Friday. The stock has a market cap of $90.40 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67. The business has a 50-day simple moving average of $137.91 and a 200-day simple moving average of $135.80. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.39. Fidelity National Information Servcs Inc has a 52-week low of $91.68 and a 52-week high of $158.21.

Fidelity National Information Servcs (NYSE:FIS) last issued its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Fidelity National Information Servcs had a return on equity of 7.89% and a net margin of 1.45%. The company’s revenue for the quarter was up 49.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. Sell-side analysts anticipate that Fidelity National Information Servcs Inc will post 5.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.40 dividend on an annualized basis and a yield of 0.96%. Fidelity National Information Servcs’s payout ratio is 24.96%.

Several research analysts recently weighed in on the company. UBS Group dropped their target price on Fidelity National Information Servcs from $146.00 to $142.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Stephens boosted their target price on Fidelity National Information Servcs from $150.00 to $164.00 in a research note on Monday, July 20th. JPMorgan Chase & Co. boosted their target price on Fidelity National Information Servcs from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. Argus assumed coverage on Fidelity National Information Servcs in a research note on Tuesday, July 14th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on Fidelity National Information Servcs from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $156.72.

Fidelity National Information Servcs Profile

Fidelity National Information Services, Inc operates as a financial services technology company in the United States and internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated Financial Solutions segment offers core processing and ancillary applications; digital solutions, including Internet, mobile, and e-banking; fraud, risk management, and compliance solutions; electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; item processing and output services; government payments solutions; and e-payment solutions.

See Also: What is FinTech?

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

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