Fidelity National Information Services, Inc. (NYSE:FIS) Shares Sold by Poplar Forest Capital LLC

Poplar Forest Capital LLC lowered its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,676 shares of the information technology services provider’s stock after selling 141,693 shares during the period. Fidelity National Information Services makes up 3.1% of Poplar Forest Capital LLC’s portfolio, making the stock its 19th biggest position. Poplar Forest Capital LLC owned about 0.06% of Fidelity National Information Services worth $21,365,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Fidelity National Information Services by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 57,885,046 shares of the information technology services provider’s stock valued at $3,199,306,000 after purchasing an additional 6,503,451 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fidelity National Information Services by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,498,166 shares of the information technology services provider’s stock valued at $458,850,000 after purchasing an additional 33,881 shares in the last quarter. Northern Trust Corp grew its holdings in Fidelity National Information Services by 10.6% during the 3rd quarter. Northern Trust Corp now owns 7,423,200 shares of the information technology services provider’s stock valued at $410,280,000 after purchasing an additional 708,947 shares in the last quarter. London Co. of Virginia grew its holdings in Fidelity National Information Services by 59.4% during the 3rd quarter. London Co. of Virginia now owns 7,069,492 shares of the information technology services provider’s stock valued at $390,731,000 after purchasing an additional 2,633,196 shares in the last quarter. Finally, Baupost Group LLC MA grew its holdings in Fidelity National Information Services by 2.7% during the 3rd quarter. Baupost Group LLC MA now owns 6,960,219 shares of the information technology services provider’s stock valued at $384,691,000 after purchasing an additional 185,219 shares in the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

Insider Activity

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

Fidelity National Information Services Price Performance

Shares of NYSE:FIS traded down $1.09 on Wednesday, reaching $70.81. 4,247,344 shares of the company traded hands, compared to its average volume of 4,440,771. Fidelity National Information Services, Inc. has a fifty-two week low of $46.91 and a fifty-two week high of $74.75. The company’s 50 day moving average is $69.78 and its 200-day moving average is $61.71. The stock has a market capitalization of $40.82 billion, a PE ratio of -6.30, a P/E/G ratio of 0.90 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the company posted $1.71 EPS. Fidelity National Information Services’s revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 earnings per share for the current fiscal year.

Fidelity National Information Services declared that its board has authorized a share buyback program on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Fidelity National Information Services Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.03%. Fidelity National Information Services’s payout ratio is currently -12.81%.

Analyst Ratings Changes

A number of research firms have commented on FIS. JPMorgan Chase & Co. increased their price objective on shares of Fidelity National Information Services from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Morgan Stanley increased their price objective on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Evercore ISI increased their price objective on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Royal Bank of Canada increased their price objective on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, BNP Paribas downgraded shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Fidelity National Information Services has an average rating of “Moderate Buy” and a consensus target price of $71.59.

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.