Arizona State Retirement System decreased its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 119,524 shares of the information technology services provider’s stock after selling 4,600 shares during the period. Arizona State Retirement System’s holdings in Fidelity National Information Services were worth $10,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. National Pension Service increased its position in shares of Fidelity National Information Services by 10.0% in the first quarter. National Pension Service now owns 263,688 shares of the information technology services provider’s stock valued at $21,108,000 after buying an additional 23,897 shares in the last quarter. Private Trust Co. NA increased its position in shares of Fidelity National Information Services by 18.6% in the first quarter. Private Trust Co. NA now owns 4,966 shares of the information technology services provider’s stock valued at $395,000 after buying an additional 778 shares in the last quarter. Barometer Capital Management Inc. bought a new position in shares of Fidelity National Information Services during the first quarter valued at about $637,000. Shell Asset Management Co. increased its position in shares of Fidelity National Information Services by 110.3% in the second quarter. Shell Asset Management Co. now owns 75,284 shares of the information technology services provider’s stock valued at $6,429,000 after buying an additional 39,483 shares in the last quarter. Finally, Achmea Investment Management B.V. bought a new position in shares of Fidelity National Information Services during the first quarter valued at about $225,000. Hedge funds and other institutional investors own 86.70% of the company’s stock.

Shares of Fidelity National Information Services, Inc. (NYSE FIS) opened at 89.26 on Friday. The stock has a market capitalization of $29.67 billion, a PE ratio of 44.74 and a beta of 0.84. Fidelity National Information Services, Inc. has a 52 week low of $73.25 and a 52 week high of $92.78. The stock’s 50 day moving average is $88.52 and its 200 day moving average is $83.87.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Wednesday, August 2nd. The information technology services provider reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.05. Fidelity National Information Services had a net margin of 7.08% and a return on equity of 13.49%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. Analysts anticipate that Fidelity National Information Services, Inc. will post $4.28 EPS for the current fiscal year.

Fidelity National Information Services announced that its board has initiated a share repurchase program on Wednesday, August 2nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.29 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.30%. Fidelity National Information Services’s payout ratio is 58.00%.

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Several research analysts recently issued reports on FIS shares. BidaskClub downgraded Fidelity National Information Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Deutsche Bank AG restated a “hold” rating and set a $89.00 price objective (up from $80.00) on shares of Fidelity National Information Services in a research report on Wednesday, May 3rd. Barclays PLC restated a “buy” rating and set a $94.00 price objective on shares of Fidelity National Information Services in a research report on Monday, May 15th. Cowen and Company restated an “outperform” rating and set a $92.00 price objective (up from $90.00) on shares of Fidelity National Information Services in a research report on Monday, July 10th. Finally, Zacks Investment Research upgraded Fidelity National Information Services from a “sell” rating to a “hold” rating in a research report on Thursday, May 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $92.20.

In other Fidelity National Information Services news, Director Frank R. Martire sold 400,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $90.34, for a total value of $36,136,000.00. Following the completion of the sale, the director now owns 202,517 shares in the company, valued at approximately $18,295,385.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James B. Stallings, Jr. sold 2,181 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $90.32, for a total transaction of $196,987.92. Following the completion of the sale, the director now owns 12,317 shares of the company’s stock, valued at approximately $1,112,471.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 403,181 shares of company stock valued at $36,418,378. Insiders own 2.66% of the company’s stock.

About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

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

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