Morgan Dempsey Capital Management LLC cut its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 1,256 shares of the information technology services provider’s stock after selling 45 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Fidelity National Information Services were worth $107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in shares of Fidelity National Information Services during the first quarter valued at $366,000. Huntington National Bank increased its position in shares of Fidelity National Information Services by 1.0% in the first quarter. Huntington National Bank now owns 1,950 shares of the information technology services provider’s stock valued at $155,000 after buying an additional 20 shares during the period. Sky Investment Group LLC increased its position in shares of Fidelity National Information Services by 5.7% in the first quarter. Sky Investment Group LLC now owns 25,771 shares of the information technology services provider’s stock valued at $2,052,000 after buying an additional 1,400 shares during the period. Barometer Capital Management Inc. bought a new position in shares of Fidelity National Information Services during the first quarter valued at $637,000. Finally, Bank of The West increased its position in shares of Fidelity National Information Services by 4.8% in the first quarter. Bank of The West now owns 20,254 shares of the information technology services provider’s stock valued at $1,612,000 after buying an additional 936 shares during the period. 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 P/E ratio of 44.74 and a beta of 0.84. Fidelity National Information Services, Inc. has a 1-year low of $73.25 and a 1-year high of $92.78. The company has a 50 day moving average price of $88.52 and a 200-day moving average price of $83.87.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data 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 return on equity of 13.49% and a net margin of 7.08%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Fidelity National Information Services, Inc. will post $4.28 EPS for the current fiscal year.

Fidelity National Information Services declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 2nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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

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Several brokerages have weighed in on FIS. Stephens reiterated a “positive” rating and issued a $101.00 target price (up from $93.00) on shares of Fidelity National Information Services in a research note on Thursday, August 3rd. Cowen and Company reiterated a “buy” rating and issued a $97.00 target price on shares of Fidelity National Information Services in a research note on Thursday, August 3rd. BMO Capital Markets lifted their target price on Fidelity National Information Services from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Fidelity National Information Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC reiterated an “overweight” rating and issued a $102.00 target price (up from $94.00) on shares of Fidelity National Information Services in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $92.20.

In related news, 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 value of $196,987.92. Following the completion of the transaction, the director now directly owns 12,317 shares of the company’s stock, valued at approximately $1,112,471.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank R. Martire sold 400,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $90.34, for a total value of $36,136,000.00. Following the completion of the transaction, the director now directly owns 202,517 shares of the company’s stock, valued at $18,295,385.78. The disclosure for this sale can be found here. Insiders sold a total of 403,181 shares of company stock valued at $36,418,378 over the last three months. Corporate 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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