Somerville Kurt F Buys New Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Somerville Kurt F bought a new position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,500 shares of the information technology services provider’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. National Pension Service raised its position in 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 worth $21,108,000 after buying an additional 23,897 shares in the last quarter. Private Trust Co. NA raised its position in 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 worth $395,000 after buying an additional 778 shares in the last quarter. Barometer Capital Management Inc. bought a new position in Fidelity National Information Services during the first quarter worth $637,000. Achmea Investment Management B.V. bought a new position in Fidelity National Information Services during the first quarter worth $225,000. Finally, Neuburgh Advisers LLC raised its position in Fidelity National Information Services by 4.6% in the first quarter. Neuburgh Advisers LLC now owns 51,680 shares of the information technology services provider’s stock worth $4,115,000 after buying an additional 2,278 shares in the last quarter. Institutional investors own 86.70% of the company’s stock.

Shares of Fidelity National Information Services, Inc. (FIS) opened at 90.37 on Monday. Fidelity National Information Services, Inc. has a 1-year low of $73.25 and a 1-year high of $91.90. The company has a market cap of $29.82 billion, a price-to-earnings ratio of 45.30 and a beta of 0.84. The company’s 50-day moving average price is $87.57 and its 200 day moving average price is $83.41.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $1.02 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business posted $0.90 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that Fidelity National Information Services, Inc. will post $4.28 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its Board of Directors has approved a share buyback plan on Wednesday, August 2nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.28%. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 58.00%.

FIS has been the subject of a number of research analyst reports. BidaskClub downgraded Fidelity National Information Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research downgraded Fidelity National Information Services from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Deutsche Bank AG reaffirmed a “hold” rating and set a $89.00 price target (up from $80.00) on shares of Fidelity National Information Services in a research report on Wednesday, May 3rd. Barclays PLC reaffirmed a “buy” rating and set a $94.00 price target on shares of Fidelity National Information Services in a research report on Monday, May 15th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $92.00 price target (up from $90.00) on shares of Fidelity National Information Services in a research report on Monday, July 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $92.20.

In other Fidelity National Information Services news, Director James B. Stallings, Jr. sold 1,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $85.39, for a total transaction of $85,390.00. Following the sale, the director now directly owns 14,498 shares in the company, valued at approximately $1,237,984.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James W. Woodall sold 70,667 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $83.02, for a total transaction of $5,866,774.34. Following the sale, the executive vice president now owns 133,509 shares in the company, valued at $11,083,917.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 479,789 shares of company stock worth $39,879,240. 2.66% of the stock is owned by company insiders.

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.