Poplar Forest Capital LLC Cuts Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Poplar Forest Capital LLC cut its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 50.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,847 shares of the information technology services provider’s stock after selling 121,667 shares during the period. Fidelity National Information Services makes up approximately 1.8% of Poplar Forest Capital LLC’s holdings, making the stock its 26th largest holding. Poplar Forest Capital LLC’s holdings in Fidelity National Information Services were worth $9,761,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Fidelity National Information Services by 94.1% in the third quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Kennebec Savings Bank purchased a new position in Fidelity National Information Services in the third quarter valued at about $28,000. R Squared Ltd purchased a new position in Fidelity National Information Services in the fourth quarter valued at about $30,000. Morse Asset Management Inc purchased a new position in Fidelity National Information Services in the third quarter valued at about $37,000. Finally, Grove Bank & Trust increased its holdings in Fidelity National Information Services by 341.0% in the fourth quarter. Grove Bank & Trust now owns 516 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 399 shares in the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Information Services Stock Up 2.8 %

Shares of FIS opened at $71.19 on Friday. The firm has a market cap of $37.71 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.04. The company’s fifty day moving average is $77.49 and its two-hundred day moving average is $82.30. Fidelity National Information Services, Inc. has a fifty-two week low of $66.71 and a fifty-two week high of $91.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a net margin of 14.54% and a return on equity of 17.30%. During the same period last year, the firm posted $0.94 EPS. Analysts forecast that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current year.

Fidelity National Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.40 per share. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, March 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Fidelity National Information Services’s payout ratio is presently 61.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FIS shares. UBS Group dropped their target price on shares of Fidelity National Information Services from $94.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Keefe, Bruyette & Woods dropped their price objective on shares of Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. William Blair reissued an “outperform” rating on shares of Fidelity National Information Services in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on shares of Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Finally, Morgan Stanley dropped their price objective on shares of Fidelity National Information Services from $92.00 to $86.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.65.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 701 shares of Fidelity National Information Services stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average price of $79.97 per share, for a total transaction of $56,058.97. Following the acquisition, the director now owns 11,098 shares of the company’s stock, valued at $887,507.06. The trade was a 6.74 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Fidelity National Information Services Profile

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.