Sound Shore Management Inc. CT Has $109.67 Million Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Sound Shore Management Inc. CT lowered its position in Fidelity National Information Services, Inc. (NYSE:FIS) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,455,273 shares of the information technology services provider’s stock after selling 47,376 shares during the period. Fidelity National Information Services makes up about 3.7% of Sound Shore Management Inc. CT’s portfolio, making the stock its 2nd largest position. Sound Shore Management Inc. CT owned approximately 0.26% of Fidelity National Information Services worth $109,669,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Fidelity National Information Services by 19.1% in the 1st quarter. Vanguard Group Inc. now owns 68,658,572 shares of the information technology services provider’s stock valued at $5,093,093,000 after purchasing an additional 11,023,109 shares during the last quarter. Lyrical Asset Management LP acquired a new stake in shares of Fidelity National Information Services during the fourth quarter worth $260,316,000. Boston Partners grew its holdings in shares of Fidelity National Information Services by 642.7% during the first quarter. Boston Partners now owns 4,470,605 shares of the information technology services provider’s stock valued at $331,047,000 after buying an additional 3,868,683 shares during the last quarter. FIL Ltd increased its position in shares of Fidelity National Information Services by 27.3% in the 4th quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock valued at $773,552,000 after acquiring an additional 2,758,049 shares during the period. Finally, Mizuho Markets Americas LLC raised its stake in Fidelity National Information Services by 115.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 3,748,200 shares of the information technology services provider’s stock worth $278,041,000 after acquiring an additional 2,011,848 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein purchased 719 shares of the stock in a transaction dated Monday, July 15th. The shares were purchased at an average price of $76.81 per share, with a total value of $55,226.39. Following the transaction, the director now owns 9,771 shares in the company, valued at approximately $750,510.51. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Fidelity National Information Services Stock Down 0.4 %

Shares of FIS opened at $84.06 on Friday. The stock has a 50 day moving average price of $79.19 and a 200 day moving average price of $75.50. The stock has a market capitalization of $46.76 billion, a price-to-earnings ratio of -8.22, a PEG ratio of 0.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.35. Fidelity National Information Services, Inc. has a one year low of $46.91 and a one year high of $85.63.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.13. Fidelity National Information Services had a net margin of 7.72% and a return on equity of 13.63%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the company earned $1.55 EPS. Fidelity National Information Services’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Fidelity National Information Services, Inc. will post 5.08 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently -14.08%.

Wall Street Analyst Weigh In

FIS has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Fidelity National Information Services from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Morgan Stanley lowered shares of Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 price objective on the stock. in a research note on Monday, July 22nd. Barclays increased their price target on Fidelity National Information Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. TD Cowen boosted their price objective on Fidelity National Information Services from $75.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, UBS Group raised their target price on Fidelity National Information Services from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

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.