Payden & Rygel Cuts Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Payden & Rygel cut its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 12.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 219,700 shares of the information technology services provider’s stock after selling 32,400 shares during the period. Fidelity National Information Services accounts for about 1.4% of Payden & Rygel’s portfolio, making the stock its 26th biggest position. Payden & Rygel’s holdings in Fidelity National Information Services were worth $18,400,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank bought a new position in shares of Fidelity National Information Services during the third quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Fidelity National Information Services in the 2nd quarter worth approximately $30,000. EdgeRock Capital LLC purchased a new position in shares of Fidelity National Information Services in the 2nd quarter worth about $35,000. Family Firm Inc. bought a new position in Fidelity National Information Services during the second quarter valued at about $35,000. Finally, Concord Wealth Partners increased its holdings in Fidelity National Information Services by 50.2% during the third quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock worth $37,000 after buying an additional 146 shares during the last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Information Services Trading Down 0.5 %

NYSE:FIS traded down $0.39 during midday trading on Wednesday, reaching $85.69. 536,347 shares of the stock traded hands, compared to its average volume of 3,743,369. The stock has a market capitalization of $46.13 billion, a P/E ratio of 34.29, a PEG ratio of 0.74 and a beta of 1.06. Fidelity National Information Services, Inc. has a 12 month low of $53.79 and a 12 month high of $91.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.18. The company has a fifty day moving average of $86.85 and a 200 day moving average of $80.43.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. Fidelity National Information Services had a return on equity of 15.35% and a net margin of 14.37%. Fidelity National Information Services’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. On average, research analysts predict that Fidelity National Information Services, Inc. will post 5.18 EPS for the current year.

Fidelity National Information Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services’s payout ratio is currently 57.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Fidelity National Information Services from $91.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Barclays raised their price objective on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. BNP Paribas lowered shares of Fidelity National Information Services from a “neutral” rating to an “underperform” rating in a research report on Wednesday. UBS Group increased their price objective on Fidelity National Information Services from $80.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer started coverage on Fidelity National Information Services in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Fidelity National Information Services has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Insiders Place Their Bets

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 626 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average cost of $88.25 per share, with a total value of $55,244.50. Following the transaction, the director now directly owns 10,397 shares in the company, valued at approximately $917,535.25. The trade was a 6.41 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lenore D. Williams sold 11,305 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $87.97, for a total transaction of $994,500.85. Following the transaction, the executive vice president now directly owns 32,199 shares of the company’s stock, valued at $2,832,546.03. This represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Fidelity National Information Services Company 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.