Fidelity National Information Services, Inc. (NYSE:FIS) Sees Significant Increase in Short Interest
Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 7,550,000 shares, an increase of 17.1% from the September 30th total of 6,450,000 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 4,440,000 shares, the days-to-cover ratio is presently 1.7 days.
Fidelity National Information Services Price Performance
Shares of FIS traded up $1.82 during midday trading on Friday, hitting $84.90. 6,560,054 shares of the company traded hands, compared to its average volume of 4,557,184. The firm has a 50 day moving average of $83.51 and a 200-day moving average of $93.36. Fidelity National Information Services has a 52 week low of $72.37 and a 52 week high of $122.06. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 61.52, a PEG ratio of 0.85 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.69.
Fidelity National Information Services (NYSE:FIS – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.70 by $0.03. Fidelity National Information Services had a net margin of 5.88% and a return on equity of 8.95%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Fidelity National Information Services will post 7 EPS for the current fiscal year.
Fidelity National Information Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, December 8th. Fidelity National Information Services’s dividend payout ratio (DPR) is presently 136.23%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on FIS. KeyCorp decreased their price objective on shares of Fidelity National Information Services from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, September 23rd. Atlantic Securities lowered shares of Fidelity National Information Services from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $90.00 in a report on Wednesday, October 12th. Mizuho decreased their price objective on shares of Fidelity National Information Services from $120.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. Susquehanna decreased their price objective on shares of Fidelity National Information Services from $176.00 to $160.00 and set a “positive” rating for the company in a report on Tuesday, August 9th. Finally, Barclays decreased their target price on shares of Fidelity National Information Services from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, September 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fidelity National Information Services has an average rating of “Moderate Buy” and an average target price of $117.48.
Insider Transactions at Fidelity National Information Services
In other news, CEO Gary Norcross sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $90.89, for a total value of $7,271,200.00. Following the sale, the chief executive officer now directly owns 846,643 shares of the company’s stock, valued at approximately $76,951,382.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Keith W. Hughes sold 5,337 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $100.28, for a total value of $535,194.36. Following the sale, the director now directly owns 24,194 shares of the company’s stock, valued at approximately $2,426,174.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary Norcross sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $90.89, for a total transaction of $7,271,200.00. Following the completion of the transaction, the chief executive officer now owns 846,643 shares of the company’s stock, valued at $76,951,382.27. The disclosure for this sale can be found here. Insiders have sold a total of 207,240 shares of company stock valued at $18,934,354 in the last ninety days. 0.68% of the stock is currently owned by corporate insiders.
Institutional Trading of Fidelity National Information Services
Hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its position in shares of Fidelity National Information Services by 83.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 130 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of Fidelity National Information Services by 298.7% during the 1st quarter. SRS Capital Advisors Inc. now owns 299 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 224 shares in the last quarter. FinTrust Capital Advisors LLC raised its position in shares of Fidelity National Information Services by 248.3% during the 1st quarter. FinTrust Capital Advisors LLC now owns 310 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 221 shares in the last quarter. MV Capital Management Inc. raised its position in shares of Fidelity National Information Services by 782.1% during the 2nd quarter. MV Capital Management Inc. now owns 344 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 305 shares in the last quarter. Finally, Tcwp LLC purchased a new stake in shares of Fidelity National Information Services during the 1st quarter valued at about $33,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
About Fidelity National Information Services
Fidelity National Information Services, Inc provides technology solutions for merchants, banks, and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions, and Capital Market Solutions segments. The Merchant Solutions segment offers enterprise acquiring, software-led small- to medium-sized businesses acquiring, and global e-commerce solutions.
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