Assetmark Inc. Cuts Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Assetmark Inc. reduced its position in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,537 shares of the information technology services provider's stock after selling 8,533 shares during the quarter. Assetmark Inc.'s holdings in Fidelity National Information Services were worth $4,484,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Fidelity National Information Services in the second quarter worth $30,000. Concord Wealth Partners grew its holdings in Fidelity National Information Services by 50.2% in the third quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider's stock worth $37,000 after purchasing an additional 146 shares during the period. Family Firm Inc. acquired a new stake in Fidelity National Information Services in the second quarter worth $35,000. EdgeRock Capital LLC bought a new position in shares of Fidelity National Information Services in the second quarter valued at $35,000. Finally, LRI Investments LLC bought a new position in shares of Fidelity National Information Services in the first quarter valued at $46,000. 96.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 626 shares of the stock in a transaction on Tuesday, October 15th. The shares were acquired at an average price of $88.25 per share, for a total transaction of $55,244.50. Following the purchase, the director now owns 10,397 shares of the company's stock, valued at approximately $917,535.25. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Fidelity National Information Services Stock Up 1.4 %

Shares of NYSE:FIS traded up $1.26 during midday trading on Wednesday, reaching $88.88. The company's stock had a trading volume of 3,495,150 shares, compared to its average volume of 3,773,417. The firm has a 50 day moving average of $86.29 and a 200-day moving average of $79.76. The firm has a market capitalization of $47.85 billion, a P/E ratio of 35.41, a PEG ratio of 0.74 and a beta of 1.06. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63. Fidelity National Information Services, Inc. has a 12-month low of $53.39 and a 12-month high of $91.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.29 by $0.11. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted $0.94 EPS. Fidelity National Information Services's revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts anticipate that Fidelity National Information Services, Inc. will post 5.18 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services's dividend payout ratio (DPR) is 57.37%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FIS shares. Oppenheimer started coverage on shares of Fidelity National Information Services in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Fidelity National Information Services from $97.00 to $102.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Robert W. Baird raised their price objective on shares of Fidelity National Information Services from $92.00 to $94.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Jefferies Financial Group raised their price objective on shares of Fidelity National Information Services from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fidelity National Information Services from $89.00 to $99.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.68.

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.