Tocqueville Asset Management L.P. Cuts Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Tocqueville Asset Management L.P. decreased its position in Fidelity National Information Services, Inc. (NYSE:FIS) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,254 shares of the information technology services provider’s stock after selling 610 shares during the period. Tocqueville Asset Management L.P.’s holdings in Fidelity National Information Services were worth $1,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIS. Norges Bank purchased a new position in Fidelity National Information Services in the fourth quarter valued at $478,594,000. Lyrical Asset Management LP purchased a new stake in shares of Fidelity National Information Services during the fourth quarter worth about $260,316,000. FIL Ltd increased its stake in shares of Fidelity National Information Services by 27.3% during the fourth quarter. FIL Ltd now owns 12,877,515 shares of the information technology services provider’s stock worth $773,552,000 after purchasing an additional 2,758,049 shares in the last quarter. Morningstar Investment Services LLC increased its stake in shares of Fidelity National Information Services by 95.3% during the fourth quarter. Morningstar Investment Services LLC now owns 3,641,757 shares of the information technology services provider’s stock worth $221,418,000 after purchasing an additional 1,776,752 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Fidelity National Information Services by 197.5% during the fourth quarter. Bank of Nova Scotia now owns 2,418,198 shares of the information technology services provider’s stock worth $145,255,000 after purchasing an additional 1,605,425 shares in the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 719 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were purchased at an average cost of $76.81 per share, for a total transaction of $55,226.39. Following the acquisition, the director now owns 9,771 shares in the company, valued at approximately $750,510.51. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FIS shares. BNP Paribas cut shares of Fidelity National Information Services from an “outperform” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Thursday, April 11th. Evercore ISI boosted their target price on shares of Fidelity National Information Services from $75.00 to $80.00 and gave the stock an “in-line” rating in a research note on Tuesday, May 7th. Wedbush reissued an “outperform” rating and set a $75.00 target price on shares of Fidelity National Information Services in a research note on Wednesday, May 8th. Susquehanna reissued a “positive” rating and set a $86.00 target price on shares of Fidelity National Information Services in a research note on Wednesday, July 10th. Finally, Stephens reissued an “overweight” rating and set a $90.00 target price on shares of Fidelity National Information Services in a research note on Tuesday, May 7th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.32.

Fidelity National Information Services Price Performance

NYSE:FIS traded down $0.79 on Friday, hitting $75.25. The stock had a trading volume of 2,987,492 shares, compared to its average volume of 3,288,782. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.52 and a current ratio of 1.52. The company has a fifty day moving average price of $76.14 and a two-hundred day moving average price of $70.36. Fidelity National Information Services, Inc. has a 1-year low of $46.91 and a 1-year high of $78.73.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.96 by $0.14. Fidelity National Information Services had a negative net margin of 54.14% and a positive return on equity of 13.91%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the business posted $1.29 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Fidelity National Information Services, Inc. will post 4.94 earnings per share for the current year.

Fidelity National Information Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a $0.36 dividend. The ex-dividend date was Monday, June 10th. This represents a $1.44 annualized dividend and a dividend yield of 1.91%. Fidelity National Information Services’s dividend payout ratio is currently -14.08%.

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.