Dodge & Cox Has $2.77 Billion Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Dodge & Cox lowered its holdings in Fidelity National Information Services, Inc. (NYSE:FIS) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,327,527 shares of the information technology services provider’s stock after selling 6,745,769 shares during the period. Fidelity National Information Services makes up 1.6% of Dodge & Cox’s portfolio, making the stock its 20th biggest position. Dodge & Cox owned about 6.38% of Fidelity National Information Services worth $2,772,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Fidelity National Information Services during the 4th quarter valued at $635,202,000. Raymond James Financial Inc. bought a new stake in shares of Fidelity National Information Services in the fourth quarter valued at about $451,458,000. Arrowstreet Capital Limited Partnership increased its stake in Fidelity National Information Services by 100.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider’s stock valued at $261,037,000 after acquiring an additional 1,616,146 shares during the period. KBC Group NV raised its holdings in Fidelity National Information Services by 1,390.5% in the 4th quarter. KBC Group NV now owns 1,180,258 shares of the information technology services provider’s stock valued at $95,330,000 after acquiring an additional 1,101,072 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Fidelity National Information Services by 9.1% during the 4th quarter. Invesco Ltd. now owns 7,573,133 shares of the information technology services provider’s stock worth $611,682,000 after purchasing an additional 632,328 shares in the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stephens decreased their price target on shares of Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. William Blair reissued an “outperform” rating on shares of Fidelity National Information Services in a report on Tuesday, February 18th. UBS Group reduced their target price on shares of Fidelity National Information Services from $94.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada dropped their price objective on shares of Fidelity National Information Services from $104.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Finally, Susquehanna cut Fidelity National Information Services from a “positive” rating to a “neutral” rating and lowered their target price for the company from $103.00 to $81.00 in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $88.89.

Fidelity National Information Services Stock Performance

Shares of Fidelity National Information Services stock opened at $71.32 on Tuesday. The company has a 50 day moving average of $72.07 and a 200-day moving average of $80.00. The company has a market cap of $37.78 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Fidelity National Information Services, Inc. has a 1-year low of $66.51 and a 1-year high of $91.98.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 17.30% and a net margin of 14.54%. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities research analysts forecast that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. This is an increase from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date was Tuesday, March 11th. Fidelity National Information Services’s dividend payout ratio is presently 61.30%.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 701 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was acquired at an average price of $79.97 per share, with a total value of $56,058.97. Following the completion of the purchase, the director now directly owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. This trade represents a 6.74 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Fidelity National Information Services 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.