The Vanguard Group, Inc. recently announced the acquisition of new stake in Fidelity National Information Services Inc. (NYSE:FIS). The institutional investor has increased its shareholding in the Technology company by 0.81% to 48.13 million shares with purchase of 0.39 million shares. This fresh investment now brings its stake to 7.92% valued currently at $3.99 billion. In addition, Wellington Management Co. LLP raised its holdings by 2.84 million to 27.79 million shares. And Geode Capital Management LLC has lifted its position by 1.42% or 0.15 million shares – to 10.64 million shares.
With over 7.54 million Fidelity National Information Services Inc. (FIS) shares trading Monday and a closing price of $61.56 on the day, the dollar volume was approximately $464.0 million. The shares have shown a negative half year performance of -39.47% and its price on 11/21/22 gained nearly 0.24%. Currently, there are 605.00M common shares owned by the public and among those 587.97M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 37 analysts who have offered their price forecasts for FIS have a consensus price objective of $83.16. The analysts have set the share’s price value over the next 12 months at a high of $110.00 and a low of $63.00. The average price target is 30.0% above its recent price level and an upside to the estimated low will see the stock gain 2.29% over that period. But an upside of 44.04% will see the stock hit the forecast high price target while median target price for the stock is $83.00.
Insiders at the company have transacted a total of 112 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 886,115 shares. Insider sales of the common stock occurred on 60 occasions, with total insider shares sold totaling 773,907 shares.
The top 3 mutual fund holders in Fidelity National Information Services Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market Index owns 18.24 million shares of the company’s stock, all valued at over $1.51 billion. The company bought an additional 91605.0 shares recently to bring their total holdings to about 3.00% of the shares outstanding. Vanguard 500 Index Fund bought 0.13 million shares to see its total holdings expand to 13.91 million shares valued at over $1.15 billion and representing 2.29% of the shares outstanding. Washington Mutual Investors Fund sold -3.4 million shares to bring its total holdings to over 7.53 million shares at a value of $625.16 million. Washington Mutual Investors Fund now owns shares totaling to 1.24% of the shares outstanding.
Shares of Fidelity National Information Services Inc. (NYSE: FIS) opened at $61.23, down -$0.18 from a prior closing price of $61.41. However, the script later moved the day high at 61.81, up 0.24%. The company’s stock has a 5-day price change of -4.59% and -35.58% over the past three months. FIS shares are trading -43.60% year to date (YTD), with the 12-month market performance down to -44.01% lower. It has a 12-month low price of $56.53 and touched a high of $122.06 over the same period. FIS has an average intraday trading volume of 6.00 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.02%, -18.58%, and -33.45% respectively.
Institutional ownership of Fidelity National Information Services Inc. (NYSE: FIS) shares accounts for 93.50% of the company’s 605.00M shares outstanding. Mutual fund holders own 38.59%, while other institutional holders and individual stakeholders account for 51.93% and 20.64% respectively.
It has a market capitalization of $36.32B and a beta (3y monthly) value of 0.84. The stock’s trailing 12-month PE ratio is 40.18, while the earnings-per-share (ttm) stands at $1.53. The company has a PEG of 9.41 and a Quick Ratio of 0.80 with the debt-to-equity ratio at 0.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.73% over the week and 4.02% over the month.
Analysts forecast that Fidelity National Information Services Inc. (FIS) will achieve an EPS of $1.75 for the current quarter, $2.07 for the next quarter and $7.56 for 2023. The lowest estimate earnings-per-share for the quarter is $1.69 while analysts give the company a high EPS estimate of $1.81. Comparatively, EPS for the current quarter was $1.73 a year ago. Earnings per share for the fiscal year are expected to increase by 166.50%, and 2.83% over the next financial year. EPS should grow at an annualized rate of 4.27% over the next five years, compared to -15.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 37 brokerage firm advisors rate Fidelity National Information Services Inc. (FIS) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 21 Wall Street analysts polled rate the stock as a buy, while 11 of the 37 advise that investors “hold,” and 1 rated it as a “Sell.”
Atlantic Equities was of a view on October 12, 2022 that the stock is Neutral, while Keefe Bruyette gave the stock Mkt Perform rating on September 19, 2022, issuing a price target of $120- $98. Wells Fargo on their part issued Underweight rating on September 08, 2022.