On August 21, 2023, it was announced that Garda Capital Partners LP, an institutional investor, had acquired a new position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) during the first quarter. According to the company’s filing with the Securities & Exchange Commission, Garda Capital Partners LP acquired 6,950 shares of the information technology services provider’s stock, amounting to a value of approximately $378,000.
Fidelity National Information Services (FIS), as reported on August 2nd, recently disclosed its earnings results for the quarter. The information technology services provider reported earnings per share (EPS) of $1.55 for the quarter, surpassing the consensus estimate by $0.07. The firm also recorded revenue of $3.75 billion for the quarter, exceeding the consensus estimate of $3.71 billion.
It is worth noting that Fidelity National Information Services had a negative net margin of 161.74% but managed to maintain a positive return on equity of 12.54%. Furthermore, compared to the same quarter last year, the business’s quarterly revenue increased by 0.7% on a year-over-year basis. In the previous year’s corresponding period, FIS reported earnings per share of $1.73.
Equities analysts have projected a full-year EPS of 6.02 for Fidelity National Information Services in the current year.
This recent acquisition by Garda Capital Partners LP demonstrates their confidence in Fidelity National Information Services’ potential for growth and profitability in the information technology services industry. With its strong financial performance and positive returns on equity, FIS continues to solidify its position as a significant player in this sector.
As investors continue to analyze and evaluate companies within this industry, they will likely consider factors such as quarterly reports and earnings results when making investment decisions moving forward.
Disclaimer: This article is informational only and should not be considered as financial advice. Please consult with a professional advisor before making any investment decisions.
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Institutional Investors and Research Firms Show Interest in Fidelity National Information Services (FIS)
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”FIS” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]August 21, 2023 – Fidelity National Information Services (FIS), a leading provider of information technology services, has recently caught the attention of several institutional investors and hedge funds. Barrow Hanley Mewhinney & Strauss LLC, for example, has increased its stake in FIS by a staggering 28.9% in the fourth quarter, now owning approximately 8,368,163 shares valued at $567,780,000. Moneta Group Investment Advisors LLC also acquired a new stake in FIS with a value of approximately $449,526,000.
Norges Bank is another institution that has shown interest in FIS. In the fourth quarter alone, Norges Bank acquired a new position in the company with holdings valued at around $390,114,000. Similarly, Price T Rowe Associates Inc. MD increased its stake by 97.9%, resulting in ownership of approximately 5,542,033 shares worth $376,027,000.
Perhaps one of the most surprising moves comes from Barclays PLC which increased its stake by an incredible 793.5%. This move strengthened their holdings to approximately 5,364,128 shares valued at $363,956,000.
Overall it is clear that institutional investors and hedge funds have taken notice of Fiserv and recognize its potential for growth and profitability. The sheer number of shares purchased by these entities speaks volumes about their faith in Fiserv’s ability to perform well in the future.
On another note amidst all this financial commotion there are several research firms that offer differing opinions on Fidelity National Information Services (FIS). One such firm is 22nd Century Group who reiterates a “maintains” rating on shares of Fidelity National Information Services while StockNews.com takes up a “hold” rating on the stock.
Another reputable firm Robert W. Baird recently reduced their target price from $80.00 to $75.00. Similarly, Morgan Stanley reduced their target price from $79.00 to $73.00 but maintained an “overweight” rating for the company.
While Atlantic Securities upgraded Fidelity National Information Services from a “neutral” rating to an “overweight” rating. These different opinions signify a certain level of ambiguity concerning the stock’s future prospects.
In terms of insider trading activity, CFO Erik D. Hoag has recently sold 3,451 shares of FIS stock at an average price of $54.15 per share, resulting in a total value of $186,871.65. Following this transaction, Hoag now directly owns 19,887 shares worth approximately $1,076,881.05.
On the other hand, Director Ellen R. Alemany purchased 760 shares of FIS stock at an average price of $58.82 per share in a separate transaction on July 17th. Following this transaction, Alemany now holds 3,743 shares valued at $220,163.26.
It is worth noting that insiders collectively own only 0.56% of the company’s stock.
As for its financial performance on the market, Fidelity National Information Services’ stock traded down by $0.67 during midday trading on Friday and reached a closing price of $55.39 per share.
Throughout the day, approximately 3,487,316 shares were traded compared to its average volume of 3,717,143 shares.
The company maintains a 50-day simple moving average of $57.40 and a 200-day simple moving average of $58.12.
With these recent developments and conflicting opinions from research firms regarding its prospects for growth and profitability it remains uncertain how this information will impact Fidelity National Information Services in the long-term.
