Fidelity National Information Services, Inc. (NYSE:FIS) sees significant increase in short-term interest

Fidelity National Information Services, Inc. (NYSE:FIS – Get Rating) benefited from a surge in short-term interest in October. As of October 15, there was short interest totaling 7,550,000 shares, an increase of 17.1% from the total of 6,450,000 shares as of September 30. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 4,440,000 shares, the day-to-cover ratio is currently 1.7 days.

Fidelity National News Services Price Performance

FIS shares traded at $1.82 in Friday’s midday session, hitting $84.90. 6,560,054 shares of the company were traded, against an average volume of 4,557,184. The company has a 50-day moving average of $83.51 and a 200-day moving average of $93.36. Fidelity National Information Services has a 52-week minimum of $72.37 and a 52-week maximum of $122.06. The stock has a market capitalization of $51.62 billion, a price/earnings ratio of 61.52, a PEG ratio of 0.85 and a beta of 0.84. The company has a debt ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.69.

Fidelity National Information Services (NYSE:FIS – Get Rating) last released its quarterly earnings data on Thursday, August 4. The information technology service provider reported EPS of $1.73 for the quarter, beating the consensus estimate of $1.70 by $0.03. Fidelity National Information Services posted a net margin of 5.88% and a return on equity of 8.95%. The company posted revenue of $3.72 billion in the quarter, versus a consensus estimate of $3.67 billion. In the same quarter of the previous year, the company achieved EPS of $1.61. The company’s revenue increased 7.0% year over year. On average, analysts expect Fidelity National Information Services to post 7 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 23. Shareholders of record on Friday, December 9 will receive a dividend of $0.47 per share. This represents an annualized dividend of $1.88 and a dividend yield of 2.21%. The ex-date of this dividend is Thursday, December 8. Fidelity National Information Services’ dividend payout ratio (DPR) is currently 136.23%.

Analyst upgrades and downgrades

A number of brokerages have weighed in on FIS recently. KeyCorp lowered its price target on Fidelity National Information Services stock from $135.00 to $115.00 and set an “overweight” rating for the company in a Friday, September 23 report. Atlantic Securities downgraded shares of Fidelity National Information Services from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $125.00 to $90.00 in a Wednesday report October 12. Mizuho lowered its price target on Fidelity National Information Services stock from $120.00 to $105.00 and set a “buy” rating for the company in a Wednesday, Oct. 19 report. Susquehanna cut its price target on Fidelity National Information Services stock from $176.00 to $160.00 and set a “positive” rating for the company in a Tuesday, Aug. 9 report. Finally, Barclays cut its price target on Fidelity National Information Services shares from $130.00 to $110.00 and set an “overweight” rating for the company in a Monday, September 26 research note. One analyst gave the stock a sell rating, seven gave the stock a hold rating, twenty-one gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat.com, Fidelity National Information Services has an average rating of “Moderate Buy” and an average target price of $117.48.

Insider Trading at Fidelity National Information Services

In other news, CEO Gary Norcross sold 80,000 shares of the company in a deal that took place on Friday, September 9. The stock was sold at an average price of $90.89, for a total value of $7,271,200.00. As a result of the sale, the CEO now directly owns 846,643 shares of the company, valued at approximately $76,951,382.27. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Separately, director Keith W. Hughes sold 5,337 shares of the company in a trade that took place on Thursday, August 18. The stock was sold at an average price of $100.28, for a total value of $535,194.36. Following the sale, the director now directly owns 24,194 shares of the company, valued at approximately $2,426,174.32. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, CEO Gary Norcross sold 80,000 shares of the company in a trade that took place on Friday, September 9. The stock was sold at an average price of $90.89, for a total transaction of $7,271,200.00. Following completion of the transaction, the CEO now owns 846,643 shares of the company, valued at $76,951,382.27. The disclosure of this sale can be found here. Insiders sold a total of 207,240 shares of the company valued at $18,934,354 in the past ninety days. 0.68% of the shares are currently held by company insiders.

Fidelity National Information Services Institutional Trading

Hedge funds have recently changed their positions in the business. Brown Brothers Harriman & Co. raised its position in Fidelity National Information Services shares by 83.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 286 shares of the information technology service provider valued at $29,000 after buying an additional 130 shares last quarter. SRS Capital Advisors Inc. increased its position in Fidelity National Information Services shares by 298.7% during the first quarter. SRS Capital Advisors Inc. now owns 299 shares of the information technology services provider valued at $30,000 after buying an additional 224 shares last quarter. FinTrust Capital Advisors LLC increased its position in Fidelity National Information Services shares by 248.3% during the first quarter. FinTrust Capital Advisors LLC now owns 310 shares of the information technology service provider valued at $31,000 after buying 221 additional shares last quarter. MV Capital Management Inc. increased its position in Fidelity National Information Services shares by 782.1% during the second quarter. MV Capital Management Inc. now owns 344 shares of the information technology service provider valued at $32,000 after buying 305 additional shares last quarter. Finally, Tcwp LLC purchased a new equity stake in Fidelity National Information Services during Q1 valued at approximately $33,000. 90.39% of the shares are currently held by hedge funds and other institutional investors.

About Fidelity National Information Services

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Fidelity National Information Services, Inc. provides technology solutions to merchants, banks and capital markets firms worldwide. It operates through Merchant Solutions, Banking Solutions and Capital Market Solutions segments. The Merchant Solutions segment offers business acquisition, software-driven small and medium business acquisition and global e-commerce solutions.

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