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 13.34% to 55.31 million shares with purchase of 6.51 million shares. This fresh investment now brings its stake to 9.34% valued currently at $3.24 billion. In addition, Dodge & Cox raised its holdings by 8.89 million to 36.66 million shares. And BlackRock Fund Advisors has lifted its position by 0.30% or 91966.0 shares – to 30.79 million shares.
With over 6.21 million Fidelity National Information Services, Inc. (FIS) shares trading Tuesday and a closing price of $60.97 on the day, the dollar volume was approximately $378.52 million. The shares have shown a positive half year performance of 5.12% and its price on 01/02/24 gained nearly 1.50%. Currently, there are 591.00M common shares owned by the public and among those 590.90M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 30 analysts who have offered their price forecasts for FIS have a consensus price objective of $65.87. The analysts have set the share’s price value over the next 12 months at a high of $81.00 and a low of $52.00. The average price target is 7.44% above its recent price level and a downside to the estimated low will see the stock lose -17.25% over that period. But an upside of 24.73% will see the stock hit the forecast high price target while median target price for the stock is $67.00.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 67,180 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 16,585 shares.
The top 3 mutual fund holders in Fidelity National Information Services, Inc. are Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Dodge & Cox Stock Fund owns 24.5 million shares of the company’s stock, all valued at over $1.44 billion. The company bought an additional 6.43 million shares recently to bring their total holdings to about 4.14% of the shares outstanding. Vanguard Total Stock Market ETF bought 24120.0 shares to see its total holdings expand to 17.44 million shares valued at over $1.02 billion and representing 2.94% of the shares outstanding. Vanguard 500 Index Fund bought 74999.0 shares to bring its total holdings to over 13.45 million shares at a value of $788.93 million. Vanguard 500 Index Fund now owns shares totaling to 2.27% of the shares outstanding.
Shares of Fidelity National Information Services, Inc. (NYSE: FIS) opened at $59.81, down -$0.26 from a prior closing price of $60.07. The company’s stock has a 5-day price change of 1.72% and 12.41% over the past three months. FIS shares are trading 1.50% year to date (YTD), with the 12-month market performance down to -10.21% lower. It has a 12-month low price of $46.91 and touched a high of $79.32 over the same period. FIS has an average intraday trading volume of 5.47 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 2.25%, 10.19%, and 9.74% respectively.
Institutional ownership of Fidelity National Information Services, Inc. (NYSE: FIS) shares accounts for 93.61% of the company’s 591.00M shares outstanding. Mutual fund holders own 40.72%, while other institutional holders and individual stakeholders account for 53.57% and 21.21% respectively.
It has a market capitalization of $36.12B and a beta (3y monthly) value of 0.94. The earnings-per-share (ttm) stands at -$40.95. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.73% over the week and 2.07% over the month.
Analysts forecast that Fidelity National Information Services, Inc. (FIS) will achieve an EPS of $0.94 for the current quarter, $0.96 for the next quarter and $4.55 for 2024. The lowest estimate earnings-per-share for the quarter is $0.9 while analysts give the company a high EPS estimate of $0.99. Comparatively, EPS for the current quarter was $0.98 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.94%, and -25.89% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 30 brokerage firm advisors rate Fidelity National Information Services, Inc. (FIS) as a “Strong Buy” at a consensus score of 1.90. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 12 of the 30 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FIS, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on October 20, 2023, with the firm’s price target at $58.
