Cornerstone Wealth Group LLC Trims Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Cornerstone Wealth Group LLC decreased its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 0.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 65,135 shares of the information technology services provider’s stock after selling 500 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Fidelity National Information Services were worth $5,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in FIS. University of Texas Texas AM Investment Management Co. bought a new position in shares of Fidelity National Information Services during the second quarter valued at about $30,000. EdgeRock Capital LLC bought a new position in shares of Fidelity National Information Services during the second quarter valued at about $35,000. Family Firm Inc. bought a new position in shares of Fidelity National Information Services during the second quarter valued at about $35,000. Palisade Asset Management LLC bought a new position in shares of Fidelity National Information Services during the first quarter valued at about $37,000. Finally, Concord Wealth Partners grew its stake in shares of Fidelity National Information Services by 50.2% during the third quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider’s stock valued at $37,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Stock Performance

NYSE FIS opened at $90.77 on Thursday. The stock’s fifty day moving average is $85.04 and its two-hundred day moving average is $78.60. The firm has a market capitalization of $50.49 billion, a P/E ratio of -8.87, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.35 and a current ratio of 1.35. Fidelity National Information Services, Inc. has a fifty-two week low of $47.97 and a fifty-two week high of $91.44.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.23 by $0.13. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Fidelity National Information Services, Inc. will post 5.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FIS. TD Cowen raised their price objective on Fidelity National Information Services from $75.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley lowered shares of Fidelity National Information Services from an “overweight” rating to an “equal weight” rating and set a $79.00 target price for the company. in a report on Monday, July 22nd. Keefe, Bruyette & Woods increased their target price on shares of Fidelity National Information Services from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Stephens increased their target price on shares of Fidelity National Information Services from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Susquehanna increased their target price on shares of Fidelity National Information Services from $86.00 to $88.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.30.

Insider Activity

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 626 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average price of $88.25 per share, with a total value of $55,244.50. Following the purchase, the director now directly owns 10,397 shares in the company, valued at approximately $917,535.25. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

About Fidelity National Information Services

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.