Chairman and CEO Norcross Gary sold 39,403 shares of Fidelity National Information Services Inc. [FIS]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Fidelity National Information Services Inc. shares valued at $3,672,370 were sold by Norcross Gary on Sep 12. At $93.20 per share, Norcross Gary sold 39,403 shares. The insider’s holdings dropped to 846,643 shares worth approximately $68.16 million following the completion of this transaction.


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Also, Norcross Gary sold 80,000 shares, netting a total of over 7,271,320 in proceeds. Following the sale of shares at $90.89 each, the insider now holds 846,643 shares.

Before that, Norcross Gary had sold 80,000 shares from its account. In a trade valued at $7,177,888, the Chairman and CEO traded Fidelity National Information Services Inc. shares for $89.72 each. Upon closing the transaction, the insider’s holdings decreased to 80,000 shares, worth approximately $68.16 million.

As published in a research note from Keefe Bruyette on September 19, 2022, Fidelity National Information Services Inc. [FIS] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $98 from $120. This represents a 17.85% premium over Thursday’s closing price. Analysts at Wells Fargo downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early September. As of July 14, 2022, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for FIS. Earlier on June 13, 2022, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for FIS stock which previously was a “an In-line”.

Analyzing FIS’s Price Performance

On Thursday, Fidelity National Information Services Inc. [NYSE: FIS] rose 0.07% to $80.51. The stock’s lowest price that day was $78.77, but it reached a high of $80.90 in the same session. During the last five days, there has been a drop of approximately -6.05%. Over the course of the year, Fidelity National Information Services Inc. shares have dropped approximately -26.24%. Shares of the company reached a 52-week high of $122.06 on 02/01/22 and a 52-week low of $78.77 on 09/22/22. A 50-day SMA is recorded $94.84, while a 200-day SMA reached $100.39. Nevertheless, trading volume fell to 5.84 million shares from 4.87 million shares the previous day.

Support And Resistance Levels for Fidelity National Information Services Inc. (FIS)

According to the 24-hour chart, there is a support level at 79.22, which, if violated, would cause prices to drop to 77.93. In the upper region, resistance lies at 81.35. The next price resistance is at 82.19. RSI (Relative Strength Index) is 24.00 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.96, which suggests the price will decrease in the coming days. Percent R is at 88.50%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Fidelity National Information Services Inc. subject to short interest?

Stocks of Fidelity National Information Services Inc. saw a sharp steep in short interest on Aug 30, 2022 dropping by -1.49 million shares to 5.5 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 6.99 million shares. A decline of -27.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.5 of the overall float, the days-to-cover ratio (short ratio) decline to 1.5.

Which companies own the most shares of Fidelity National Information Services Inc. (FIS)?

According to The Vanguard Group, Inc. filings, the company currently owns 47,743,735 shares, which is about 7.85% of the total FIS shares outstanding. The investor’s shares have appreciated by 869,407 from its previous 13-F filing of 46874328.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $3,143,382,009. BlackRock Fund Advisors reduced a -2.96% interest valued at $2.62 billion while SSgA Funds Management, Inc. sold a -585,145 stake. A total of 303,836 shares of Fidelity National Information Services Inc. were sold by Wellington Management Co. LLP during the quarter, and -7,807,512 were sold by Massachusetts Financial Services. In its current portfolio, Geode Capital Management LLC holds 10,494,337 shares valued at $958.87 million.

In terms of Fidelity National Information Services Inc. share price expectations, FactSet research, analysts set an average price target of $120.26 in the next 12 months, up nearly 49.16% from the previous closing price of $80.45. Analysts anticipate Fidelity National Information Services Inc. stock to reach $160.00 by 2022, with the lowest price target being $88.00. In spite of this, 36 analysts ranked Fidelity National Information Services Inc. stock as an Overweight at the end of 2022. On May 18, 2022, Goldman assigned a price target of “a Buy” to the stock and initiated coverage with a $128.

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