Barings LLC Acquires 8,851 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• Barings LLC increased its holdings in Fidelity National Information Services, Inc. by 52.2%, adding 8,851 shares to reach a total of 25,794 shares valued at approximately $1.93 million.
• Fidelity National Information Services recently declared a quarterly dividend of $0.40 per share, representing an annualized dividend yield of 2.0%.
• FIS has received upgrades from analysts, with a consensus rating of "Moderate Buy" and an average target price of $91.00.

Barings LLC lifted its holdings in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 52.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,794 shares of the information technology services provider's stock after purchasing an additional 8,851 shares during the period. Barings LLC's holdings in Fidelity National Information Services were worth $1,926,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FIS. Brighton Jones LLC bought a new stake in shares of Fidelity National Information Services in the fourth quarter valued at about $347,000. Wellington Management Group LLP grew its holdings in Fidelity National Information Services by 24.0% during the 4th quarter. Wellington Management Group LLP now owns 21,587 shares of the information technology services provider's stock worth $1,744,000 after acquiring an additional 4,180 shares during the last quarter. Headlands Technologies LLC bought a new stake in Fidelity National Information Services during the 4th quarter worth about $158,000. World Investment Advisors grew its holdings in Fidelity National Information Services by 2.9% during the 4th quarter. World Investment Advisors now owns 72,995 shares of the information technology services provider's stock worth $5,896,000 after acquiring an additional 2,024 shares during the last quarter. Finally, Thoroughbred Financial Services LLC bought a new stake in Fidelity National Information Services during the 4th quarter worth about $381,000. Institutional investors own 96.23% of the company's stock.

Wall Street Analyst Weigh In

FIS has been the subject of several recent research reports. Citigroup raised Fidelity National Information Services from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $79.00 to $86.00 in a report on Monday, April 21st. Truist Financial boosted their price objective on Fidelity National Information Services from $84.00 to $85.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Royal Bank Of Canada dropped their price objective on Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Robert W. Baird boosted their price objective on Fidelity National Information Services from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, UBS Group boosted their price objective on Fidelity National Information Services from $81.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.00.

Fidelity National Information Services Stock Down 1.3%

Shares of Fidelity National Information Services stock opened at $78.35 on Friday. Fidelity National Information Services, Inc. has a 1 year low of $66.51 and a 1 year high of $91.98. The business has a 50-day moving average of $80.46 and a two-hundred day moving average of $76.96. The company has a market capitalization of $41.17 billion, a P/E ratio of 51.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.63 and a quick ratio of 0.63.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Fidelity National Information Services had a return on equity of 18.15% and a net margin of 8.10%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Fidelity National Information Services, Inc. will post 5.74 EPS for the current year.

Fidelity National Information Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, September 10th. Fidelity National Information Services's payout ratio is 105.96%.

Fidelity National Information Services Profile

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.

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