Fidelity National Information Services, Inc. (NYSE:FIS) is Sound Shore Management Inc. CT's 3rd Largest Position

Sound Shore Management Inc. CT raised its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 37.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,300,242 shares of the information technology services provider's stock after buying an additional 351,684 shares during the quarter. Fidelity National Information Services comprises 3.4% of Sound Shore Management Inc. CT's portfolio, making the stock its 3rd largest holding. Sound Shore Management Inc. CT owned approximately 0.25% of Fidelity National Information Services worth $97,102,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FIS. Norges Bank purchased a new stake in Fidelity National Information Services in the fourth quarter worth approximately $635,202,000. Arrowstreet Capital Limited Partnership boosted its stake in Fidelity National Information Services by 100.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider's stock worth $261,037,000 after buying an additional 1,616,146 shares in the last quarter. Capital Research Global Investors boosted its stake in Fidelity National Information Services by 3.8% in the fourth quarter. Capital Research Global Investors now owns 29,433,286 shares of the information technology services provider's stock worth $2,377,325,000 after buying an additional 1,082,929 shares in the last quarter. Northern Trust Corp boosted its stake in Fidelity National Information Services by 16.5% in the fourth quarter. Northern Trust Corp now owns 6,925,824 shares of the information technology services provider's stock worth $559,399,000 after buying an additional 982,955 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Fidelity National Information Services by 6,171.5% in the first quarter. GAMMA Investing LLC now owns 829,844 shares of the information technology services provider's stock worth $61,973,000 after buying an additional 816,612 shares in the last quarter. Hedge funds and other institutional investors own 96.23% of the company's stock.

Fidelity National Information Services Price Performance

FIS stock traded up $1.51 during mid-day trading on Friday, reaching $81.92. 2,694,227 shares of the company's stock were exchanged, compared to its average volume of 2,280,698. The company has a market cap of $43.04 billion, a price-to-earnings ratio of 54.25 and a beta of 1.06. The stock's 50 day moving average is $80.36 and its 200 day moving average is $76.88. 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, Inc. has a 12-month low of $66.51 and a 12-month high of $91.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Fidelity National Information Services had a return on equity of 18.15% and a net margin of 8.10%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. On average, research analysts expect that Fidelity National Information Services, Inc. will post 5.74 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.95%. Fidelity National Information Services's dividend payout ratio (DPR) is 105.96%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FIS. Truist Financial increased their price objective on Fidelity National Information Services from $84.00 to $85.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Robert W. Baird increased their price objective on Fidelity National Information Services from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. TD Cowen raised Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a research note on Monday, April 21st. Oppenheimer raised Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 price objective for the company in a research note on Wednesday, April 23rd. Finally, Stephens increased their price objective on Fidelity National Information Services from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Fidelity National Information Services Company 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.