Federated Hermes Inc. Boosts Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• Federated Hermes Inc. increased its stake in Fidelity National Information Services by 24.2%, owning 22,934 shares worth $1.71 million at the end of the first quarter.
• Fidelity National Information Services reported an EPS of $1.36 for the quarter, meeting analysts' expectations, with a revenue of $2.62 billion, which surpassed predictions.
• The company has announced a quarterly dividend of $0.40 per share, representing an annualized yield of 2.3%, with a significant dividend payout ratio of 888.89%.

Federated Hermes Inc. grew its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 24.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,934 shares of the information technology services provider's stock after purchasing an additional 4,471 shares during the period. Federated Hermes Inc.'s holdings in Fidelity National Information Services were worth $1,713,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. acquired a new stake in shares of Fidelity National Information Services in the 1st quarter valued at approximately $276,000. Brown Advisory Inc. grew its position in Fidelity National Information Services by 16.7% during the 1st quarter. Brown Advisory Inc. now owns 329,325 shares of the information technology services provider's stock worth $24,594,000 after acquiring an additional 47,086 shares during the last quarter. Compass Wealth Management LLC increased its holdings in Fidelity National Information Services by 13.5% in the 1st quarter. Compass Wealth Management LLC now owns 77,794 shares of the information technology services provider's stock worth $5,810,000 after purchasing an additional 9,251 shares in the last quarter. Brighton Jones LLC bought a new position in Fidelity National Information Services in the fourth quarter valued at about $347,000. Finally, Meritage Portfolio Management boosted its stake in shares of Fidelity National Information Services by 43.9% during the first quarter. Meritage Portfolio Management now owns 82,571 shares of the information technology services provider's stock valued at $6,166,000 after purchasing an additional 25,203 shares in the last quarter. 96.23% of the stock is owned by institutional investors.

Fidelity National Information Services Stock Performance

FIS stock traded down $2.26 during midday trading on Wednesday, hitting $69.96. The company's stock had a trading volume of 6,489,941 shares, compared to its average volume of 2,744,701. The stock has a market cap of $36.76 billion, a price-to-earnings ratio of 388.68 and a beta of 1.04. The company has a quick ratio of 0.63, a current ratio of 0.59 and a debt-to-equity ratio of 0.63. The stock's 50-day moving average price is $80.31 and its 200 day moving average price is $76.90. Fidelity National Information Services, Inc. has a 1 year low of $66.51 and a 1 year high of $91.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 EPS for the quarter, hitting analysts' consensus estimates of $1.36. The company had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $2.57 billion. Fidelity National Information Services had a return on equity of 18.73% and a net margin of 1.09%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. On average, equities analysts forecast that Fidelity National Information Services, Inc. will post 5.74 EPS for the current year.

Fidelity National Information Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 10th. Fidelity National Information Services's dividend payout ratio is 888.89%.

Analyst Ratings Changes

Several equities research analysts recently commented on FIS shares. Robert W. Baird lifted their target price on shares of Fidelity National Information Services from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Truist Financial lifted their target price 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 lowered their price objective on Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Citigroup raised shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and increased their target price for the company from $79.00 to $86.00 in a research report on Monday, April 21st. Finally, UBS Group reduced their price objective on shares of Fidelity National Information Services from $84.00 to $82.00 and set a "neutral" rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $90.70.

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.