Resona Asset Management Co. Ltd. Purchases 10,952 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Fidelity National Information Services by 6.7% in the first quarter, owning 175,297 shares valued at $13.06 million.
• The company recently reported earnings of $1.36 EPS for the quarter, meeting analysts' expectations, along with a revenue of $2.62 billion, which was above projections.
• A dividend of $0.40 per share has been announced, with an annualized yield of 2.2%, indicating a high payout ratio of 888.89%.

Resona Asset Management Co. Ltd. boosted its stake in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 6.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,297 shares of the information technology services provider's stock after purchasing an additional 10,952 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Fidelity National Information Services were worth $13,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in shares of Fidelity National Information Services in the first quarter worth about $276,000. Brown Advisory Inc. increased its holdings in shares of Fidelity National Information Services by 16.7% in the first 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 in the last quarter. Compass Wealth Management LLC increased its holdings in shares of Fidelity National Information Services by 13.5% in the first quarter. Compass Wealth Management LLC now owns 77,794 shares of the information technology services provider's stock worth $5,810,000 after acquiring an additional 9,251 shares in the last quarter. Brighton Jones LLC bought a new stake in shares of Fidelity National Information Services in the fourth quarter worth about $347,000. Finally, Meritage Portfolio Management increased its holdings in shares of Fidelity National Information Services by 43.9% in the first quarter. Meritage Portfolio Management now owns 82,571 shares of the information technology services provider's stock worth $6,166,000 after acquiring an additional 25,203 shares in the last quarter. Institutional investors own 96.23% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FIS. Keefe, Bruyette & Woods reduced their price objective on Fidelity National Information Services from $92.00 to $88.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Royal Bank Of Canada reduced 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. UBS Group reduced their price objective on Fidelity National Information Services from $84.00 to $82.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Robert W. Baird upped their price objective on 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. Finally, 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 report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.63.

Fidelity National Information Services Stock Performance

Shares of FIS traded down $0.70 during mid-day trading on Friday, reaching $70.88. The company's stock had a trading volume of 3,952,820 shares, compared to its average volume of 3,476,062. Fidelity National Information Services, Inc. has a 1-year low of $66.51 and a 1-year high of $91.98. The stock has a market cap of $37.03 billion, a P/E ratio of 393.80 and a beta of 1.04. The business has a 50-day simple moving average of $78.90 and a two-hundred day simple moving average of $76.45. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.36. Fidelity National Information Services had a return on equity of 18.73% and a net margin of 1.09%. The company had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the firm posted $1.36 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

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

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.