LPL Financial LLC Purchases 5,883 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• LPL Financial LLC increased its stake in Fidelity National Information Services by 2.7%, acquiring an additional 5,883 shares during the first quarter, bringing its total holdings to 222,706 shares valued at approximately $16.6 million.
• Multiple analysts have provided mixed ratings for Fidelity National Information Services, with the stock receiving a consensus rating of "Moderate Buy" and a price target averaging $90.70.
• The company declared a quarterly dividend of $0.40, yielding around 2.3%, which is set to be paid on September 24th, 2023.

LPL Financial LLC raised its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 2.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222,706 shares of the information technology services provider's stock after acquiring an additional 5,883 shares during the quarter. LPL Financial LLC's holdings in Fidelity National Information Services were worth $16,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Retirement Wealth Solutions LLC grew its position in shares of Fidelity National Information Services by 3.7% in the 1st quarter. Retirement Wealth Solutions LLC now owns 4,140 shares of the information technology services provider's stock valued at $309,000 after acquiring an additional 146 shares during the period. Stonebrook Private Inc. grew its holdings in Fidelity National Information Services by 0.6% during the first quarter. Stonebrook Private Inc. now owns 24,424 shares of the information technology services provider's stock worth $1,824,000 after purchasing an additional 146 shares during the period. Integrated Advisors Network LLC increased its position in Fidelity National Information Services by 4.7% during the first quarter. Integrated Advisors Network LLC now owns 3,284 shares of the information technology services provider's stock worth $245,000 after buying an additional 147 shares during the last quarter. Private Trust Co. NA raised its stake in Fidelity National Information Services by 9.9% in the first quarter. Private Trust Co. NA now owns 1,660 shares of the information technology services provider's stock valued at $124,000 after buying an additional 149 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Fidelity National Information Services by 8.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,013 shares of the information technology services provider's stock worth $150,000 after acquiring an additional 153 shares during the period. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FIS has been the topic of several research reports. Citigroup upgraded shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and upped their price objective for the company from $79.00 to $86.00 in a report on Monday, April 21st. UBS Group decreased their price target 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. Stephens upped their target price on Fidelity National Information Services from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Truist Financial boosted their target price on Fidelity National Information Services from $84.00 to $85.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, TD Cowen raised Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price objective on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services presently has a consensus rating of "Moderate Buy" and an average price target of $91.63.

Fidelity National Information Services Trading Up 1.5%

FIS stock traded up $1.05 during midday trading on Friday, reaching $71.12. 4,362,103 shares of the company traded hands, compared to its average volume of 3,618,178. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of 395.13 and a beta of 1.04. Fidelity National Information Services, Inc. has a 52-week low of $66.51 and a 52-week high of $91.98. The business has a 50 day moving average of $79.95 and a 200-day moving average of $76.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.63 and a current ratio of 0.59.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share for the quarter, meeting analysts' consensus estimates of $1.36. The business had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $2.57 billion. Fidelity National Information Services had a net margin of 1.09% and a return on equity of 18.73%. The business's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 earnings per share. As a group, sell-side analysts expect 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. 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.