Primecap Management Co. CA Sells 482,680 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• Primecap Management Co. CA has reduced its stake in Fidelity National Information Services by 36.2%, now holding approximately 851,020 shares valued at $63.55 million.
• Several institutional investors, including WealthShield Partners LLC and Goldman Sachs Group Inc., have increased their holdings in Fidelity National Information Services, indicating ongoing interest in the stock.
• Fidelity National Information Services announced a quarterly dividend of $0.40 per share, with a dividend yield of 2.3%, despite a high dividend payout ratio of 888.89%.

Primecap Management Co. CA cut its holdings in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 36.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 851,020 shares of the information technology services provider's stock after selling 482,680 shares during the quarter. Primecap Management Co. CA owned about 0.16% of Fidelity National Information Services worth $63,554,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Sierra Ocean LLC lifted its stake in shares of Fidelity National Information Services by 356.0% in the 1st quarter. Sierra Ocean LLC now owns 342 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 267 shares during the last quarter. YANKCOM Partnership raised its holdings in Fidelity National Information Services by 118.8% during the first quarter. YANKCOM Partnership now owns 350 shares of the information technology services provider's stock valued at $26,000 after buying an additional 190 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Fidelity National Information Services by 92.1% during the 1st quarter. Meeder Asset Management Inc. now owns 342 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 164 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Fidelity National Information Services by 179.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 389 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Kennebec Savings Bank raised its stake in shares of Fidelity National Information Services by 71.3% in the 1st quarter. Kennebec Savings Bank now owns 447 shares of the information technology services provider's stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. 96.23% of the stock is owned by institutional investors.

Fidelity National Information Services Stock Performance

Shares of NYSE:FIS traded up $1.05 during trading on Friday, hitting $71.12. 4,362,174 shares of the stock were exchanged, compared to its average volume of 3,083,271. The company has a market capitalization of $37.15 billion, a price-to-earnings ratio of 395.13 and a beta of 1.04. 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, Inc. has a 1-year low of $66.51 and a 1-year high of $91.98. The company's fifty day simple moving average is $79.78 and its 200-day simple moving average is $76.74.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 EPS for the quarter, hitting the consensus estimate of $1.36. The firm had revenue of $2.62 billion during 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%. Fidelity National Information Services's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $1.36 earnings per share. Sell-side analysts expect that Fidelity National Information Services, Inc. will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders 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 yield of 2.2%. Fidelity National Information Services's dividend payout ratio (DPR) is currently 888.89%.

Analyst Ratings Changes

FIS has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price 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. Truist Financial upped their price objective on shares of Fidelity National Information Services from $84.00 to $85.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. UBS Group dropped their target price on shares of Fidelity National Information Services from $84.00 to $82.00 and set a "neutral" rating on the stock in a report on Wednesday. Royal Bank Of Canada cut their target price on shares of 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. Finally, Stephens raised their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.63.

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.