National Bank of Canada FI Sells 119,824 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• National Bank of Canada FI significantly reduced its stake in Fidelity National Information Services by 36.9%, selling 119,824 shares during the first quarter, leaving it with 204,516 shares valued at approximately $15.3 million.
• Fidelity National Information Services reported quarterly earnings of $1.36 per share, meeting analysts' expectations with revenues of $2.62 billion, which is a 5.1% increase year-over-year.
• The company announced a $0.40 quarterly dividend, representing a 2.3% yield, with a payout ratio of 888.89%, indicating a commitment to returning value to shareholders.

National Bank of Canada FI lowered its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 36.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,516 shares of the information technology services provider's stock after selling 119,824 shares during the quarter. National Bank of Canada FI's holdings in Fidelity National Information Services were worth $15,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC raised its position in shares of Fidelity National Information Services by 356.0% during the first quarter. Sierra Ocean LLC now owns 342 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 267 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Fidelity National Information Services by 92.1% during the first 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 during the last quarter. YANKCOM Partnership raised its position in shares of 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 worth $26,000 after acquiring an additional 190 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Fidelity National Information Services by 179.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 389 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Fidelity National Information Services by 100.5% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 445 shares of the information technology services provider's stock valued at $33,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 96.23% of the company's stock.

Fidelity National Information Services Stock Down 1.8%

FIS stock opened at $69.87 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $36.50 billion, a P/E ratio of 388.18 and a beta of 1.04. The business has a 50-day moving average of $79.60 and a 200-day moving average of $76.65. Fidelity National Information Services, Inc. has a fifty-two week low of $66.51 and a fifty-two week high of $91.98.

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, hitting the consensus estimate of $1.36. The company 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 revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. On average, sell-side analysts anticipate that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FIS shares. Royal Bank Of Canada dropped their price objective on Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. TD Cowen upgraded Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a report on Monday, April 21st. UBS Group dropped their price objective on Fidelity National Information Services from $84.00 to $82.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Keefe, Bruyette & Woods dropped their price objective on Fidelity National Information Services from $92.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Finally, Robert W. Baird upped their price objective on Fidelity National Information Services from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.

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