Neo Ivy Capital Management Takes $1.93 Million Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• Neo Ivy Capital Management has acquired a new position in Fidelity National Information Services, purchasing 25,844 shares valued at approximately $1.93 million during the first quarter.
• Fidelity National Information Services reported $1.21 EPS for the last quarter, exceeding estimates, with revenue of $2.53 billion up 2.6% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, reflecting an annualized dividend yield of 1.99% and a payout ratio of 105.96%.

Neo Ivy Capital Management purchased a new stake in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,844 shares of the information technology services provider's stock, valued at approximately $1,930,000.

Several other hedge funds have also recently bought and sold shares of the business. Sierra Ocean LLC lifted 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 purchasing an additional 267 shares in the last quarter. YANKCOM Partnership lifted 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 purchasing an additional 190 shares in the last quarter. Hazlett Burt & Watson Inc. lifted 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 purchasing an additional 250 shares in the last quarter. Kennebec Savings Bank lifted its position in shares of Fidelity National Information Services by 71.3% during the first quarter. Kennebec Savings Bank now owns 447 shares of the information technology services provider's stock worth $33,000 after purchasing an additional 186 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Fidelity National Information Services during the first quarter worth $43,000. Hedge funds and other institutional investors own 96.23% of the company's stock.

Fidelity National Information Services Stock Up 0.2%

Shares of FIS traded up $0.13 during trading hours on Tuesday, reaching $81.96. The company's stock had a trading volume of 669,544 shares, compared to its average volume of 3,543,583. The firm has a market cap of $43.06 billion, a price-to-earnings ratio of 54.23 and a beta of 1.06. Fidelity National Information Services, Inc. has a 1-year low of $66.51 and a 1-year high of $91.98. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $80.38 and a two-hundred day moving average of $76.89.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Fidelity National Information Services had a return on equity of 18.15% and a net margin of 8.10%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. As a group, research analysts predict that Fidelity National Information Services, Inc. will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. Fidelity National Information Services's payout ratio is currently 105.96%.

Analyst Upgrades and Downgrades

FIS has been the topic of a number of recent research reports. Stephens boosted their target price on shares of Fidelity National Information Services from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Robert W. Baird boosted 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 price target on shares of 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. Oppenheimer upgraded shares of Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 price target for the company in a research note on Wednesday, April 23rd. Finally, Citigroup upgraded shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $79.00 to $86.00 in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Fidelity National Information Services currently has a consensus rating of "Moderate Buy" and an average target price of $91.00.

About Fidelity National Information Services

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.