Norges Bank Makes New $495.96 Million Investment in Fidelity National Information Services, Inc. $FIS

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Fidelity National Information Services, buying 7.46 million shares worth about $495.96 million and ending with 1.44% ownership.
• FIS reported better-than-expected quarterly results, with EPS of $1.36 beating estimates and revenue of $3.30 billion slightly ahead of forecasts; revenue also rose 30.1% year over year.
• The company declared a quarterly dividend of $0.44 per share and continues to attract institutional ownership, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $61.33.

Norges Bank acquired a new position in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,462,468 shares of the information technology services provider's stock, valued at approximately $495,956,000. Norges Bank owned 1.44% of Fidelity National Information Services at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dodge & Cox boosted its position in Fidelity National Information Services by 22.2% during the third quarter. Dodge & Cox now owns 43,105,207 shares of the information technology services provider's stock worth $2,842,357,000 after purchasing an additional 7,830,710 shares during the period. Invesco Ltd. boosted its position in Fidelity National Information Services by 5.6% during the third quarter. Invesco Ltd. now owns 8,515,321 shares of the information technology services provider's stock worth $561,500,000 after purchasing an additional 448,712 shares during the period. Dimensional Fund Advisors LP boosted its position in Fidelity National Information Services by 7.4% during the third quarter. Dimensional Fund Advisors LP now owns 5,905,115 shares of the information technology services provider's stock worth $389,372,000 after purchasing an additional 408,166 shares during the period. Legal & General Group Plc boosted its position in Fidelity National Information Services by 0.6% during the third quarter. Legal & General Group Plc now owns 3,702,445 shares of the information technology services provider's stock worth $244,139,000 after purchasing an additional 22,097 shares during the period. Finally, AQR Capital Management LLC boosted its position in Fidelity National Information Services by 71.7% during the second quarter. AQR Capital Management LLC now owns 2,483,575 shares of the information technology services provider's stock worth $201,294,000 after purchasing an additional 1,037,100 shares during the period. 96.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FIS. Susquehanna reduced their price objective on Fidelity National Information Services from $69.00 to $55.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Citigroup reduced their price objective on Fidelity National Information Services from $53.00 to $48.00 in a report on Friday, May 8th. Raymond James Financial reduced their price objective on Fidelity National Information Services from $82.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. UBS Group reduced their price objective on Fidelity National Information Services from $73.00 to $63.00 and set a "buy" rating for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company reduced their price objective on Fidelity National Information Services from $81.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.33.

Insider Activity at Fidelity National Information Services

In other news, CEO Stephanie Ferris purchased 19,846 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $50.39 per share, for a total transaction of $1,000,039.94. Following the purchase, the chief executive officer owned 281,458 shares of the company's stock, valued at approximately $14,182,668.62. The trade was a 7.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.28% of the company's stock.

Fidelity National Information Services Trading Up 0.0%

FIS opened at $42.99 on Monday. Fidelity National Information Services, Inc. has a twelve month low of $41.33 and a twelve month high of $82.74. The company has a 50-day simple moving average of $45.68 and a 200 day simple moving average of $54.52. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $22.22 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 0.42 and a beta of 0.79.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Friday, May 8th. The information technology services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. Fidelity National Information Services had a return on equity of 21.30% and a net margin of 23.35%.The firm had revenue of $3.30 billion during the quarter, compared to analysts' expectations of $3.28 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The company's quarterly revenue was up 30.1% on a year-over-year basis. Fidelity National Information Services has set its FY 2026 guidance at 6.220-6.320 EPS and its Q2 2026 guidance at 1.450-1.490 EPS. Analysts predict that Fidelity National Information Services, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, June 11th. Fidelity National Information Services's dividend payout ratio is presently 34.11%.

About Fidelity National Information Services

Fidelity National Information Services NYSE: FIS is a global provider of financial technology solutions and services for banks, capital markets firms, merchants and corporations. The company develops and delivers software, processing, and outsourcing services that support core banking, payments and merchant acquiring, wealth and retirement platforms, risk and compliance, and trading and capital markets operations. Its offerings include cloud-based and on-premises core banking systems, card processing and gateway services, e-commerce and point-of-sale payment solutions, and a range of back-office and advisory services designed to automate and modernize financial operations.

FIS serves a broad international client base across North America, Europe, Latin America, and the Asia-Pacific region through a combination of direct clients and partner channels.

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