Pictet Asset Management Holding SA Sells 90,881 Shares of Fidelity National Information Services, Inc. $FIS

Key Points

• Pictet Asset Management cut its Fidelity National Information Services stake by 23.7% in the first quarter, selling 90,881 shares and leaving it with 293,176 shares valued at about $13.75 million.
• FIS posted stronger-than-expected quarterly results, with EPS of $1.36 topping estimates and revenue rising 30.1% year over year to $3.29 billion.
• The stock remains supported by analysts and income investors: the consensus rating is “Moderate Buy” with a $61.33 price target, while FIS also recently paid a $0.44 quarterly dividend for a 4.2% yield.

Pictet Asset Management Holding SA reduced its stake in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 23.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 293,176 shares of the information technology services provider's stock after selling 90,881 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Fidelity National Information Services worth $13,753,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of Fidelity National Information Services by 15.4% in the fourth quarter. Nordea Investment Management AB now owns 1,440,210 shares of the information technology services provider's stock worth $96,048,000 after purchasing an additional 191,957 shares during the last quarter. Clear Trail Advisors LLC purchased a new position in shares of Fidelity National Information Services in the 4th quarter worth $2,590,000. SG Americas Securities LLC grew its stake in shares of Fidelity National Information Services by 702.1% during the 4th quarter. SG Americas Securities LLC now owns 576,026 shares of the information technology services provider's stock valued at $38,283,000 after purchasing an additional 504,215 shares during the period. Norges Bank bought a new stake in Fidelity National Information Services during the fourth quarter valued at approximately $495,956,000. Finally, Brighton Jones LLC bought a new stake in shares of Fidelity National Information Services during the 4th quarter valued at $347,000. Hedge funds and other institutional investors own 96.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FIS shares. UBS Group cut their price objective on Fidelity National Information Services from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Keefe, Bruyette & Woods decreased their target price on Fidelity National Information Services from $72.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Cantor Fitzgerald decreased their price objective on Fidelity National Information Services from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. TD Cowen lowered their target price on Fidelity National Information Services from $78.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Finally, Citigroup dropped their price objective on shares of Fidelity National Information Services from $53.00 to $48.00 in a research note on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.33.

Fidelity National Information Services Stock Up 2.3%

Fidelity National Information Services stock opened at $41.72 on Friday. Fidelity National Information Services, Inc. has a twelve month low of $37.42 and a twelve month high of $82.62. The business has a fifty day moving average of $41.98 and a two-hundred day moving average of $50.17. The firm has a market cap of $21.56 billion, a P/E ratio of 8.09, a P/E/G ratio of 0.40 and a beta of 0.80. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its earnings results on Friday, May 8th. The information technology services provider reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.28 billion. Fidelity National Information Services had a net margin of 23.35% and a return on equity of 21.30%. The firm's revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. 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. On average, analysts forecast that Fidelity National Information Services, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, June 11th. Fidelity National Information Services's dividend payout ratio (DPR) is presently 34.11%.

Fidelity National Information Services Company Profile

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.

Want to see what other hedge funds are holding FIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelity National Information Services, Inc. (NYSE:FIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.