Scotia Capital Inc. Makes New Investment in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• Scotia Capital Inc. has acquired a new position in Fidelity National Information Services, Inc. (NYSE:FIS), purchasing 43,444 shares valued at approximately $3,244,000 during the first quarter.
• Major investors, including Sierra Ocean LLC and Meeder Asset Management Inc., have significantly increased their stake in FIS, indicating strong institutional interest.
• Fidelity National Information Services plans to pay a quarterly dividend of $0.40 per share, yielding 2.2%, with a dividend payout ratio of 105.96%.

Scotia Capital Inc. bought a new position in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,444 shares of the information technology services provider's stock, valued at approximately $3,244,000.

Several other large investors have also modified their holdings of FIS. Sierra Ocean LLC lifted its stake 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 valued at $26,000 after buying an additional 267 shares during the period. Meeder Asset Management Inc. lifted its stake 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 valued at $26,000 after buying an additional 164 shares during the period. YANKCOM Partnership raised its stake 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 worth $26,000 after purchasing an additional 190 shares during the period. Hazlett Burt & Watson Inc. raised its stake in 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 during the period. Finally, Kennebec Savings Bank raised its stake in 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 during the period. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group increased their price target on shares of Fidelity National Information Services from $81.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. TD Cowen raised shares of Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price target on the stock in a research note on Monday, April 21st. Robert W. Baird raised their target price on shares of Fidelity National Information Services from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Oppenheimer raised shares of Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 target price on the stock in a research note on Wednesday, April 23rd. Finally, Truist Financial raised their target price on shares of Fidelity National Information Services from $84.00 to $85.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Fidelity National Information Services Trading Down 8.7%

Shares of FIS stock opened at $72.13 on Wednesday. Fidelity National Information Services, Inc. has a 52-week low of $66.51 and a 52-week high of $91.98. The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 47.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a fifty day moving average of $80.31 and a 200-day moving average of $76.90.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 net margin of 8.10% and a return on equity of 18.15%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 EPS. On average, equities research analysts forecast 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 company also recently announced 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 is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. Fidelity National Information Services's dividend payout ratio (DPR) is 105.96%.

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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