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SouthState Corp Raises Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Fidelity National Information Services logo with Business Services background

Key Points

  • SouthState Corp significantly increased its stake in Fidelity National Information Services by 555,450% during the first quarter, acquiring an additional 11,109 shares, resulting in a total of 11,111 shares valued at $830,000.
  • Fidelity National Information Services reported a quarterly revenue of $2.62 billion, exceeding analysts' expectations, while maintaining earnings per share at $1.36.
  • The company declared a quarterly dividend of $0.40, which translates to an annualized dividend of $1.60 and a yield of 2.3%.
  • Want stock alerts on Fidelity National Information Services? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

SouthState Corp increased its stake in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 555,450.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,111 shares of the information technology services provider's stock after buying an additional 11,109 shares during the quarter. SouthState Corp's holdings in Fidelity National Information Services were worth $830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC lifted its holdings in shares of Fidelity National Information Services by 356.0% in the first quarter. Sierra Ocean LLC now owns 342 shares of the information technology services provider's stock worth $26,000 after buying an additional 267 shares in the last quarter. YANKCOM Partnership grew its position 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 valued at $26,000 after acquiring an additional 190 shares during the last quarter. Meeder Asset Management Inc. grew its position in 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 acquiring an additional 164 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Fidelity National Information Services by 179.9% in 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 last quarter. Finally, Kennebec Savings Bank grew its holdings in shares of Fidelity National Information Services by 71.3% in 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 last quarter. 96.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank Of Canada dropped their price target on Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Truist Financial raised their price target on Fidelity National Information Services from $84.00 to $85.00 and gave the company a "hold" rating in a report on Thursday, July 17th. TD Cowen upgraded Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price target for the company in a report on Monday, April 21st. Oppenheimer upgraded Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird boosted their price target on 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fidelity National Information Services currently has a consensus rating of "Moderate Buy" and an average target price of $91.63.

Read Our Latest Stock Analysis on FIS

Fidelity National Information Services Price Performance

Shares of FIS traded down $0.67 during mid-day trading on Friday, hitting $70.91. 2,639,683 shares of the stock were exchanged, compared to its average volume of 3,613,753. The company has a market cap of $37.04 billion, a PE ratio of 393.98 and a beta of 1.04. Fidelity National Information Services, Inc. has a 52-week low of $66.51 and a 52-week high of $91.98. The firm has a 50-day moving average of $79.10 and a two-hundred day moving average of $76.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.59 and a current ratio of 0.59.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share for the quarter, meeting the consensus estimate of $1.36. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. Fidelity National Information Services had a return on equity of 18.73% and a net margin of 1.09%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. On average, equities analysts predict that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current year.

Fidelity National Information Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 10th. Fidelity National Information Services's dividend payout ratio is currently 888.89%.

Fidelity National Information Services Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

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