Swiss National Bank Lowers Stock Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• The Swiss National Bank reduced its stake in Fidelity National Information Services by 1.5%, now holding approximately 1.52 million shares valued at $113.39 million.
• Fidelity National Information Services reported a 5.1% increase in revenue year-over-year, totaling $2.62 billion for the latest quarter.
• The company announced a quarterly dividend of $0.40 per share, translating to an annual yield of 2.2% with a high payout ratio of 888.89%.

Swiss National Bank cut its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,518,346 shares of the information technology services provider's stock after selling 22,800 shares during the quarter. Swiss National Bank owned about 0.29% of Fidelity National Information Services worth $113,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new position in shares of Fidelity National Information Services during the 1st quarter worth $276,000. Brown Advisory Inc. lifted its stake in Fidelity National Information Services by 16.7% during the 1st quarter. Brown Advisory Inc. now owns 329,325 shares of the information technology services provider's stock worth $24,594,000 after acquiring an additional 47,086 shares in the last quarter. Compass Wealth Management LLC lifted its stake in Fidelity National Information Services by 13.5% during the 1st quarter. Compass Wealth Management LLC now owns 77,794 shares of the information technology services provider's stock worth $5,810,000 after acquiring an additional 9,251 shares in the last quarter. Brighton Jones LLC acquired a new position in Fidelity National Information Services during the 4th quarter worth about $347,000. Finally, Meritage Portfolio Management lifted its stake in Fidelity National Information Services by 43.9% during the 1st quarter. Meritage Portfolio Management now owns 82,571 shares of the information technology services provider's stock worth $6,166,000 after acquiring an additional 25,203 shares in the last quarter. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on FIS shares. Oppenheimer raised 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. TD Cowen raised 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 report on Monday, April 21st. Robert W. Baird increased their price target on Fidelity National Information Services from $82.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Truist Financial increased their price target on Fidelity National Information Services from $84.00 to $85.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods reduced their price target on Fidelity National Information Services from $92.00 to $88.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Fidelity National Information Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.63.

Fidelity National Information Services Stock Performance

NYSE:FIS traded down $0.62 during mid-day trading on Thursday, reaching $72.15. 962,295 shares of the stock were exchanged, compared to its average volume of 3,605,377. The company has a 50 day simple moving average of $79.28 and a 200-day simple moving average of $76.59. The stock has a market capitalization of $37.69 billion, a P/E ratio of 401.02 and a beta of 1.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.63. Fidelity National Information Services, Inc. has a 1 year low of $66.51 and a 1 year high of $91.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Fidelity National Information Services's dividend payout ratio (DPR) is currently 888.89%.

Fidelity National Information Services 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.