Russell Investments Group Ltd. Grows Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Russell Investments Group Ltd. raised its position in Fidelity National Information Services, Inc. (NYSE:FIS) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 723,665 shares of the information technology services provider’s stock after purchasing an additional 88,564 shares during the period. Russell Investments Group Ltd.’s holdings in Fidelity National Information Services were worth $53,655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIS. Oppenheimer & Co. Inc. purchased a new position in shares of Fidelity National Information Services during the 1st quarter worth about $276,000. Brown Advisory Inc. boosted its position in shares of Fidelity National Information Services by 16.7% in the first 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 during the last quarter. Compass Wealth Management LLC boosted its position in shares of Fidelity National Information Services by 13.5% in the first 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 during the last quarter. Brighton Jones LLC acquired a new stake in shares of Fidelity National Information Services in the fourth quarter worth approximately $347,000. Finally, Meritage Portfolio Management boosted its position in shares of Fidelity National Information Services by 43.9% in the first 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 during the last quarter. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FIS has been the topic of several research analyst reports. Royal Bank Of Canada decreased their target price on shares of Fidelity National Information Services from $95.00 to $93.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Truist Financial raised their target price on shares of Fidelity National Information Services from $84.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. TD Cowen raised shares of Fidelity National Information Services from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Monday, April 21st. Stephens raised their target price on shares of Fidelity National Information Services from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, UBS Group reduced their price target on shares of Fidelity National Information Services from $84.00 to $82.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.63.

Fidelity National Information Services Trading Up 1.5%

NYSE FIS opened at $72.82 on Thursday. The company’s fifty day simple moving average is $79.28 and its 200-day simple moving average is $76.59. Fidelity National Information Services, Inc. has a 52 week low of $66.51 and a 52 week high of $91.98. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63. The stock has a market cap of $38.04 billion, a P/E ratio of 404.58 and a beta of 1.04.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.36. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Fidelity National Information Services had a net margin of 1.09% and a return on equity of 18.73%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. Equities research analysts predict that Fidelity National Information Services, Inc. will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 annualized dividend and a yield of 2.2%. Fidelity National Information Services’s dividend payout ratio is currently 888.89%.

About Fidelity National Information Services

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.