Cresset Asset Management LLC Trims Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Cresset Asset Management LLC lowered its holdings in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 80.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,435 shares of the information technology services provider's stock after selling 25,853 shares during the quarter. Cresset Asset Management LLC's holdings in Fidelity National Information Services were worth $520,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Fidelity National Information Services during the 4th quarter valued at $30,000. OFI Invest Asset Management purchased a new position in Fidelity National Information Services during the 4th quarter valued at $40,000. Grove Bank & Trust boosted its holdings in Fidelity National Information Services by 341.0% during the 4th quarter. Grove Bank & Trust now owns 516 shares of the information technology services provider's stock valued at $42,000 after acquiring an additional 399 shares during the period. Sound Income Strategies LLC boosted its holdings in Fidelity National Information Services by 70.2% during the 4th quarter. Sound Income Strategies LLC now owns 606 shares of the information technology services provider's stock valued at $49,000 after acquiring an additional 250 shares during the period. Finally, Avion Wealth boosted its holdings in Fidelity National Information Services by 503.0% during the 4th quarter. Avion Wealth now owns 609 shares of the information technology services provider's stock valued at $49,000 after acquiring an additional 508 shares during the period. Hedge funds and other institutional investors own 96.23% of the company's stock.

Insider Activity at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 844 shares of the stock in a transaction on Tuesday, April 15th. The shares were bought at an average price of $72.04 per share, with a total value of $60,801.76. Following the purchase, the director now directly owns 11,942 shares in the company, valued at $860,301.68. This trade represents a 7.60% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS traded up $1.04 during midday trading on Friday, reaching $79.75. 4,884,589 shares of the stock were exchanged, compared to its average volume of 3,494,924. The firm has a market cap of $41.90 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 1.23 and a beta of 1.08. Fidelity National Information Services, Inc. has a twelve month low of $66.51 and a twelve month high of $91.98. The firm has a 50-day simple moving average of $74.69 and a two-hundred day simple moving average of $78.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Fidelity National Information Services had a net margin of 14.54% and a return on equity of 17.30%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the company earned $1.33 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts anticipate 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 Tuesday, June 24th. Investors of record on Tuesday, June 10th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. Fidelity National Information Services's dividend payout ratio is currently 105.96%.

Analyst Upgrades and Downgrades

FIS has been the subject of several research reports. William Blair reiterated an "outperform" rating on shares of Fidelity National Information Services in a report on Tuesday, February 18th. Susquehanna cut Fidelity National Information Services from a "positive" rating to a "neutral" rating and lowered their target price for the stock from $103.00 to $81.00 in a report on Wednesday, February 12th. Royal Bank of Canada decreased their price objective 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. TD Cowen upgraded Fidelity National Information Services from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a research note on Monday, April 21st. Finally, Barclays cut their price objective on Fidelity National Information Services from $102.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.11.

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.