Crescent Grove Advisors LLC Cuts Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Crescent Grove Advisors LLC trimmed its holdings in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 31.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,312 shares of the information technology services provider's stock after selling 85,953 shares during the period. Fidelity National Information Services comprises about 1.4% of Crescent Grove Advisors LLC's investment portfolio, making the stock its 21st largest holding. Crescent Grove Advisors LLC's holdings in Fidelity National Information Services were worth $13,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kennebec Savings Bank raised its holdings 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 acquiring an additional 186 shares in the last quarter. OFI Invest Asset Management bought a new position in Fidelity National Information Services during the 4th quarter worth $40,000. CoreCap Advisors LLC increased its holdings in Fidelity National Information Services by 877.6% in the 4th quarter. CoreCap Advisors LLC now owns 567 shares of the information technology services provider's stock valued at $46,000 after buying an additional 509 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Fidelity National Information Services by 139.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 637 shares of the information technology services provider's stock valued at $51,000 after purchasing an additional 371 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in Fidelity National Information Services by 34.3% during the first quarter. Pinnacle Bancorp Inc. now owns 685 shares of the information technology services provider's stock worth $51,000 after acquiring an additional 175 shares in the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jeffrey A. Goldstein acquired 844 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $72.04 per share, with a total value of $60,801.76. Following the acquisition, the director now owns 11,942 shares of the company's stock, valued at approximately $860,301.68. This trade represents a 7.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company's stock.

Fidelity National Information Services Stock Performance

FIS traded up $0.90 during midday trading on Friday, reaching $80.90. The company had a trading volume of 4,300,733 shares, compared to its average volume of 3,367,371. Fidelity National Information Services, Inc. has a 12-month low of $66.51 and a 12-month high of $91.98. 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 business has a 50-day moving average price of $79.42 and a two-hundred day moving average price of $77.03. The stock has a market cap of $42.51 billion, a PE ratio of 53.58, a P/E/G ratio of 1.49 and a beta of 1.06.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Fidelity National Information Services had a return on equity of 18.15% and a net margin of 8.10%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts expect that Fidelity National Information Services, Inc. will post 5.74 earnings per share for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. Fidelity National Information Services's dividend payout ratio is currently 105.96%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FIS. Truist Financial initiated coverage on shares of Fidelity National Information Services in a research report on Monday, June 2nd. They set a "hold" rating and a $84.00 price objective for the company. Oppenheimer raised Fidelity National Information Services from a "market perform" rating to an "outperform" rating and set a $94.00 target price for the company in a report on Wednesday, April 23rd. Royal Bank Of Canada lowered their target price on Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. UBS Group increased their price objective on Fidelity National Information Services from $81.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Robert W. Baird increased their price target on Fidelity National Information Services from $80.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Fidelity National Information Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.75.

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.