LGT Fund Management Co Ltd. Has $727,000 Holdings in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• LGT Fund Management Co Ltd. significantly reduced its holdings in Fidelity National Information Services (FIS) by 60.0% in the first quarter, now owning 9,739 shares valued at $727,000.
• Institutional investors currently hold 96.23% of Fidelity National Information Services' stock, with several firms like Retirement Wealth Solutions and MassMutual Private Wealth increasing their stakes recently.
• Analysts have a generally positive outlook on FIS, with a consensus rating of "Moderate Buy" and an average price target of $91.63, indicating potential growth for the company.

LGT Fund Management Co Ltd. trimmed its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 60.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,739 shares of the information technology services provider's stock after selling 14,595 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Fidelity National Information Services were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sierra Ocean LLC grew its stake in shares of Fidelity National Information Services by 356.0% in the 1st quarter. Sierra Ocean LLC now owns 342 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 267 shares during the last quarter. YANKCOM Partnership grew its stake in shares of Fidelity National Information Services by 118.8% in the 1st quarter. YANKCOM Partnership now owns 350 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Fidelity National Information Services by 92.1% in the 1st quarter. Meeder Asset Management Inc. now owns 342 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 164 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of Fidelity National Information Services by 179.9% in the 1st 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 stake in shares of Fidelity National Information Services by 71.3% in the 1st 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 currently owned by institutional investors.

Fidelity National Information Services Stock Down 1.0%

NYSE FIS traded down $0.70 during trading on Friday, reaching $70.88. The company's stock had a trading volume of 3,952,820 shares, compared to its average volume of 3,624,532. 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 capitalization of $37.03 billion, a PE ratio of 393.80 and a beta of 1.04. The business has a 50-day moving average price of $79.10 and a 200-day moving average price of $76.52. 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 issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $1.36 earnings per share for the quarter, hitting analysts' consensus estimates of $1.36. Fidelity National Information Services had a net margin of 1.09% and a return on equity of 18.73%. The business had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the company earned $1.36 earnings per share. Fidelity National Information Services's revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 10th. Fidelity National Information Services's payout ratio is presently 888.89%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FIS. UBS Group lowered their price objective on shares of Fidelity National Information Services from $84.00 to $82.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. 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. Truist Financial lifted 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. Citigroup raised shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $79.00 to $86.00 in a research report on Monday, April 21st. Finally, Oppenheimer raised shares of 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 report on Wednesday, April 23rd. One equities research 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. Based on data from MarketBeat, Fidelity National Information Services presently has a consensus rating of "Moderate Buy" and an average price target of $91.63.

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.