North Star Asset Management Inc. Cuts Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Key Points

• North Star Asset Management Inc. sold 5,374 shares of Fidelity National Information Services, Inc., reducing its stake by 2.5%, and now owns 210,542 shares worth approximately $15.72 million.
• Several institutional investors increased their stakes in Fidelity National Information Services, with Sierra Ocean LLC boosting their stake by 356% and multiple other firms showing significant increases.
• Fidelity National Information Services reported a quarterly earnings beat with $1.21 earnings per share, surpassing the consensus estimate of $1.20, and had overall revenue of $2.53 billion during the quarter.

North Star Asset Management Inc. trimmed its holdings in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,542 shares of the information technology services provider's stock after selling 5,374 shares during the quarter. North Star Asset Management Inc.'s holdings in Fidelity National Information Services were worth $15,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of FIS. Sierra Ocean LLC grew its position in Fidelity National Information Services by 356.0% during the 1st quarter. Sierra Ocean LLC now owns 342 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 267 shares during the last quarter. YANKCOM Partnership boosted its holdings in shares of Fidelity National Information Services by 118.8% during the 1st quarter. YANKCOM Partnership now owns 350 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Fidelity National Information Services by 92.1% during the 1st quarter. Meeder Asset Management Inc. now owns 342 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 164 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Fidelity National Information Services by 179.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 389 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Kennebec Savings Bank boosted its holdings in shares of Fidelity National Information Services by 71.3% during the 1st quarter. Kennebec Savings Bank now owns 447 shares of the information technology services provider's stock valued at $33,000 after acquiring an additional 186 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors.

Fidelity National Information Services Price Performance

Shares of Fidelity National Information Services stock traded down $1.26 on Thursday, hitting $79.38. 2,869,981 shares of the company traded hands, compared to its average volume of 2,024,983. The stock has a market capitalization of $41.71 billion, a P/E ratio of 52.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.63. Fidelity National Information Services, Inc. has a 52 week low of $66.51 and a 52 week high of $91.98. The business has a 50-day simple moving average of $80.45 and a 200 day simple moving average of $76.96.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.50 billion. Fidelity National Information Services had a net margin of 8.10% and a return on equity of 18.15%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. Research 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 firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. Fidelity National Information Services's dividend payout ratio (DPR) is presently 105.96%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FIS shares. Royal Bank Of Canada dropped their price target on shares of Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Truist Financial raised their price target on shares of Fidelity National Information Services from $84.00 to $85.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Stephens raised their price target on shares of Fidelity National Information Services from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Citigroup upgraded shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $79.00 to $86.00 in a research note on Monday, April 21st. Finally, UBS Group increased their price objective on shares of Fidelity National Information Services from $81.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Fidelity National Information Services has an average rating of "Moderate Buy" and an average price target of $91.00.

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.