Red Cedar Investment Management LLC Sells 17,719 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Red Cedar Investment Management LLC lessened its position in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 82.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,750 shares of the information technology services provider's stock after selling 17,719 shares during the period. Red Cedar Investment Management LLC's holdings in Fidelity National Information Services were worth $280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kendall Capital Management boosted its holdings in shares of Fidelity National Information Services by 6.0% during the first quarter. Kendall Capital Management now owns 10,545 shares of the information technology services provider's stock worth $788,000 after acquiring an additional 595 shares during the period. Ameritas Advisory Services LLC boosted its stake in Fidelity National Information Services by 269.6% in the 1st quarter. Ameritas Advisory Services LLC now owns 13,745 shares of the information technology services provider's stock valued at $1,046,000 after purchasing an additional 10,026 shares during the period. Amalgamated Bank boosted its stake in Fidelity National Information Services by 0.4% in the 1st quarter. Amalgamated Bank now owns 105,573 shares of the information technology services provider's stock valued at $7,884,000 after purchasing an additional 436 shares during the period. KBC Group NV boosted its position in shares of Fidelity National Information Services by 0.5% in the first quarter. KBC Group NV now owns 1,186,638 shares of the information technology services provider's stock valued at $88,618,000 after acquiring an additional 6,380 shares during the period. Finally, RBA Wealth Management LLC boosted its holdings in Fidelity National Information Services by 3.0% in the 1st quarter. RBA Wealth Management LLC now owns 53,811 shares of the information technology services provider's stock valued at $4,019,000 after purchasing an additional 1,571 shares during the period. Institutional investors own 96.23% of the company's stock.

Fidelity National Information Services Price Performance

Fidelity National Information Services stock opened at $80.90 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $42.51 billion, a PE ratio of 53.58, a P/E/G ratio of 1.50 and a beta of 1.06. Fidelity National Information Services, Inc. has a 12 month low of $66.51 and a 12 month high of $91.98. The stock has a 50-day moving average price of $79.42 and a two-hundred day moving average price of $76.92.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. Fidelity National Information Services had a net margin of 8.10% and a return on equity of 18.15%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.33 EPS. Analysts expect that Fidelity National Information Services, Inc. will post 5.74 EPS for the current year.

Fidelity National Information Services Dividend Announcement

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

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein acquired 844 shares of the stock in a transaction dated Tuesday, April 15th. The stock was bought at an average cost of $72.04 per share, for a total transaction of $60,801.76. Following the completion of the transaction, the director now directly owns 11,942 shares of the company's stock, valued at $860,301.68. The trade was a 7.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird boosted 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. Truist Financial started coverage on Fidelity National Information Services in a research report on Monday, June 2nd. They set a "hold" rating and a $84.00 target price for the company. Royal Bank Of Canada cut their price objective on shares of Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Citigroup raised shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $79.00 to $86.00 in a research report on Monday, April 21st. Finally, UBS Group upped their price target on shares of Fidelity National Information Services from $81.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.75.

Fidelity National Information Services 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.

Want to see what other hedge funds are holding FIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelity National Information Services, Inc. (NYSE:FIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.