Red Cedar Investment Management LLC Cuts Stake in Fidelity National Information Services, Inc. (NYSE:FIS)

Red Cedar Investment Management LLC cut its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,469 shares of the information technology services provider’s stock after selling 12,976 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Fidelity National Information Services were worth $1,734,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in Fidelity National Information Services in the fourth quarter valued at about $2,593,000. Avanza Fonder AB purchased a new position in Fidelity National Information Services in the fourth quarter valued at about $3,227,000. Princeton Global Asset Management LLC purchased a new position in Fidelity National Information Services in the fourth quarter valued at about $2,313,000. CENTRAL TRUST Co raised its position in Fidelity National Information Services by 757.9% in the third quarter. CENTRAL TRUST Co now owns 11,831 shares of the information technology services provider’s stock valued at $991,000 after purchasing an additional 10,452 shares during the period. Finally, Brighton Jones LLC acquired a new stake in shares of Fidelity National Information Services during the fourth quarter valued at about $347,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey A. Goldstein bought 701 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were purchased at an average price of $79.97 per share, with a total value of $56,058.97. Following the completion of the acquisition, the director now directly owns 11,098 shares in the company, valued at approximately $887,507.06. This trade represents a 6.74 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

FIS has been the subject of several recent analyst reports. Stephens lowered their target price on Fidelity National Information Services from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Fidelity National Information Services from $89.00 to $99.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their target price on Fidelity National Information Services from $104.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday. Susquehanna downgraded Fidelity National Information Services from a “positive” rating to a “neutral” rating and lowered their target price for the company from $103.00 to $81.00 in a research note on Wednesday. Finally, Wells Fargo & Company lowered their target price on Fidelity National Information Services from $88.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Fidelity National Information Services currently has an average rating of “Hold” and a consensus target price of $87.95.

Fidelity National Information Services Stock Performance

Shares of FIS stock opened at $68.84 on Friday. The business has a 50 day moving average of $80.53 and a two-hundred day moving average of $82.78. The company has a market cap of $37.06 billion, a P/E ratio of 27.43, a PEG ratio of 0.63 and a beta of 1.04. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.63. Fidelity National Information Services, Inc. has a 52 week low of $62.17 and a 52 week high of $91.98.

Fidelity National Information Services (NYSE:FIS) last released its quarterly earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 15.35% and a net margin of 14.37%. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, analysts anticipate that Fidelity National Information Services, Inc. will post 5.18 EPS for the current year.

Fidelity National Information Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, March 11th. This is a boost from Fidelity National Information Services’s previous quarterly dividend of $0.36. Fidelity National Information Services’s payout ratio is 61.30%.

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.