Red Cedar Investment Management LLC Buys 24,215 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Red Cedar Investment Management LLC increased its holdings in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 236.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,445 shares of the information technology services provider's stock after purchasing an additional 24,215 shares during the quarter. Red Cedar Investment Management LLC's holdings in Fidelity National Information Services were worth $2,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Cadence Bank grew its holdings in Fidelity National Information Services by 1.9% in the 1st quarter. Cadence Bank now owns 7,145 shares of the information technology services provider's stock worth $530,000 after acquiring an additional 132 shares during the last quarter. Atomi Financial Group Inc. increased its stake in shares of Fidelity National Information Services by 3.4% during the third quarter. Atomi Financial Group Inc. now owns 4,162 shares of the information technology services provider's stock valued at $349,000 after buying an additional 135 shares during the period. Manchester Capital Management LLC lifted its stake in Fidelity National Information Services by 6.8% in the first quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider's stock worth $166,000 after acquiring an additional 143 shares during the period. Concord Wealth Partners lifted its position in shares of Fidelity National Information Services by 50.2% in the 3rd quarter. Concord Wealth Partners now owns 437 shares of the information technology services provider's stock worth $37,000 after purchasing an additional 146 shares during the period. Finally, SageView Advisory Group LLC boosted its stake in shares of Fidelity National Information Services by 1.3% during the 1st quarter. SageView Advisory Group LLC now owns 11,497 shares of the information technology services provider's stock valued at $853,000 after purchasing an additional 148 shares in the last quarter. 96.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey A. Goldstein purchased 626 shares of Fidelity National Information Services stock in a transaction on Tuesday, October 15th. The shares were bought at an average cost of $88.25 per share, for a total transaction of $55,244.50. Following the acquisition, the director now owns 10,397 shares in the company, valued at approximately $917,535.25. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Fidelity National Information Services Stock Performance

NYSE:FIS traded up $0.60 during mid-day trading on Monday, hitting $89.70. 6,171,223 shares of the company traded hands, compared to its average volume of 3,749,093. The stock's fifty day moving average price is $85.64 and its 200-day moving average price is $79.06. The firm has a market cap of $48.94 billion, a price-to-earnings ratio of 66.94, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.62. Fidelity National Information Services, Inc. has a one year low of $49.91 and a one year high of $91.98.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.13. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.49 billion. Fidelity National Information Services had a return on equity of 13.63% and a net margin of 7.72%. Fidelity National Information Services's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 EPS. Research analysts anticipate that Fidelity National Information Services, Inc. will post 5.09 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, December 9th. Fidelity National Information Services's payout ratio is currently 107.46%.

Wall Street Analyst Weigh In

FIS has been the subject of a number of research analyst reports. UBS Group raised their target price on Fidelity National Information Services from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Fidelity National Information Services from $70.00 to $73.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th. Jefferies Financial Group increased their target price on Fidelity National Information Services from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Morgan Stanley downgraded shares of Fidelity National Information Services from an "overweight" rating to an "equal weight" rating and set a $79.00 price objective on the stock. in a research report on Monday, July 22nd. Finally, Oppenheimer assumed coverage on shares of Fidelity National Information Services in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.30.

About Fidelity National Information Services

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.