Fidelity National Information Services, Inc. (NYSE:FIS) Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management grew its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,352 shares of the information technology services provider’s stock after purchasing an additional 676 shares during the period. Meritage Portfolio Management’s holdings in Fidelity National Information Services were worth $3,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust raised its stake in shares of Fidelity National Information Services by 9.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 203 shares in the last quarter. Allworth Financial LP raised its position in Fidelity National Information Services by 14.4% in the 3rd quarter. Allworth Financial LP now owns 1,637 shares of the information technology services provider’s stock valued at $90,000 after purchasing an additional 206 shares in the last quarter. Counterpoint Mutual Funds LLC grew its position in shares of Fidelity National Information Services by 12.5% during the third quarter. Counterpoint Mutual Funds LLC now owns 1,978 shares of the information technology services provider’s stock worth $109,000 after buying an additional 220 shares in the last quarter. First Business Financial Services Inc. increased its stake in shares of Fidelity National Information Services by 4.4% during the third quarter. First Business Financial Services Inc. now owns 5,514 shares of the information technology services provider’s stock worth $305,000 after buying an additional 230 shares during the period. Finally, Catalyst Financial Partners LLC raised its holdings in Fidelity National Information Services by 3.1% in the third quarter. Catalyst Financial Partners LLC now owns 8,502 shares of the information technology services provider’s stock valued at $470,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 96.23% of the company’s stock.

Fidelity National Information Services Stock Performance

Shares of NYSE FIS traded down $0.34 during trading on Thursday, hitting $70.47. 3,985,559 shares of the company were exchanged, compared to its average volume of 4,435,101. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. Fidelity National Information Services, Inc. has a 1 year low of $46.91 and a 1 year high of $74.75. The firm’s fifty day moving average price is $69.78 and its 200 day moving average price is $61.71.

Fidelity National Information Services (NYSE:FIS) last issued its earnings results on Monday, February 26th. The information technology services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts anticipate that Fidelity National Information Services, Inc. will post 4.66 EPS for the current year.

Fidelity National Information Services declared that its board has authorized a share buyback program on Monday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Fidelity National Information Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%. Fidelity National Information Services’s payout ratio is -12.81%.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the company’s stock in a transaction on Monday, April 15th. The stock was purchased at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the acquisition, the director now owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FIS has been the subject of several recent analyst reports. TheStreet raised shares of Fidelity National Information Services from a “d” rating to a “c” rating in a research report on Monday, February 26th. Robert W. Baird downgraded Fidelity National Information Services from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $78.00 in a report on Wednesday, March 13th. Royal Bank of Canada boosted their target price on Fidelity National Information Services from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Evercore ISI raised their price objective on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Finally, Bank of America upped their target price on shares of Fidelity National Information Services from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Fidelity National Information Services presently has an average rating of “Moderate Buy” and an average price target of $71.59.

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.