Meritage Portfolio Management Purchases 676 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Meritage Portfolio Management raised its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 1.1% in the fourth quarter, Holdings Channel reports. The fund owned 62,352 shares of the information technology services provider’s stock after buying an additional 676 shares during the quarter. 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).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Fidelity National Information Services in the 3rd quarter valued at approximately $25,000. Baystate Wealth Management LLC increased its position in Fidelity National Information Services by 332.1% during the third quarter. Baystate Wealth Management LLC now owns 484 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 372 shares during the period. BKM Wealth Management LLC acquired a new position in Fidelity National Information Services during the 4th quarter valued at $35,000. Criterion Capital Advisors LLC bought a new stake in Fidelity National Information Services in the 4th quarter valued at $40,000. Finally, ORG Partners LLC acquired a new stake in Fidelity National Information Services in the 4th quarter worth $48,000. 96.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein purchased 775 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were acquired at an average price of $72.37 per share, with a total value of $56,086.75. Following the completion of the purchase, the director now directly owns 9,052 shares of the company’s stock, valued at approximately $655,093.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

FIS has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Fidelity National Information Services from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Evercore ISI lifted their price target on shares of Fidelity National Information Services from $58.00 to $62.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Robert W. Baird cut shares of 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 research note on Wednesday, March 13th. Morgan Stanley lifted their target price on shares of Fidelity National Information Services from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group began coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They issued a “buy” rating and a $84.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.59.

Fidelity National Information Services Stock Performance

Shares of FIS stock traded down $0.34 during trading hours on Thursday, hitting $70.47. 3,985,559 shares of the company’s stock were exchanged, compared to its average volume of 4,435,101. Fidelity National Information Services, Inc. has a 52 week low of $46.91 and a 52 week high of $74.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50-day moving average is $69.78 and its 200-day moving average is $61.71.

Fidelity National Information Services (NYSE:FIS) last issued its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.52 billion. During the same period in the prior year, the company earned $1.71 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Research 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 of Directors has authorized a stock buyback plan on Monday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Fidelity National Information Services Announces Dividend

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

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.