Meritage Portfolio Management Invests $4.63 Million in Fidelity National Information Services, Inc. (NYSE:FIS)

Meritage Portfolio Management purchased a new position in Fidelity National Information Services, Inc. (NYSE:FIS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,368 shares of the information technology services provider’s stock, valued at approximately $4,634,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FIS. Larson Financial Group LLC boosted its holdings in shares of Fidelity National Information Services by 94.1% during the 3rd quarter. Larson Financial Group LLC now owns 328 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 159 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Fidelity National Information Services in the third quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Fidelity National Information Services in the fourth quarter valued at approximately $30,000. Groupama Asset Managment boosted its stake in Fidelity National Information Services by 0.8% during the third quarter. Groupama Asset Managment now owns 42,342 shares of the information technology services provider’s stock worth $35,000 after buying an additional 319 shares during the last quarter. Finally, Concord Wealth Partners increased its stake 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 acquiring an additional 146 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Fidelity National Information Services from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. UBS Group boosted their price target on shares of Fidelity National Information Services from $80.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Wells Fargo & Company initiated coverage on Fidelity National Information Services in a research note on Tuesday, January 14th. They set an “equal weight” rating and a $88.00 target price on the stock. Susquehanna raised their price target on shares of Fidelity National Information Services from $88.00 to $103.00 and gave the company a “positive” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Fidelity National Information Services from $89.00 to $99.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein purchased 701 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was acquired at an average price of $79.97 per share, with a total value of $56,058.97. Following the purchase, the director now directly owns 11,098 shares of the company’s stock, valued at $887,507.06. This represents a 6.74 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lenore D. Williams sold 11,305 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $87.97, for a total transaction of $994,500.85. Following the completion of the sale, the executive vice president now directly owns 32,199 shares in the company, valued at approximately $2,832,546.03. The trade was a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Fidelity National Information Services Stock Down 0.4 %

Fidelity National Information Services stock opened at $81.59 on Wednesday. Fidelity National Information Services, Inc. has a twelve month low of $60.39 and a twelve month high of $91.98. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $81.54 and a two-hundred day moving average of $82.74. The stock has a market capitalization of $43.92 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 0.62 and a beta of 1.04.

Fidelity National Information Services (NYSE:FIS) last announced its quarterly earnings data on Monday, November 4th. The information technology services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. Fidelity National Information Services had a net margin of 14.37% and a return on equity of 15.35%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts expect that Fidelity National Information Services, Inc. will post 5.18 earnings per share for the current year.

Fidelity National Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. This is an increase from Fidelity National Information Services’s previous quarterly dividend of $0.36. Fidelity National Information Services’s dividend payout ratio (DPR) is 57.37%.

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.