Meritage Portfolio Management Acquires 25,203 Shares of Fidelity National Information Services, Inc. (NYSE:FIS)

Meritage Portfolio Management lifted its position in Fidelity National Information Services, Inc. (NYSE:FIS - Free Report) by 43.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,571 shares of the information technology services provider's stock after buying an additional 25,203 shares during the quarter. Meritage Portfolio Management's holdings in Fidelity National Information Services were worth $6,166,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Fidelity National Information Services in the 4th quarter valued at about $635,202,000. Raymond James Financial Inc. acquired a new stake in Fidelity National Information Services in the 4th quarter valued at about $451,458,000. Arrowstreet Capital Limited Partnership grew its holdings in Fidelity National Information Services by 100.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,231,856 shares of the information technology services provider's stock worth $261,037,000 after purchasing an additional 1,616,146 shares during the period. Capital Research Global Investors increased its position in Fidelity National Information Services by 3.8% during the fourth quarter. Capital Research Global Investors now owns 29,433,286 shares of the information technology services provider's stock worth $2,377,325,000 after buying an additional 1,082,929 shares during the last quarter. Finally, Northern Trust Corp increased its position in Fidelity National Information Services by 16.5% during the fourth quarter. Northern Trust Corp now owns 6,925,824 shares of the information technology services provider's stock worth $559,399,000 after buying an additional 982,955 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FIS has been the subject of several research reports. Truist Financial started coverage on Fidelity National Information Services in a report on Monday, June 2nd. They set a "hold" rating and a $84.00 price target for the company. Stephens increased their price objective on shares of Fidelity National Information Services from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. UBS Group upped their price target on shares of Fidelity National Information Services from $81.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Citigroup raised shares of Fidelity National Information Services from a "neutral" rating to a "buy" rating and increased their price target for the company from $79.00 to $86.00 in a report on Monday, April 21st. Finally, Royal Bank Of Canada reduced their price objective on Fidelity National Information Services from $95.00 to $93.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.75.

Insider Transactions at Fidelity National Information Services

In related news, Director Jeffrey A. Goldstein bought 844 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was purchased at an average price of $72.04 per share, with a total value of $60,801.76. Following the completion of the acquisition, the director owned 11,942 shares of the company's stock, valued at $860,301.68. The trade was a 7.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Fidelity National Information Services Price Performance

FIS traded up $0.40 on Thursday, hitting $81.67. 1,293,048 shares of the stock were exchanged, compared to its average volume of 3,364,569. The firm has a market capitalization of $42.91 billion, a price-to-earnings ratio of 54.09, a PEG ratio of 1.51 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.63 and a quick ratio of 0.63. Fidelity National Information Services, Inc. has a 12 month low of $66.51 and a 12 month high of $91.98. The business has a 50-day moving average of $79.62 and a two-hundred day moving average of $76.97.

Fidelity National Information Services (NYSE:FIS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Fidelity National Information Services had a net margin of 8.10% and a return on equity of 18.15%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. Sell-side analysts forecast that Fidelity National Information Services, Inc. will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Tuesday, June 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date was Tuesday, June 10th. Fidelity National Information Services's dividend payout ratio (DPR) is presently 105.96%.

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.