Municipal Employees Retirement System of Michigan Has $1.75 Million Holdings in Fidelity National Information Services, Inc. (FIS)

Municipal Employees Retirement System of Michigan reduced its stake in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 9.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,750 shares of the information technology services provider’s stock after selling 2,000 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Fidelity National Information Services were worth $1,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Fidelity National Information Services by 10.5% during the 2nd quarter. BlackRock Inc. now owns 23,234,161 shares of the information technology services provider’s stock valued at $1,984,199,000 after acquiring an additional 2,208,363 shares during the period. Vanguard Group Inc. grew its position in shares of Fidelity National Information Services by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 22,545,037 shares of the information technology services provider’s stock valued at $1,925,346,000 after acquiring an additional 726,796 shares during the period. Longview Partners Guernsey LTD grew its position in shares of Fidelity National Information Services by 5.5% during the 3rd quarter. Longview Partners Guernsey LTD now owns 10,025,942 shares of the information technology services provider’s stock valued at $936,323,000 after acquiring an additional 521,300 shares during the period. Wells Fargo & Company MN grew its position in shares of Fidelity National Information Services by 4.8% during the 2nd quarter. Wells Fargo & Company MN now owns 5,380,794 shares of the information technology services provider’s stock valued at $459,519,000 after acquiring an additional 245,431 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Fidelity National Information Services by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,870,184 shares of the information technology services provider’s stock valued at $415,887,000 after acquiring an additional 69,174 shares during the period. 86.15% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald restated a “buy” rating and set a $108.00 target price on shares of Fidelity National Information Services in a research report on Sunday. KeyCorp restated a “buy” rating on shares of Fidelity National Information Services in a research report on Wednesday, November 1st. Oppenheimer Holdings, Inc. raised their target price on Fidelity National Information Services from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. J P Morgan Chase & Co dropped their target price on Fidelity National Information Services from $106.00 to $103.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 1st. Finally, Credit Suisse Group restated an “outperform” rating and set a $108.00 target price (up from $100.00) on shares of Fidelity National Information Services in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $98.38.

In related news, COO Anthony M. Jabbour sold 100,000 shares of Fidelity National Information Services stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $92.36, for a total value of $9,236,000.00. Following the completion of the sale, the chief operating officer now owns 282,689 shares in the company, valued at approximately $26,109,156.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James B. Stallings, Jr. sold 8,486 shares of Fidelity National Information Services stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $91.87, for a total transaction of $779,608.82. Following the completion of the sale, the director now owns 12,317 shares of the company’s stock, valued at approximately $1,131,562.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,033 shares of company stock worth $15,433,548. Corporate insiders own 2.66% of the company’s stock.

Fidelity National Information Services, Inc. (NYSE:FIS) opened at $93.54 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.87. Fidelity National Information Services, Inc. has a 12 month low of $73.97 and a 12 month high of $96.67. The firm has a market cap of $31,193.33, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Tuesday, October 31st. The information technology services provider reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. Fidelity National Information Services had a net margin of 5.82% and a return on equity of 14.05%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company posted $1.00 EPS. The business’s revenue was down 4.8% on a year-over-year basis. sell-side analysts predict that Fidelity National Information Services, Inc. will post 4.41 earnings per share for the current fiscal year.

Fidelity National Information Services announced that its board has authorized a stock buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 13.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, December 14th. Fidelity National Information Services’s payout ratio is presently 71.60%.

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About Fidelity National Information Services

Fidelity National Information Services, Inc (FIS) is a financial services technology company. The Company operates through three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The IFS segment is focused on serving the North American regional and community bank and savings institutions market for transaction and account processing, payment solutions, channel solutions, digital channels, risk and compliance solutions, and services.

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Institutional Ownership by Quarter for Fidelity National Information Services (NYSE:FIS)

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