Chairman and Chief Executive Frank Martire didn’t get any questions from shareholders at Fidelity National Information Services Inc.’s brief annual meeting Wednesday, but that shouldn’t have been a surprise.
The company known as FIS has produced a total shareholder return of 253 percent over the past five years, about double the 128 percent return of the Standard & Poor’s 500 index, so shareholders have very little room to question the company’s performance.
“Clearly right now we’re focusing on shareholder return,” Martire said at the meeting at the Riverside Avenue headquarters complex that FIS shares with Fidelity National Financial Inc. FIS was spun off from Fidelity in 2006.
However, FIS, which provides technology services for financial institutions, also is focused on serving its clients, he said. “We never lose sight of our guiding principles. That’s what our company is about,” Martire said.
FIS last year grew revenue by 5 percent and grew its earnings per share by 13 percent, meeting targets that the company had set. Martire attributed the gains simply to execution of the company’s strategy.
“We said what we’re going to do and we’re executing,” he said.
FIS, a Fortune 500 company that topped $6 billion in revenue last year, is the top company in its field, ranking first in the FinTech 100 ranking of largest worldwide providers of technology services to financial companies for three straight years.
“We’re number one in the industry. We’re very proud of it,” Martire said.
“It’s more important to be the best than the largest,” he said.
After the meeting, Martire said in an interview that one of FIS’ challenges as a technology company is to continue investing in product development.
“The pace of change is faster than ever,” he said. “You have to be quick on development.”
Cybersecurity is a particular focus, with banks and their customers worried about the safety of their financial information, he said.
FIS is working with financial institutions to stay ahead of the curve.
“I think it’s more important than ever that we work together with our clients,” Martire said.