Market Commentary

Michael McCaul Sells Plenty, Buys Fidelity NIS Inc

Matthew Levy, CFA
6 Feb 2024 · 2 minutes read

Michael McCaul is a Republican politician who has served as the U.S. Representative for Texas's 10th congressional district since 2005. Recently he disclosed many trades, but of note were some of his larger trades. The following orders he made involved selling stocks with a dollar value between $100,000 to $250,000:

Additionally, there are two other stocks which were traded with value ranging between $250,000 to $500,000:

Several analysts have recently made changes to their ratings and price targets for Fidelity National Information Services Inc. (FIS):

  • On February 14th, Morgan Stanley upgraded their rating from Equal-Weight to Overweight, with a price target of $79. This is a recent upgrade that should be noted.

  • On the same day, Credit Suisse downgraded their rating from Outperform to Neutral, with a price target of $75.

  • Also on February 14th, Citigroup downgraded their rating from Buy to Neutral, with a price target of $70.

  • On January 17th, Barclays downgraded their rating from Overweight to Equal Weight, with a price target of $73.

  • On January 9th, KeyBanc Capital Markets downgraded their rating from Overweight to Sector Weight, with a price target of $75.

With this recent purchase, it appears that Mr. McCaul agrees with Morgan Stanley's upgrade and is looking to capitalize on FIS's potential future growth.

Born on January 14, 1962, in Dallas, Texas, McCaul attended Jesuit College Preparatory School before earning his undergraduate and law degrees from Trinity University and St. Mary's University School of Law, respectively. Prior to his political career, he worked as a federal prosecutor and served as the Deputy Attorney General in the U.S. Department of Justice.

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