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Weitz Investment, Still Optimistic in Fidelity National Information Services (FIS)

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Weitz Investment Management, an investment management firm, published its “Partners III Opportunity Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -0.06% was recorded by the fund in the third quarter of 2021, compared to +0.58% for the S&P 500 and -0.10% for the Russell 3000 for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Weitz Investment Management Partners III Opportunity Fund, in its Q3 2021 investor letter, mentioned Fidelity National Information Services, Inc. (NYSE: FIS) and discussed its stance on the firm. Fidelity National Information Services, Inc. is a Millburn, New Jersey-based financial products and services company with a $66.9 billion market capitalization. FIS delivered a -22.28% return since the beginning of the year, while its 12-month returns are down by -23.74%. The stock closed at $109.01 per share on November 19, 2021.

Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Fidelity National Information Services, Inc. in its Q3 2021 investor letter:

"Shares of Fidelity National Information Services (FIS) declined as its payments volume growth has lagged peers due in part to greater exposure to industries recovering more slowly (e.g., global travel) or geographies pursuing more substantive lockdowns (e.g., the United Kingdom). As these temporary headwinds calm and FIS continues to win new business, we believe investors will better appreciate the positive, longer-term outlook."

Based on our calculations, Fidelity National Information Services, Inc. (NYSE: FIS) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. FIS was in 72 hedge fund portfolios at the end of the first half of 2021, compared to 74 funds in the previous quarter. Fidelity National Information Services, Inc. (NYSE: FIS) delivered a -15.42% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.