5 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital

1. Fidelity National Information Services, Inc. (NYSE:FIS)

Steadfast Capital’s Stake Value: $374,872,000
Percentage of Steadfast Capital’s 13F Portfolio: 6.25%
Number of Hedge Fund Holders: 75

Fidelity National Information Services, Inc. (NYSE:FIS) is a technology, solutions, and services company that works with merchants, banks, and capital markets firms. Merchant, Banking, Capital Markets, and Corporate and Others are the segments through which Fidelity National Information Services, Inc. (NYSE:FIS) operates.

Fidelity National Information Services, Inc. (NYSE:FIS) shares have returned 14.62% to investors over the course of the past month as of April 12. According to the 13F filings for the fourth quarter of 2021, Steadfast Capital held over 3.43 million shares of Fidelity National Information Services, Inc. (NYSE:FIS), amounting to more than $374.87 million in worth and representing 6.25% of the fund’s portfolio value.

At the end of the fourth quarter of 2021, Fidelity National Information Services, Inc. (NYSE:FIS) was in 75 hedge funds’ portfolios. There were 69 hedge funds in our database with Fidelity National Information Services, Inc. (NYSE:FIS) holdings at the end of the previous quarter. According to Insider Monkey’s fourth quarter database, Select Equity Group is the largest shareholder in Fidelity National Information Services, Inc. (NYSE:FIS), with 8.17 million shares valued at $891.53 million.

Baron Funds, in its Q3 2021 investor letter, mentioned Fidelity National Information Services, Inc. (NYSE:FIS) and discussed its stance on the firm. Here is what the fund said:

“Fidelity National Information Services, Inc. provides software to financial institutions and enables merchants to accept electronic payments. The company reported solid quarterly financial results that exceeded expectations and raised annual guidance for revenue and earnings. However, the stock fell due to concerns that Fidelity National’s legacy technology is losing market share to newer competitors with more modern technology. We believe these concerns are overblown and that Fidelity National remains well positioned to grow revenues organically at a high single-digit rate and earnings at a double-digit rate over time.”

You can also take a peek at 8 Best Energy Stocks to Buy According to Stuart Zimmer’s Hedge Fund and 10 Stocks to Buy According to Canyon Capital Advisors.

Follow Insider Monkey on Twitter