Analysts Are Downgrading These 5 Stocks

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

Number of Hedge Fund Holders: 60

Citi downgraded Fidelity National Information Services, Inc. (NYSE:FIS) from “Buy” to “Neutral” on Tuesday, February 14. The research firm was primarily moved by the company’s decision to spin off its merchant business Worldpay.

Analyst Ashwin Shirvaikar called the decision a “potential lost opportunity.” Shirvaikar also cut his price target for Fidelity National Information Services, Inc. (NYSE:FIS) from $85 per share to $70 per share.

Separately, investment management firm Diamond Hill Capital also briefly discussed Fidelity National Information Services, Inc. (NYSE:FIS) in its Q4 2022 investor letter, stating:

“In addition to SVB Financial and V.F. Corporation, we eliminated our positions in financial services technology company Fidelity National Information Services, Inc. (NYSE:FIS) and media and technology company Comcast Corporation. Several reasons factored into our decision to sell Fidelity National Information Services, including board and leadership changes, a strategic review, and a cooperation agreement with activist shareholder D.E. Shaw (and discussions with JANA Partners).”