Is it Still Fine to Invest in Fidelity National Information Services?

ClearBridge Investments, an investment management firm, published its “Large Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Growth Strategy underperformed its Russell 1000 Growth Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains across seven of the eight sectors in which it was invested (out of 11 sectors total). The leading contributors to performance were in the IT and health care sectors, while the communication services sector was a detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Large Cap Growth Strategy, in its Q4 2021 investor letter, mentioned Fidelity National Information Services, Inc. (NYSE:FIS) and discussed its stance on the firm. Founded in 1968, Fidelity National Information Services, Inc. (NYSE:FIS) is a Jacksonville, Florida-based financial services company with a $61.8 billion market capitalization, and is currently spearheaded by its CEO, Gary A. Norcross. Fidelity National Information Services, Inc. (NYSE:FIS) delivered a -6.98% return since the beginning of the year, while its 12-month returns are down by -31.80%. The stock closed at $101.53 per share on April 07, 2022.

Here is what ClearBridge Investments Large Cap Growth Strategy has to say about Fidelity National Information Services, Inc. (NYSE:FIS) in its Q4 2021 investor letter:

“Several encouraging macro trends are emerging in support of two areas outside tech: consumer spending and industrial production. Unlike in past recessions and recoveries, consumer balance sheets have actually improved dramatically since the onset of the pandemic. This should feed through to increased spending on services like travel, which should benefit companies tied to the reopening like Fidelity National Information Services. We expect the supply chain constraints contributing to inflation and goods shortages will begin to lessen with an ambitious rebuilding of inventories.”

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Our calculations show that Fidelity National Information Services, Inc. (NYSE:FIS) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Fidelity National Information Services, Inc. (NYSE:FIS) was in 75 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 69 funds in the previous quarter. Fidelity National Information Services, Inc. (NYSE:FIS) delivered a -12.96% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Fidelity National Information Services, Inc. (NYSE:FIS) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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