Is Fidelity National Information Services (FIS) A Good Stock To Buy?

As aggregate interest increased, some big names have jumped into Fidelity National Information Services (NYSE:FIS) headfirst. Brookside Capital, managed by Bain Capital, established the largest position in Fidelity National Information Services (NYSE:FIS). Brookside Capital had $78.1 million invested in the company at the end of the quarter. David Gallo’s Valinor Management LLC also made a $68.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Matthew Tewksbury’s Stevens Capital Management, Paul Tudor Jones’ Tudor Investment Corp, and Ira Unschuld’s Brant Point Investment Management.

Let’s now review hedge fund activity in other stocks similar to Fidelity National Information Services (NYSE:FIS). These stocks are Zimmer Biomet Holdings Inc (NYSE:ZBH), Valero Energy Corporation (NYSE:VLO), Consolidated Edison, Inc. (NYSE:ED), and Public Service Enterprise Group Inc. (NYSE:PEG). This group of stocks’ market valuations are similar to FIS’s market valuation.

As you can see these stocks had an average of 32 funds with bullish positions and the average amount invested in these stocks was $881 million. That figure was $2.87 billion in FIS’s case. Zimmer Biomet Holdings Inc (NYSE:ZBH) is the most popular stock in this table. On the other hand Public Service Enterprise Group Inc. (NYSE:PEG) is the least popular one with only 20 bullish hedge fund positions. Compared to these stocks Fidelity National Information Services (NYSE:FIS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None