James Morrow’s Callodine Capital Portfolio: Top 5 Picks

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

Callodine Capital’s Stake Value: $12,396,000

Percentage of Morrow’s 13F Portfolio: 4.67%

Number of Hedge Fund Holders: 72

Fidelity National Information Services, Inc. (NYSE: FIS) is a Jacksonville, Florida-based payment services provider. The company has a presence in over 50+ countries and has a workforce of 55,000 employees. Over the past five decades, the company has made numerous acquisitions to remain a notable name in the industry.

As of the second quarter of 2021, Callodine Capital’s stake in Fidelity National Information Services, Inc. (NYSE: FIS) was valued at nearly $12.4 million. ROAM Global Management is the leading stakeholder in the company as of the second quarter of 2021, with shares worth over $4.37 billion.

Since the start of the year, the stock price of Fidelity National Information Services, Inc. (NYSE: FIS) has been down nearly 18%, and currently, the stock is trading around an 18-month low. This prompted TRC Capital Investment to make an unsolicited mini-tender offer for 1 million shares of Fidelity National Information Services, Inc. (NYSE: FIS). This is equivalent to 0.16% of total shares outstanding. Fidelity has recommended its shareholders not to entertain this offer, which will expire on October 19.

David Koning, an analyst at the investment advisory Baird, kept an Outperform rating on Fidelity National Information Services, Inc. (NYSE: FIS) stock and lowered the price target to $174 from $182, noting the banking industry’s pace of growth in the past 10 years.