Weitz Investment Management: “FIS’ Risk/Reward Balance is Favorable”

Weitz Investment Management, an investment management firm, published its “Weitz Investment Management Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Value Fund’s Institutional Class returned -7.96% for the first quarter compared to -4.60% for the S&P 500 and -5.13% for the Russell 1000. For the fiscal year ended March 31, 2022, the Fund’s Institutional Class returned +8.80% compared to +15.63% for the S&P 500 and +13.27% for the Russell 1000. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Weitz Investment Management Value Fund mentioned Fidelity National Information Services, Inc. (NYSE:FIS) and explained its insights for the company. Founded in 1968, Fidelity National Information Services, Inc. (NYSE:FIS) is a Jacksonville, Florida-based multinational corporation with a $60.2 billion market capitalization. Fidelity National Information Services, Inc. (NYSE:FIS) delivered a -9.64% return since the beginning of the year, while its 12-month returns are down by -32.89%. The stock closed at $98.63 per share on June 24, 2022.

Here is what Weitz Investment Management Value Fund has to say about Fidelity National Information Services, Inc. (NYSE:FIS) in its Q1 2022 investor letter:

“Other fiscal-year detractors included Fidelity National Information Services (NYSE:FIS). FIS has been our most disappointing investment in the Covid era. Unlike Meta, the stock trades well below our average cost. The business itself has been relatively durable, but the stock certainly has not. While the core elements of our bullish thesis remain firmly intact, hindsight tells us that we could have waited for a better entry point. From today’s stock price, which is what matters now, we think the risk/reward balance is favorable.”

Investments, Finance

Our calculations show that Fidelity National Information Services, Inc. (NYSE:FIS) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Fidelity National Information Services, Inc. (NYSE:FIS) was in 68 hedge fund portfolios at the end of the first quarter of 2022, compared to 75 funds in the previous quarter. Fidelity National Information Services, Inc. (NYSE:FIS) delivered a 1.21% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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