Wally Weitz Comments on Fidelity National Information Services

Guru stock highlight

Oct 25, 2021

Summary

A top detractor.

Shares of Fidelity National Information Services (FIS, Financial) declined as its payments volume growth has lagged peers due in part to greater exposure to industries recovering more slowly (e.g., global travel) or geographies pursuing more substantive lockdowns (e.g., the United Kingdom). As these temporary headwinds calm and FIS continues to win new business, we believe investors will better appreciate the positive, longer-term outlook.

From Wallace Weitz (Trades, Portfolio)'s Partners III Opportunity Fund third-quarter 2021 letter.

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