Below are the 5 stocks that helped Amish Mehta’s SQN Investors Return 46% in 2020. For a comprehensive list see 10 Stocks That Helped Amish Mehta’s SQN Investors Return 46%.
5. Five9, Inc. (NASDAQ: FIVN)
The software application provider for contact centers Five9, Inc. (NASDAQ: FIVN) is among the stocks that helped Amish Mehta’s SQN to outperform the market trends. Five9 currently accounts for 7.22% of the overall portfolio. The hedge fund has been holding a Five9 stake since the beginning of this year.
Five9 stock price rallied more than 160% in the last twelve months on the back of strong revenue growth trends.
Hedge funds are bullish about Five9. It was in 47 hedge funds’ portfolios at the end of September compared to the previous all-time high of 44. Wasatch Core Growth Fund, which returned 6.61% for the third quarter, commented about a few stocks including Five9 in an investor’s letter. Here is what Wasatch Core Growth Fund stated:
“One of the tech companies we like is Five9, Inc. (FIVN), which provides contact-center software that’s managed and hosted from the cloud. The company offers real-time and historical reporting, quality monitoring, and workforce and customer relationship-management integrations. The stock has benefited from the superiority of cloud-based software over on-premises/legacy software, which has become especially evident during the coronavirus pandemic. Five9’s robust software has enabled customers to quickly shift employees from large contact centers to work-from-home environments with limited disruption.”