5 Tech Stock Picks of Cristan Black’s Empirical Capital

4. Change Healthcare Inc. (NASDAQ:CHNG)

Empirical Capital’s Holdings: $2.7 million

Percentage of Empirical Capital’s Portfolio: 2.84%

Number of Hedge Fund Holders: 50

Change Healthcare Inc. (NASDAQ:CHNG) is a data analytics services provider that targets the American healthcare industry. Its products allow customers to manage their revenue and workflow among other tasks.

By the end of this year’s third quarter, Mr. Black’s Empirical Capital held 129,160 Change Healthcare Inc. (NASDAQ:CHNG) shares. These were worth $2.7 million and represented 2.84% of its portfolio. Similarly, 50 of the 867 hedge funds polled by Insider Monkey for Q3 2021 held a stake in the company.

Change Healthcare Inc. (NASDAQ:CHNG) reported $828 million in revenue and $0.35 in non-GAAP EPS for its Q2, missing analyst estimates for both. In August 2021, Piper Sandler kept the company’s price target at $25.75.

Change Healthcare Inc.’s (NASDAQ:CHNG) largest shareholder is David Abrams’s Abrams Capital Management who holds 16.9 million shares worth $355 million.