Artisan Partners Just Increased its BTRS Holdings (BTRS) Position, Should You Do the Same?

Artisan Partners, a high value-added investment management firm, published its ‘Artisan Small Cap Fund’ third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -1.20% was recorded by its Investor Class: ARTSX, -1.17% by its Advisor Class: APDSX, and -1.13% by its Institutional Class: APHSX for the third quarter of 2021, all above the Russell 2000® Growth Index that delivered a -5.65% return and the Russell 2000® Index that was down by -4.36% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Artisan Small Cap Fund, in its Q3 2021 investor letter, mentioned BTRS Holdings Inc. (NASDAQ: BTRS) and discussed its stance on the firm. BTRS Holdings Inc. is a New Jersey-based software company with a $1.0 billion market capitalization. BTRS delivered a -57.16% return since the beginning of the year, while its 12-month returns are down by -52.64%. The stock closed at $6.91 per share on December 03, 2021.

Here is what Artisan Small Cap Fund has to say about BTRS Holdings Inc.  in its Q3 2021 investor letter:

“We also added to our positions in BTRS Holdings. BTRS provides cloud-based accounts receivable software which automates inefficient, and oftentimes paper-based, B2B payment processes within the CFO office. Benefits include driving cost savings and eliminating human error. BTRS’ proprietary platform offers customers multiple ways to present invoices and receive payments, enabling the transition from expensive paper invoices and check acceptance to more efficient electronic billing and payments. In the US, an estimated 50% of B2B payments are still made via check. The company has approximately $1 trillion in accounts receivable dollars flowing through its software out of a total $120 trillion globally—leaving it with a meaningful runway for growth. We used Q3’s share price pullback to add to our position.”

Photo by Danial Igdery on Unsplash

Based on our calculations, BTRS Holdings Inc. (NASDAQ: BTRS) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. BTRS was in 28 hedge fund portfolios at the end of the third quarter of 2021, compared to 21 funds in the previous quarter. BTRS Holdings Inc. (NASDAQ: BTRS) delivered a -38.74% return in the past 3 months.

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