Investment management company Vulcan Value Partners recently released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The firm is happy with the first quarter’s outcomes. All of the strategic composites generated positive returns, and many of them outperformed their respective benchmarks. In the quarter, the fund’s Large Cap Composite returned 12.0% net of fees and expenses, the Small Cap Composite returned 0.2% net, the Focus Composite returned 12.7% net, the Focus Plus composite returned 12.9%, and the All-Cap Composite returned 6.6% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners featured stocks like NICE Ltd. (NASDAQ:NICE) in the Q1 2024 investor letter. Headquartered in Ra’anana, Israel, NICE Ltd. (NASDAQ:NICE) is a cloud platform provider for AI-driven digital business solutions. On May 7, 2024, NICE Ltd. (NASDAQ:NICE) stock closed at $223.43 per share. One-month return of NICE Ltd. (NASDAQ:NICE) was -7.93%, and its shares gained 17.16% of their value over the last 52 weeks. NICE Ltd. (NASDAQ:NICE) has a market capitalization of $14.089 billion.
Vulcan Value Partners stated the following regarding NICE Ltd. (NASDAQ:NICE) in its first quarter 2024 investor letter:
“NICE Ltd. (NASDAQ:NICE) is a global enterprise software company that provides mission-critical contact center software. The company continues to perform well, and fundamentals are strong. Cloud revenue has grown in line with our expectations. We believe that generative AI will continue to drive cloud adoption and that AI is an opportunity rather than a threat to NICE’s business.”
A data scientist sitting in front of a monitor to review the performance of AI-driven digital business solutions.
NICE Ltd. (NASDAQ:NICE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, NICE Ltd. (NASDAQ:NICE) was held by 26 hedge fund portfolios, down from 21 in the previous quarter, according to our database.
We discussed NICE Ltd. (NASDAQ:NICE) in another article, where we shared TimesSquare Capital U.S. Mid Cap Growth’s views on the company in its third quarter 2023 investor letter. TimesSquare Capital U.S. Mid Cap Growth remained confident in NICE Ltd. (NASDAQ:NICE) despite sell-off in Q3 2023. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
