Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTMX returned -22.47%, Advisor Class fund APDMX posted a return of -22.43%, and Institutional Class fund APHMX returned -22.40%, compared to a return of -21.07% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners discussed stocks like ZoomInfo Technologies Inc. (NASDAQ:ZI) in the second quarter investor letter. Headquartered in Vancouver, Washington, ZoomInfo Technologies Inc. (NASDAQ:ZI) is a go-to-market-intelligence platform provider. On September 26, 2022, ZoomInfo Technologies Inc. (NASDAQ:ZI) stock closed at $39.19 per share. One-month return of ZoomInfo Technologies Inc. (NASDAQ:ZI) was -15.10% and its shares lost 35.78% of their value over the last 52 weeks. ZoomInfo Technologies Inc. (NASDAQ:ZI) has a market capitalization of $15.811 billion.
Here is what Artisan Partners specifically said about ZoomInfo Technologies Inc. (NASDAQ:ZI) in its Q2 2022 investor letter:
“ZoomInfo Technologies Inc. (NASDAQ:ZI) is a leading provider of contact databases and associated marketing automation tools for business-to-business sellers. We believe the company’s combination of data, insights and digital tools is being well received by companies looking to increase sales force productivity and enhance the returns on their substantial customer relationship management (CRM) software investments. In addition, the company has impressively grown its base data business and layered in more advanced software functionality while maintaining 40% operating margins. While ZoomInfo’s growth strategies have significant long-term growth runway, investors have grown increasingly skeptical about the durability of its top-line growth in a recession as customers potentially look to cut costs. Our research suggests ZoomInfo’s sales analytics tools offer solid paybacks to its customers, and we believe the company will still be able to efficiently reach new sales prospects in a downturn. With shares trading at an attractive valuation and our profit cycle thesis intact, we added modestly to our position.”
ZoomInfo Technologies Inc. (NASDAQ:ZI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held ZoomInfo Technologies Inc. (NASDAQ:ZI) at the end of the second quarter which was 51 in the previous quarter.
We discussed ZoomInfo Technologies Inc. (NASDAQ:ZI) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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