Conestoga Capital Advisors, an asset management company, released its “SMid Cap Growth Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The Conestoga SMid Cap Growth Composite rose 8.52% net of fees in the second quarter, compared to the Russell 2500 Growth Index’s 6.41% return. A mix of both sector allocation and stock selection contributed positively to the relative return of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Smid Strategy highlighted stocks like Fair Isaac Corporation (NYSE:FICO) in the second quarter 2023 investor letter. Headquartered in Bozeman, Montana, Fair Isaac Corporation (NYSE:FICO) develops decision management solutions to help businesses to automate, enhance, and connect decisions. On August 9, 2023, Fair Isaac Corporation (NYSE:FICO) stock closed at $854.77 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was 5.42%, and its shares gained 75.80% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $21.363 billion.
Conestoga Smid Strategy made the following comment about Fair Isaac Corporation (NYSE:FICO) in its second quarter 2023 investor letter:
“Fair Isaac Corporation (NYSE:FICO): FICO is a leader in predictive analytics and decision management software and is also the provider of FICO credit scores. FICO reported solid quarterly results, reflecting strong performance in the Scores and Software segments. Management also slightly increased its full-year guidance for revenue and EPS. Scores revenue growth of 8% was driven by special pricing increases, while Software ARR growth accelerated meaningfully to 17% from low-double-digits in prior quarters due to increasing demand for its solutions and shortening sales cycles.”
Speedcurve Performance Analytics
Fair Isaac Corporation (NYSE:FICO) is not on our list of 30 Most Popular Stocks Among Hedge Funds As per our database, 37 hedge fund portfolios held Fair Isaac Corporation (NYSE:FICO) at the end of first quarter 2023 which was 36 in the previous quarter.
We discussed Fair Isaac Corporation (NYSE:FICO) in another article and shared Conestoga SMid Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 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.
