Conestoga Capital Advisors, an asset management company, released its “SMid Cap Growth Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The Conestoga Smid Cap Growth Composite returned -6.36% net of fees in the third quarter, compared to the Russell 2500 Growth Index’s -6.84% return. Stock selection in the Industrials, Health Care, and Basic Materials sectors was positive but offset by a lack of exposure to the Energy sector and negative selection in Technology. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga SMid Cap Composite highlighted stocks like Fair Isaac Corporation (NYSE:FICO) in the third quarter 2023 investor letter. Headquartered in Bozeman, Montana, Fair Isaac Corporation (NYSE:FICO) develops decision management solutions to help businesses automate, enhance, and connect decisions. On November 14, 2023, Fair Isaac Corporation (NYSE:FICO) stock closed at $1,027.15 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was 12.29%, and its shares gained 66.24% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $25.385 billion.
Conestoga SMid Cap Composite made the following comment about Fair Isaac Corporation (NYSE:FICO) in its Q3 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 a beat-and-raise quarter, with meaningful outperformance on revenue, EBITDA margins and EPS relative to consensus estimates. The Scores business delivered double-digit year-over-year revenue growth reflecting benefits from strong price realization, particularly in the mortgage segment. In addition, the Software business demonstrated significant progress with its platform strategy.”
A hands-on approach: technicians working on data management products in an open lab space.
Fair Isaac Corporation (NYSE:FICO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Fair Isaac Corporation (NYSE:FICO) at the end of second quarter which was 37 in the previous quarter.
We discussed Fair Isaac Corporation (NYSE:FICO) in another article and shared the list of best performing small-cap ETFs in 2023. In addition, please check out our hedge fund investor letters Q3 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.
