Conestoga Capital Advisors, an asset management company, released its “SMid Cap Growth Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Conestoga SMid Cap Growth Composite rose 10.01% net of fees in the first quarter, compared to the Russell 2500 Growth Index’s 6.54% return. Both sector allocation and stock selection contributed positively to the performance of the fund in the quarter. The strategy also benefited from the market rotation. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga SMid Cap Growth Strategy highlighted stocks like Fair Isaac Corporation (NYSE:FICO) in the first 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 May 26, 2023, Fair Isaac Corporation (NYSE:FICO) stock closed at $791.62 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was 8.75%, and its shares gained 92.65% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $19.785 billion.
Conestoga SMid Cap Growth Strategy made the following comment about Fair Isaac Corporation (NYSE:FICO) in its Q1 2023 investor letter:
“Fair Isaac Corporation (NYSE:FICO) is a leader in predictive analytics and decision management software and is also the provider of FICO credit scores. FICO reported results which slightly beat consensus expectations for revenue and earnings-per-share, while reiterating fiscal 2023 guidance. In addition, in early March it was announced that Fair Isaac would be added to the S&P 500 Index. We remain positive on the shares, especially given the company’s dominant market share, significant pricing power, and shareholder friendly capital allocation strategy.”
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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 Richie Capital Group’s views on the company. In addition, please check out our hedge fund investor letters Q1 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.
