In this article, we will discuss the preferred stocks of Kevin Oram’s Praesidium Investment: ServiceNow, Wix, etc.If you want to skip our detailed analysis of Oram’s history, investment philosophy and hedge fund performance, please go directly Kevin Oram’s Praesidium Investment selects the top 5 stocks.
Kevin Oram is the managing partner and co-founder of Praesidium Investment Management Company, managing a portfolio valued at more than $1.87 billion. Under Oram’s investment strategy, the portfolio has grown by 0.97% this year. Praesidium Investment is an investment management company that provides investment portfolio management, financial planning and investment consulting services to trusts, institutions and private clients in the United States.
Praesidium Investment Management Company has long-term holdings of 12-15 listed companies. The company invests in stocks that are usually undervalued and not sought after by most investors. Then, they work with company management to optimize value for all stakeholders.
Before serving as the co-founder and managing partner of Praesidium Investment, Kevin Oram worked at Sanford C. Bernstein held multiple positions from 1991 to 2003, including partner, senior vice president, and head of the global technology equity investment department. In addition to being an expert in technology investment, Oram has also managed hedge funds in the paper, gaming, hotel, restaurant, and food industries. In the second quarter of 2021, technology stocks accounted for approximately 55% of Oram’s investment portfolio, indicating the hedge fund’s strong interest in the technology industry.
Some well-known technology stocks in Praesidium Investment Management’s second quarter 2021 portfolio include Wix.com Ltd (NYSE: WIX), ServiceNow Inc. (NYSE: NOW), and Workiva Inc. (New York Stock Exchange: NOW). Exchange code: WK), and other stocks discussed in detail below.
The dynamic financial landscape puts the entire hedge fund industry on the fringe. When the hedged returns cannot keep up with the unhedged returns of the market index, investors will suffer losses. However, Insider Monkey’s research was able to determine in advance a select set of hedge fund holdings that have outperformed the S&P 500 ETF by more than 86 percentage points since March 2017. From March 2017 to July 2021, the return on selected stocks in our monthly newsletter was 186.1%, compared with SPY’s 100.1%. Our stock picks outperformed the market by more than 86 percentage points (See details here). This is why we believe that hedge fund sentiment is a very useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
Our methodology
With this in mind, here are some of the stocks of choice for Kevin Oram’s Praesidium Investment Management Company. We use Praesidium Investment’s 13F portfolio for the second quarter of 2021 to rank these stocks. The list is compiled based on the value of each holding in the portfolio.
The analyst ratings of each company are also discussed in order to provide readers with more background information on their investment decisions. Hedge fund sentiment for each stock is measured using data from 873 hedge funds tracked by Insider Monkey.
Praesidium Investment Featured Stocks by Kevin Oram: ServiceNow, Wix, etc.
10. Wix.com Ltd (New York Stock Exchange code: WIX)
Value of Oram’s shares: $78,185,000
Percentage of Oram 13F portfolio: 4.17%
Number of hedge fund holders: 35
Our tenth stock on Kevin Oram’s Praesidium Investment preferred stock list is Wix.com Ltd (NYSE: WIX), which provides a cloud-based platform that facilitates the creation of websites and web applications. Wix.com Ltd (NYSE: WIX) was established in 2006 in Tel Aviv, Israel, and has more than 200 million users worldwide who use the platform to enhance their online image.
Oram’s Praesidium Investment owns 269,343 shares of Wix.com Ltd (NYSE: WIX), valued at US$78.18 million, representing 4.17% of Oram’s 13F portfolio. By the end of the second quarter of 2021, 35 hedge funds in the Insider Monkey database hold shares of Wix.com Ltd (NYSE: WIX), with a total value of US$1.38 billion, lower than the 40 in the previous quarter , The value of the shares exceeds 1.46 billion U.S. dollars. The company announced on August 11 that its earnings per share for the previous quarter were-$0.28, which was $0.13 higher than analysts’ consensus estimate of-$0.41.
In the investor letter for the fourth quarter of 2020, Baron Funds mentioned Wix.com Ltd (NYSE: WIX). here They said this:
“The weakness in IT is mainly due to the decline in the share price of Wix.com Ltd, a network software company. After doubling in the first three quarters of 2020, Wix’s share price fell slightly because of concerns that its business would benefit from the increase in website creation during the pandemic. It can eventually be alleviated.”
9. Taylor Technologies (NYSE: TYL)
Value of Oram’s shares: $105,309,000
Percentage of Oram 13F portfolio: 5.61%
Number of hedge fund holders: 33
The ninth stock on our list The stock of choice for Kevin Oram’s Praesidium Investment is Tyler Technologies Inc. (NYSE: TYL), which is one of the largest software providers in the U.S. public sector. The Texas-based software company was founded in 1966 and provides services in 26 locations in the United States and Canada.
Oram’s Praesidium Investment owns 232,974 shares of Tyler Technologies Inc. (NYSE: TYL), valued at US$105.3 million, representing 5.61% of Oram’s 13F portfolio. By the end of the second quarter of 2021, 33 hedge funds in the Insider Monkey database hold shares of Tyler Technologies Inc. (NYSE: TYL), with a total value of US$731 million, higher than the 28 in the previous quarter , The value of its holdings exceeds 522.8 million U.S. dollars. The company’s earnings per share for the previous quarter announced on July 28 were US$1.83, which was US$0.22 higher than analysts’ consensus estimate of US$1.61.
Like Wix.com Ltd (NYSE: WIX), ServiceNow Inc. (NYSE: NOW) and Workiva Inc. (NYSE: WK), Tyler Technologies Inc. (NYSE: WK) (Stock code: TYL) is one of Praesidium Investment’s most eye-catching stock folders in the second quarter.
Polen Capital mentioned Tyler Technologies Inc. (NYSE: TYL) in its investor letter for the first quarter of 2021. here They said this:
“We joined Tyler Technologies because we are excited about their announcement of the acquisition of NIC Inc. NIC is a provider of digital solutions for public entities. The company provides large-scale payment processing businesses and provides services to state and local governments. Complement Tyler’s existing business. NIC is a company our team has followed for many years. We believe that the merger of the two companies will be a change for Taylor. In addition, we believe that this acquisition will open up many opportunities under Taylor’s leadership , And these opportunities are difficult to obtain when the NIC is independent.”
8. Primo Water Corporation (NYSE code: PRMW)
Value of Oram’s shares: US$118,917,000
Percentage of Oram 13F portfolio: 6.34%
Number of hedge fund holders: 24
Primo Water Corporation (NYSE: PRMW) is the eighth stock on our list Kevin Oram’s Praesidium Investment select stocks. Primo Water Corporation (NYSE: PRMW) provides bottled water, drinking fountains and water filtration equipment. The company was founded in 1952 and is headquartered in Florida, with residential and commercial customers in the United States, Canada, Europe, and Israel.
Oram’s Praesidium Investment owns approximately 7.1 million shares of Primo Water Corporation (NYSE: PRMW), valued at US$118.92 million, which represents 6.34% of Oram’s 13F portfolio. By the end of the second quarter of 2021, 24 hedge funds in the Insider Monkey database hold shares of Primo Water Corporation (NYSE: PRMW), with a total value of US$687.3 million, which is higher than the 32 in the previous quarter. The value of the holdings exceeds 654.3 million U.S. dollars. The company’s earnings per share for the previous quarter announced on August 5 were US$0.17, which was US$0.06 higher than analysts’ consensus estimate of US$0.11.
Like Wix.com Ltd (NYSE: WIX), ServiceNow Inc. (NYSE: NOW) and Workiva Inc. (NYSE: WK), Primo Water Corporation (NYSE: WK) Code: PRMW) is one of the most famous stocks in Praesidium Investment’s second quarter portfolio.
7. Workiva Inc. (New York Stock Exchange code: WK)
Value of Oram’s shares: $122,930,000
Percentage of Oram 13F portfolio: 6.55%
Number of hedge fund holders: 21
The seventh stock on our list Kevin Oram’s Praesidium Investment’s preferred stock is Workiva Inc. (NYSE: WK), a SaaS company headquartered in Iowa, USA, which provides cloud computing services to customers around the world.
Oram’s Praesidium Investment owns approximately 1.1 million shares of Workiva Inc. (NYSE: WK), valued at US$122.9 million, representing 6.55% of Oram’s 13F portfolio. By the end of the second quarter of 2021, 21 hedge funds in the Insider Monkey database hold shares of Workiva Inc. (NYSE: WK), with a total value of US$505.5 million, higher than the 28 in the previous quarter. The value of the holdings exceeds US$438.7 million.
In the investor letter for the second quarter of 2021, Artisan Partners mentioned Workiva Inc. (NYSE: WK). here They said this:
“Workiva is a global provider of cloud-based financial reporting and compliance solutions. For reporting and compliance purposes, compiling data from different and unconnected systems in various departments within an organization is an incredibly manual process The ever-changing regulatory environment over the past decade has not only made this more and more onerous, it also requires further management oversight. Workiva’s solution aggregates this data, allowing the company to improve the efficiency and visibility of the regulatory reporting process. In addition, In addition to this strong value proposition, we believe that organizations are still on the cusp of shifting their software spending from the front office to the back office, especially in the CFO office. The shift to remote work during the pandemic highlights the need to keep these workflows up-to-date. We also believe that the company’s expanded product capabilities-now beyond its core SEC reporting capabilities-will bring more use cases to new and existing customers, and provide Workiva with numerous new growth opportunities in the future. “
6. Copart Inc. (NASDAQ: CPRT)
Value of Oram’s shares: $130,811,000
Percentage of Oram 13F portfolio: 6.97%
Number of hedge fund holders: 44
The sixth stock on our list Kevin Oram’s Praesidium Investment’s preferred stock is Copart Inc. (NASDAQ: CPRT), a supplier that provides online auto auction and remarketing services in 11 countries including the United States, Canada, the United Kingdom, and Germany business. Copart Inc. (NASDAQ: CPRT) is headquartered in Dallas, Texas, and has warehouses in more than 200 locations around the world to store vehicle inventory.
Oram’s Praesidium Investment owns 992,272 shares of Copart Inc. (NASDAQ: CPRT), valued at US$130.8 million, representing 6.97% of Oram’s 13F portfolio. By the end of the second quarter of 2021, 44 hedge funds in the Insider Monkey database held Copart Inc. (CPRT) shares with a total value of US$992.3 million, up from 49 in the previous quarter, with a shareholding value of more than 966.7 million Dollar.
Like Wix.com Ltd (NYSE: WIX), ServiceNow Inc. (NYSE: NOW) and Workiva Inc. (NYSE: WK), Copart Inc. (NASDAQ) (Stock code: CPRT) is one of the most famous stocks in Praesidium Investment’s second quarter portfolio.
Merion Road Capital Management mentioned Copart Inc. (NASDAQ: CPRT) in its investor letter for the second quarter of 2021. here They said this:
“Many of our companies reported very strong earnings in April. The market is dismissive of these when considering the magnitude of sustainable growth, whether the inflation trend is short-lived, and when interest rates will rise. Although the broader economic recovery slows down. Damage to our investment portfolio, but I remain optimistic about our position market positioning and long-term trends.
For example, Copart reported that revenue increased by 33% year-on-year, and EBIT margin expanded to 45%, a record high. Although the company has benefited from inflation (an interesting hedge was largely ignored by the market earlier this year), the sustainable growth of ASPs and service products heralds growth in revenue per vehicle. Management pointed out that because the non-US market is a few months behind the US in terms of reopening and vaccination, traffic still dropped by 20% or more. This increase in sales should provide a good tailwind in the coming months. “
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Disclosure: None. Praesidium Investment Featured Stocks by Kevin Oram: ServiceNow, Wix, etc. Originally published in Insider Monkey.
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