In this article, we will take a look at the 5 best performing cybersecurity stocks in 2022. You can skip this part and go to 12 Best Performing Cybersecurity Stocks in 2022.
5. Micro Focus International plc (NYSE:MFGP)
Performance in 2022: +16%
Micro Focus International plc (NYSE:MFGP) is a UK-based company that offers consultancy and software services related to cybersecurity. Micro Focus International plc (NYSE:MFGP) gained 16% in 2022. Last year, OpenText said it will buy Micro Focus International plc (NYSE:MFGP) for $6 billion.
4. Amdocs Limited (NYSE:DOX)
Performance in 2022: +18%
Amdocs Limited (NYSE:DOX) is a software company that also offers cybersecurity solutions related to attack simulation, security consulting and threat analysis. Amdocs Limited (NYSE:DOX) gained about 18% in 2022. As of the end of the third quarter, 18 hedge funds reported having stakes in Amdocs Limited (NYSE:DOX). The total value of these stakes was $873 million.
Palm Valley Capital made the following comment about Amdocs Limited (NASDAQ:DOX) in its Q4 2022 investor letter:
“For the full calendar year, the Fund’s top performers were Coterra Energy (ticker: CTRA), Amdocs Limited (NASDAQ:DOX), and Alamos Gold. Coterra’s stock rose sharply along with energy prices at the beginning of 2022. Amdocs delivered record operating results during the year and demonstrated the strength of its market position serving the world’s leading communication service providers. All the Fund’s precious metals holdings, led by Alamos, contributed positively to performance in 2022, with a 1% collective contribution from gold and silver equities. We think this was a good outcome relative to gold and silver prices that ended the year essentially flat, after a summer swoon. Additionally, precious metals miners were down, on average, in 2022.”
3. Booz Allen Hamilton Holding Corporation (NYSE:BAH)
Performance in 2022: +20%
Booz Allen Hamilton Holding Corporation (NYSE:BAH) is one of the most important government contractors which provide a variety of cybersecurity and threat analysis solutions. Booz Allen Hamilton Holding Corporation (NYSE:BAH) gained about 20% in 2022, outperforming the market by a huge margin.
As of the end of the September quarter, 32 hedge funds tracked by Insider Monkey reported having stakes in Booz Allen Hamilton Holding Corporation (NYSE:BAH). The total value of these stakes is $371 million. The biggest stakeholder of Booz Allen Hamilton Holding Corporation (NYSE:BAH) was Phill Gross and Robert Atchinson’s Adage Capital Management, which had a $48.4 million stake in Booz Allen Hamilton Holding Corporation (NYSE:BAH).
Booz Allen Hamilton Holding Corporation (NYSE:BAH) is also a dividend-paying stock. Back in October, Booz Allen Hamilton Holding Corporation (NYSE:BAH) declared a dividend of $0.43 per share, in line with the previous. Forward dividend yield at the time came in at 1.6%.
2. Calix, Inc. (NYSE:CALX)
Performance in 2022: +40%
Calix, Inc. (NYSE:CALX) is a telecom and IT company which is known for its security system especially designed to protect smart homes from external attacks and hacking attempts. The system is called ProtectIQ. Calix, Inc. (NYSE:CALX) won 2022 Global InfoSec Award for the “Best in Anti-Phishing, Network Security & Management” category with ProtectIQ.
In October 2022, Calix, Inc. (NYSE:CALX) jumped after the company posted a 28% increase in Calix Marketing Cloud customers on a year-over-year basis. Calix, Inc. (NYSE:CALX) said that Q3 was a record quarter for its EXOS platform as its revenue jumped 81% on a YoY basis.
A total of 24 hedge funds tracked by Insider Monkey reported having stakes in Calix, Inc. (NYSE:CALX) as of the end of the September quarter. The total value of these stakes was $451 million.
For the fourth quarter of 2022, Calix, Inc. (NYSE:CALX) said it expects its revenue to total between $237 million – $243 million vs. consensus of $220.9 million.
Carillon Tower Advisers made the following comment about Calix, Inc. (NYSE:CALX) in its Q3 2022 investor letter:
“Another strong performer during Q3 was Calix, Inc. (NYSE:CALX). Calix stock rebounded sharply in the quarter after reporting stellar earnings. They offer next-gen fiber broadband solutions to telecommunication companies primarily for rural markets. The broadband buildout in rural markets is still in the early innings, and the company’s subscription model offers great visibility going forward.”
1. ForgeRock, Inc. (NYSE:FORG)
Performance in 2022: +45%
ForgeRock, Inc. (NYSE:FORG) is operating in one of the biggest subsectors of the cybersecurity domain: identity and access management. ForgeRock, Inc. (NYSE:FORG)’s platform is used by hundreds of organizations for access management, identity management and related solutions. In October last year, private equity firm Thoma Bravo announced to acquire ForgeRock, Inc. (NYSE:FORG) for about $2.3 billion.
As of the end of September 2022, 9 hedge funds had stakes in ForgeRock, Inc. (NYSE:FORG), compared to 8 funds in the second quarter.
Here is what Baron Discovery Fund has to say about ForgeRock, Inc. (NYSE:FORG) in its Q4 2021 investor letter:
“In the fourth quarter, the Fund was down 3.13% versus the Russell 2000 Growth Index, which was roughly unchanged. For the full-year 2021, the Fund was up 4.89% and beat the 2.83% return of the Russell 2000 Growth Index by 2.06%. The lion’s share of the underperformance in the fourth quarter was due to stock selection in the Information Technology (IT) and Health Care sectors. In IT, there was a fairly even spread of winners and losers for the quarter, though IPO profit taking affected ForgeRock, Inc. (NYSE:FORG) after big third quarter gains.”
You can also take a peek at 15 Largest Plastic Manufacturing Companies in the World and 14 Countries Where Official Language is English.
