5 Best Slow Growth Stocks to Buy According to Hedge Funds

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 137    

Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services. It is one of the elite growth stocks to invest in. On October 20, Mastercard noted the expansion of its partnership with Jack Henry, a payment processing service provider and technology company, to enable banks and credit unions to provide their account holders with the ability to securely see all of their financial accounts in one place. 

On October 19, Jefferies analyst Trevor Williams maintained a Buy rating on Mastercard Incorporated (NYSE:MA) stock and lowered the price target to $350 from $410, noting that the company expects a bigger Q3 beat.

At the end of the second quarter of 2022, 137 hedge funds in the database of Insider Monkey held stakes worth $14.99 billion in Mastercard Incorporated (NYSE:MA), compared to 136 in the previous quarter worth $15.4 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them. Here is what the fund said:

“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Mastercard Incorporated (NYSE:MA) added the most value. These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”