5 Best Software Stocks To Buy According To Hedge Funds

01. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders as of Q2, 2022: 258

Topping the list is Microsoft Corporation (NASDAQ:MSFT), one of the world’s largest technology companies. On October 14, Morgan Stanley analyst Keith Weiss lowered his price target on Microsoft Corporation (NASDAQ:MSFT) to $325 from $354 and kept an Overweight rating on the shares. Given the weaker PC demand environment and rising foreign exchange headwinds, he has reduced his revenue forecast for fiscal Q1 by 1% and for FY23 by a little over 2% ahead of earnings.

A total of 258 out of the 895 hedge funds tracked by Insider Monkey had bought Microsoft Corporation (NASDAQ:MSFT) shares during Q2, 2022. Out of these, Ken Fisher’s Fisher Asset Management is Microsoft Corporation (NASDAQ:MSFT) largest investor. It owns 28 million shares that are worth $7.3 billion.

Lakehouse Capital mentioned the company in its Q3 2022 investor letter. Here is what the fund said:

“During the month, the Fund initiated a new position in Microsoft Corporation (NASDAQ:MSFT), a name that is no doubt familiar to our investors. The company was founded by Bill Gates and Paul Allen in a friend’s garage in 1975 and began dominating the operating system market with MS-DOS by the mid-1980s. The company has come a long way since then and is now widely considered the most critical and indispensable IT mega-vendor for businesses globally. In addition to its well-known Windows operating systems and Office productivity suite, the company has a broad portfolio of strategic products, including a rapidly growing public cloud business in Azure and a sizeable gaming presence.”

You can also take a peek at the 10 Best Fast Money Stocks To Buy Now and the 10 Most Valuable Internet Companies Today.

Follow Insider Monkey on Twitter