5 Best Software Stocks to Buy Now According to Coatue Management’s 13F Portfolio

In this piece, we will take a look at the 5 best software stocks to buy now according to Coatue Management’s 13F portfolio. If you want to read our overview of Coatue Management’s 13F Portfolio, then you can take a look at the 15 Best Software Stocks to Buy Now According to Coatue Management’s 13F Portfolio.

5. Oracle Corp (NYSE:ORCL)

Number of Hedge Fund Holders: 88
Coatue Management’s Equity Stake: $236.85 Million

Oracle Corporation (NYSE:ORCL) provides IT solutions and cloud software, such as Oracle Fusion ERP and EPM. Oracle Corporation (NYSE:ORCL) is billed as one of the largest database software companies that has transformed lots of its software into cloud-based services. 

While the stock is up by about 29% for the year, it’s proved to be a top pick for investors eying passive income. In the year’s first half, it bought $600 million worth of shares and returned $2.2 billion in dividends. It is also one of the best software stocks to buy now according to Coatue Management. The hedge fund held stakes worth $236.85 million in Oracle Corporation (NYSE:ORCL) as of Q3 2023.

Insider Monkey found out that 88 hedge funds had stakes in the firm after examining 910 hedge funds’ shareholdings for Q3 2023. Oracle Corporation (NYSE:ORCL)’s most significant investor in our database is Ken Fisher’s Fisher Asset Management as it owns $1.99 billion worth of shares.

Here is what Aristotle Atlantic Core Equity Strategy said about Oracle Corporation (NYSE:ORCL) in its third quarter 2023 investor letter:

“Oracle Corporation (NYSE:ORCL) provides products and services that address enterprise information technology (IT) environments. The company’s products and services include enterprise applications and infrastructure offerings that are delivered worldwide through a variety of flexible and interoperable IT deployment models. The company operates in three segments: cloud and license business, hardware, and services.

We believe Oracle’s cloud infrastructure product, OCI 2.0, continues to demonstrate strong revenue growth over several quarters. Additionally, we see the rapid growth of artificial intelligence (AI) computing needs as being a differentiated growth driver for Oracle. We believe that Oracle will continue to drive positive outcomes for the Cerner business through a better margin structure, as well as topline sales synergies.”

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