5 Best Software Stocks To Invest In According To Hedge Funds

In this piece, we will take a look at the five best software stocks to invest in according to hedge funds. For more stocks, head on over the 13 Best Software Stocks To Invest In According To Hedge Funds.

5. ServiceNow, Inc. (NYSE:NOW)

Number of Hedge Fund Holders in Q4 2022: 97

ServiceNow, Inc. (NYSE:NOW) is a cloud computing platform provider that lets firms run artificial intelligence, analytics, and other tools on their data. It is headquartered in Santa Clara, California.

ServiceNow, Inc. (NYSE:NOW) teamed up with AT&T in March 2023 to develop a solution that lets communications providers manage their 5G platforms. 97 of the 943 hedge funds had bought the firm’s shares in Q4 2022 according to Insider Monkey’s research.

ServiceNow, Inc. (NYSE:NOW)’s largest investor in our database is Ken Fisher’s Fisher Asset Management which owns 1.3 million shares that are worth $508 million.

4. Adobe Inc. (NYSE:ADBE)

Number of Hedge Fund Holders in Q4 2022: 99

Adobe Inc. (NYSE:ADBE) is an American software company with different productivity products allowing designers and other professionals to work. It is based in San Jose, California.

Adobe Inc. (NYSE:ADBE) made a heartwarming announcement in March 2023 when its chief people’s officer stated to Bloomberg that the firm will not conduct any layoffs this year. Out of the 943 hedge funds part of Insider Monkey’s database, 99 owned a stake in the company in 2022’s final quarter.

Adobe Inc. (NYSE:ADBE)’s largest investor is Ken Fisher’s Fisher Asset Management which owns five million shares that are worth $1.7 billion.

3. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders in Q4 2022: 117

Salesforce, Inc. (NYSE:CRM) is a customer relationship software product provider enabling companies to communicate with their customers, run campaigns, and analyze data. It is based in San Francisco, California.

Salesforce, Inc. (NYSE:CRM) joined the current hype surrounding artificial intelligence as it announced in March 2023 that it is setting up a $250 million fund for AI startups. By the end of last year’s fourth quarter, 117 of the 943 hedge funds polled by Insider Monkey had bought the firm’s shares.

Salesforce, Inc. (NYSE:CRM)’s largest hedge fund investor is Ken Fisher’s Fisher Asset Management which owns 13 million shares that are worth $1.8 billion.

2. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders in Q4 2022: 152

Alphabet Inc. (NASDAQ:GOOG) is one of the biggest technology companies in the world with both mobile operating systems and cloud computing software divisions. It is based in Mountain View, California.

Alphabet Inc. (NASDAQ:GOOG)’s Android mobile operating system is the most popular product of its kind globally since it has an estimated 3.3 billion users. 152 of the 943 hedge funds part of Insider Monkey’s database had invested in the firm in Q4 2022.

Chris Hohn’s TCI Fund Management is Alphabet Inc. (NASDAQ:GOOG)’s largest shareholder with a $4.8 billion stake that comes via 54 million shares.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders in Q4 2022: 259

Microsoft Corporation (NASDAQ:MSFT) is one of the biggest technology firms in the world whose business model is built on software production. It is headquartered in Redmond, Washington.

Microsoft Corporation (NASDAQ:MSFT)’s Windows operation system has the largest user base in the world, with Windows 10 and Windows 11 having 1.4 billion users as of March 2023. By the end of 2022’s December quarter, 259 of the 943 hedge funds surveyed by Insider Monkey had owned a stake in the company.

Out of these, Michael Larson’s Bill & Melinda Gates Foundation Trust is Microsoft Corporation (NASDAQ:MSFT)’s largest investor through a $9.4 billion stake that comes via 39 million shares.

Disclosure: None. You can also take a look at 25 Strongest Countries in Europe by Military Power and 15 Biggest Retirement Communities in the World.

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