Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund delivered a return of 3.96% net of fees (4.11% gross of fees) trailing the Russell 2000 Index’s 5.18% total return. Security selection detracted from the performance while allocation effects positively contributed. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Aristotle Capital Small Cap Equity Strategy highlighted stocks like PowerSchool Holdings, Inc. (NYSE:PWSC), in the first quarter 2024 investor letter. PowerSchool Holdings, Inc. (NYSE:PWSC) is a cloud-based software provider to the K-12 education market, with a market capitalization of $3.479 billion. The one-month return of PowerSchool Holdings, Inc. (NYSE:PWSC) was 19.29%, and its shares gained 15.42% of their value over the last 52 weeks. On May 24, 2024, PowerSchool Holdings, Inc. (NYSE:PWSC) stock closed at $20.96 per share.
Aristotle Capital Small Cap Equity Strategy stated the following regarding PowerSchool Holdings, Inc. (NYSE:PWSC) in its first quarter 2024 investor letter:
“PowerSchool Holdings, Inc. (NYSE:PWSC), a leading provider of cloud-based software for K-12 education in North America, was added to the portfolio. Overall, we believe the company stands to benefit from the growing demand for digital education solutions, an increased need for efficiency in school operations, and a favorable funding environment. Moreover, we believe the company’s ability to innovate and adapt to the evolving needs of the education sector while expanding its capabilities and solutions should result in up-sell opportunities that can further create value for their customers and shareholders.”
Educators teaching students in a traditional classroom setting.
PowerSchool Holdings, Inc. (NYSE:PWSC) has reported a strong start to the year in 2024, delivering a revenue of $185 million, in the first quarter, marking a 16% year-over-year increase. PowerSchool Holdings, Inc. (NYSE:PWSC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held PowerSchool Holdings, Inc. (NYSE:PWSC) at the end of the first quarter which was 9 in the previous quarter.
In another article, we discussed PowerSchool Holdings, Inc. (NYSE:PWSC) and shared the list of oversold midcap stocks to buy. Wasatch Core Growth Fund added PowerSchool Holdings, Inc. (NYSE:PWSC) to its portfolio in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.
