Top 10 Holdings of Engaged Capital

4. NCR Voyix Corporation (NYSE:VYX)

Engaged Capital’s Equity Stakes: $73.71 Million

Number of Hedge Fund Holders: 41

NCR Voyix Corporation (NYSE:VYX) is Engaged Capital’s biggest holding in the technology sector, offering exposure to the provision of various software and services. The company provides software services, hardware, and digital banking solutions for financial institutions.

NCR Voyix Corporation (NYSE:VYX) delivered solid Q1 2024 financial results, with earnings per share at $0.13 against the $0.03 a share that analysts expected. Revenues topped $862 million, above the $856.55 million expected.

A total of 41 hedge funds tracked by Insider Monkey held stakes in NCR Voyix Corporation (NYSE:VYX) in Q1 2024, up from 40 as of Q4 2023.

ClearBridge Mid Cap Strategy stated the following regarding NCR Voyix Corporation (NYSE:VYX) in its first quarter 2024 investor letter:

“Stock selection in the IT sector also weighed on performance. Investor excitement for AI has driven outperformance in Hypergrowth companies but weighed on several of our holdings with more conservative outlooks, which are typically appropriate this early in the year. This included NCR Voyix Corporation (NYSE:VYX), which provides software, consulting and technology services for digital commerce and automatic teller machines (ATMs). Under new direction since the spinoff of NCR Atleos in the fourth quarter of 2023, the stock is still looking for solidification of its investor base. However, we are encouraged by the company’s focus on recurring revenue streams, which should allow it to grow at an attractive pace. Additionally, we believe that NCR Voyix’s current valuation is approximately equivalent to the value of its digital banking segment alone, which should merit further upward price movement.”