Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks experienced a notable improvement in the third quarter after incurring losses in the second quarter. The Russell Midcap Growth Index (up 6.54%) underperformed the Russell Midcap Value Index (up 10.08%) during the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Fair Isaac Corporation (NYSE:FICO), in the third quarter 2024 investor letter. Fair Isaac Corporation (NYSE:FICO) develops analytic, software, and digital decision-making technologies and services. The one-month return of Fair Isaac Corporation (NYSE:FICO) was 16.89%, and its shares gained 118.58% of their value over the last 52 weeks. On November 21, 2024, Fair Isaac Corporation (NYSE:FICO) stock closed at $2,337.83 per share with a market capitalization of $56.921 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Fair Isaac Corporation (NYSE:FICO) in its Q3 2024 investor letter:
“Fair Isaac Corporation (NYSE:FICO) provides predictive analytics and data management products and services that enable businesses to automate, improve and connect decisions. The stock performed well during the period as quarterly earnings were strong and guidance was lifted. The quarter was highlighted by continued pricing gains in the company’s Scores business. Additionally, expectations of increased residential mortgage activity as interest rates move lower also aided the stock.”
A hands-on approach: technicians working on data management products in an open lab space.
Fair Isaac Corporation (NYSE:FICO) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Fair Isaac Corporation (NYSE:FICO) at the end of the third quarter which was 42 in the previous quarter. In the third quarter, Fair Isaac Corporation (NYSE:FICO) reported fiscal fourth quarter revenues of $454 million, up 16% over last year. While we acknowledge the potential of Fair Isaac Corporation (NYSE:FICO) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Baron Asset Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.