Investment management company Ave Maria recently released its “Ave Maria Rising Dividend Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund returned 10.23% compared to the S&P 500® Dividend Aristocrats Index’s 11.74% return and the S&P 500 Index’s 5.89% return. During the quarter, the Fund’s strongest performing sectors were Real Estate, Financials, and Health Care. You can check the fund’s top 5 holdings for its best picks for 2024.
Ave Maria Rising Dividend Fund highlighted stocks like SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the third quarter 2024 investor letter. Headquartered in Windsor, Connecticut, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is a software products and software-enabled services provider to the financial and healthcare sectors. The one-month return of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was 9.27%, and its shares gained 38.14% of their value over the last 52 weeks. On November 27, 2024, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) stock closed at $77.36 per share with a market capitalization of $19.161 billion.
Ave Maria Rising Dividend Fund stated the following regarding SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in its Q3 2024 investor letter:
“In the third quarter, the Fund liquidated its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC), a provider of application software for financial services. The company specializes in software solutions that facilitate trading, modeling, portfolio management, reporting, and various back-office functions. The decision to sell this holding was based on the assessment that its market value had surpassed our best estimate of the company’s fair value.”
A financial advisor providing consultation to a client to help manage their portfolio.
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) at the end of the third quarter which was 41 in the previous quarter. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) reported adjusted revenue of $1,466.8 million in the third quarter, representing an increase of 7.3% from Q3 2023. While we acknowledge the potential of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) 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 SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) and shared the list of best mid-cap growth stocks to buy. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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.