TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare Capital highlighted stocks like Aspen Technology, Inc. (NASDAQ:AZPN) in the Q3 2022 investor letter. Headquartered in Bedford, Massachusetts, Aspen Technology, Inc. (NASDAQ:AZPN) is a software technology company focusing on industrial automation. On December 23, 2022, Aspen Technology, Inc. (NASDAQ:AZPN) stock closed at $202.21 per share. One-month return of Aspen Technology, Inc. (NASDAQ:AZPN) was -17.02% and its shares lost 8.98% of their value in three months. Aspen Technology, Inc. (NASDAQ:AZPN) has a market capitalization of $13.051 billion.
TimesSquare Capital made the following comment about Aspen Technology, Inc. (NASDAQ:AZPN) in its Q3 2022 investor letter:
“A new addition to the sector this quarter is Aspen Technology, Inc. (NASDAQ:AZPN), which offers enterprise asset performance management, monitoring, and optimization solutions. The company continues to see improvement in the demand environment and is not seeing any impact from the macro-related slowdown. Management also noted they are making good progress with the Emerson integration. The acquisition of Micromine further diversifies their end-market exposure into the metals and mining industry.”
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Aspen Technology, Inc. (NASDAQ:AZPN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Aspen Technology, Inc. (NASDAQ:AZPN) at the end of the third quarter, which was 18 in the previous quarter.
We discussed Aspen Technology, Inc. (NASDAQ:AZPN) in another article and shared ClearBridge Investments’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.