In the early 1990s, Select Equity Group was founded. As of Q3 2021, the fund has $43.9 billion in discretionary assets under management. It was founded on the premise that long-term investments based on thorough research would yield high profits. After reducing its stake in GoDaddy, Cincinnati Financial and Signet Jewelers, Select Equity Group’s top buys for the third quarter were Coupa Software Incorporated and PowerSchool Holding.
Insider Monkey highlights 10 tech stocks to buy according to Select Equity Group. During the third quarter of 2021, the hedge fund invested $238 million in PowerSchool Holdings, Inc., purchasing 9.6 million shares. A total of $148.95 million in revenue was generated in the third quarter, which surpassed forecasts by $6.5 million. Software, hardware, and services company Trimble Inc. helps customers in the construction, agriculture, geospatial services, utilities, government and transportation sectors. For the first time, Microsoft Azure will power Trimble’s construction solutions. When it comes to Visa Inc., Select Equity Group bought 1.20 million shares for $269.2 million in the third quarter of 2021 after increasing its position by 65 percent. On December 7th, shareholders of record on November 12th received their dividends. Select Equity Group has added Coupa Software Inc. to its Q3 portfolio. It has 1.39 million shares of the company, worth $306.3 million, which represents 1.02 percent of the hedge fund’s investments. Select Equity Group’s top tech stock pick is Everbridge, Inc. Shares owned by the hedge fund total 3.80 million, which is valued at $574 million. On December 9, CEO David Meredith unexpectedly resigned, and the following day, the stock dropped 45 percent. For more details, click 10 Tech Stocks To Buy According To Select Equity Group.