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Polen Capital Sells Oracle (ORCL), Citing ‘Little To No Revenue Growth’
Polen Capital Management, a value-driven, concentrated, long-term investment management firm, published its ‘Polen Global Growth’ fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 7.70% was recorded by the fund for the Q4 of 2020, below its MSCI All-Country World benchmark that delivered a 14.69% return. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Polen Global Growth, in their Q4 2020 Investor Letter, said that they already sold their positions in Oracle Corporation (NYSE: ORCL) because of insufficient growth of the company. Oracle Corporation is a database software, and technology provider company that currently has a $187.2 billion market cap. For the past 3 months, ORCL delivered an 11.97% return and settled at $63.60 per share at the closing of February 5th.
Looking For The Best Software Stocks To Buy Now? 3 Names To Consider
Software stocks witnessed robust growth in the stock market this year. Understandably, software has become a fundamental medium for a lot of things to function. This is because the coronavirus pandemic forced companies to boost corporate spending on digital acceleration. Because of this, many of the top software stocks are seeing their best year on the stock market. Key sectors of interest include enterprise software-as-a-service (SaaS), cloud computing, and cybersecurity. All of them optimize the way we work in the digital space.
Companies that facilitate and streamline work operations, in particular, have flourished. Slack (WORK Stock Report) and ServiceNow (NOW Stock Report) are prime examples of this. Their share prices have more than doubled since the March lows. On one hand, Slack provides a means of communicating with co-workers which is paramount when working on projects. On the other, ServiceNow provides