Conestoga Capital Advisors
Conestoga
Mid-cap
Dec 2024 → Sep 2025
Our archive holds 3 letters from this strategy, behind 7 investment theses and positions in 31 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in 2 years · follow all of Conestoga Capital Advisors for every strategy.
What it bought and sold
With near-term headwinds outweighing long-term potential, we decided to sell the stock.
Also held
- Generac Holdings, Inc.
- Construction Partners, Inc.
- Casella Waste Systems, Inc.
- Guidewire Software, Inc.
- Helios Technologies, Inc.
- Novanta, Inc.
- Q2 Holdings, Inc.
- West Pharmaceutical Services, Inc.
- SPS Commerce, Inc.
- Descartes Systems Group, Inc.
- Mirion Technologies, Inc.
- Veeva Systems Inc.
- Vertex, Inc.
- Fortinet, Inc.
- Hillman Solutions Corp.
- CoStar Group, Inc.
- IDEXX Laboratories, Inc.
- Mercury Systems, Inc.
- Gartner, Inc.
- AAON, Inc.
- Tyler Technologies, Inc.
- Copart, Inc.
- Jack Henry & Associates, Inc.
Its investment theses
- Crane NXT Co.Dec 2024Crane NXT Co. is a leading provider of trusted technology solutions for securing and authenticating assets, with a strong history and expected double-digit EBITDA growth.
- KadantDec 2024Kadant, Inc. is a leading supplier of engineered parts for critical industries, with a strong market position, consistent recurring revenue, and a management team known for delivering long-term above-market returns.
- N-ableDec 2024N-able’s strong recurring revenue model and expanding market position it well for long-term growth in IT security and cloud services
- nCino, Inc.Dec 2024nCino, Inc. is a market-leading provider of cloud-based software solutions for financial institutions, focusing on lending and account services, with 86% recurring revenue and a target to exceed 30% operating margins.
- Old Dominion Freight Line, Inc.Dec 2024Old Dominion Freight Line, Inc. is a leading less-than-truckload carrier in the U.S. with strong competitive advantages, poised to regain market share as the freight industry recovers from a recession.
- Paylocity Holding Corp.Dec 2024Paylocity Holding Corp. (PCTY) is a leading cloud HCM software provider with strong recurring revenue growth and long-term potential driven by strategic acquisitions and AI-enhanced workflows.
- Procore Technologies, Inc.Dec 2024Procore Technologies, Inc. (PCOR) is a leading cloud-based construction management software company experiencing strong growth and improving operating margins in an underpenetrated market.