TimesSquare Capital Management LLC has increased its stake in Fair Isaac Corporation (NYSE: FICO) by 10.9% during the second quarter of 2023, as detailed in a recent filing with the Securities and Exchange Commission (SEC). The investment firm now holds a total of 23,464 shares in the technology company, which are valued at approximately $42.89 million.
The fund’s acquisition included an additional 2,300 shares during the reporting period. Other institutional investors have also adjusted their positions in Fair Isaac. For example, Brighton Jones LLC raised its stake by an impressive 168.7% in the fourth quarter, bringing its total to 481 shares valued at $958,000. Similarly, Andra AP fonden increased its holdings by 51.1% in the second quarter, now owning 21,000 shares worth $38.39 million after purchasing an additional 7,100 shares.
Brookstone Capital Management and Firetrail Investments PTY Ltd. both acquired new positions in Fair Isaac during the second quarter, with investments of approximately $364,000 and $5.79 million, respectively. Furthermore, AlphaQuest LLC dramatically boosted its holdings by 512.0%, obtaining 306 shares valued at $559,000.
Notably, institutional investors now own 85.75% of Fair Isaac’s stock, reflecting a significant commitment to the company.
Fair Isaac’s Market Performance and Analyst Ratings
As of Wednesday, Fair Isaac’s stock opened at $1,797.00. The company boasts a market capitalization of $42.61 billion, along with a price-to-earnings ratio of 70.28 and a beta of 1.34. The stock has seen a 50-day simple moving average of $1,618.00 and a 200-day average of $1,664.49. Over the past year, Fair Isaac’s stock has fluctuated between a low of $1,300.00 and a high of $2,402.51.
Equities research analysts have recently provided positive outlooks for Fair Isaac. Wells Fargo & Company has raised its target price for the stock from $2,300.00 to $2,400.00, assigning an “overweight” rating in a report dated October 14, 2023. Additionally, Zacks Research upgraded Fair Isaac from a “hold” rating to a “strong-buy” rating on October 7, 2023.
Barclays has also increased its price objective from $2,000.00 to $2,400.00, while Needham & Company LLC continues to endorse a “buy” rating with a target price of $1,950.00. BMO Capital Markets, however, lowered its price target from $2,300.00 to $2,200.00, while maintaining an “outperform” rating.
Currently, three analysts rate the stock as a strong buy, ten as a buy, and four as hold, leading to an average rating of “Moderate Buy” with a consensus target price of $2,118.50.
Insider Transactions and Company Profile
Recent insider activity has also been notable. CEO William J. Lansing sold 6,011 shares on September 9, 2023, at an average price of $1,537.50, totaling approximately $9.24 million. Following this transaction, Lansing retains 42,138 shares, valued at around $64.79 million, marking a 12.48% decrease in ownership. Over the last ninety days, insiders have sold 18,032 shares valued at $28.09 million, with insiders currently holding 3.46% of the stock.
Fair Isaac Corporation specializes in analytic, software, and digital decisioning technologies and services that empower businesses to automate and enhance decision-making across various sectors globally. The company operates in two primary segments: Scores and Software, delivering tailored analytic and decision management solutions to meet diverse business needs.
Investors keen on tracking Fair Isaac’s performance can access the latest updates and transactions through various financial news platforms.
