Transcend Capital Advisors LLC has acquired a new position in Fair Isaac Corporation (NYSE:FICO), as detailed in its recent filing with the Securities and Exchange Commission. During the second quarter, the institutional investor purchased 287 shares of the technology company, with an estimated value of approximately $525,000. This acquisition reflects a growing interest among institutional investors in Fair Isaac, which specializes in analytic and decisioning technologies.
Several other institutional investors have also adjusted their holdings in Fair Isaac. For instance, Vanguard Group Inc. increased its stake by 2.0% during the first quarter, now owning 2,962,434 shares valued at around $5.46 billion after acquiring an additional 58,740 shares. Price T Rowe Associates Inc. MD has similarly raised its position by 0.4%, bringing its total ownership to 823,574 shares worth approximately $1.52 billion.
Principal Financial Group Inc. expanded its holdings by 7.3%, now owning 391,823 shares valued at about $722.6 million, while American Century Companies Inc. increased its stake by 4.7%, owning 386,618 shares worth around $713 million. Additionally, UBS Asset Management’s distinct business unit raised its position by 29.7%, now holding 316,780 shares valued at roughly $584.2 million. Overall, institutional investors own approximately 85.75% of Fair Isaac’s stock.
Stock Performance and Analyst Ratings
As of Wednesday, Fair Isaac shares opened at $1,669.41. The company has maintained a market capitalization of about $40.07 billion, with a price-to-earnings ratio of 65.29 and a price-to-earnings-growth ratio of 1.75. The firm has seen a 52-week low of $1,300.00 compared to a high of $2,402.51. Analysts from various firms have recently provided updated price targets.
Raymond James Financial lowered its price objective for Fair Isaac from $2,230.00 to $1,800.00 but maintained an “outperform” rating. Barclays, on the other hand, raised its target from $2,000.00 to $2,400.00 with an “overweight” rating. Needham & Company LLC reaffirmed a “buy” rating with a target of $1,950.00. Wells Fargo also increased its price target from $2,300.00 to $2,400.00, maintaining an “overweight” rating. According to MarketBeat, the consensus target price for Fair Isaac is $2,137.43, with three analysts rating it as a Strong Buy, ten as Buy, and four as Hold.
Insider Activity and Company Overview
In related news, CEO William J. Lansing recently sold 4,942 shares on October 14, 2023, at an average price of $1,631.34, totaling approximately $8.06 million. Following this transaction, Lansing retains 43,207 shares valued at around $70.5 million, marking a decrease of 10.26% in his ownership. Over the past ninety days, insiders have sold 18,032 shares worth about $28.09 million, with corporate insiders holding approximately 3.46% of the stock.
Fair Isaac Corporation develops analytic software and digital decisioning technologies that empower businesses to automate and enhance decision-making processes across various sectors worldwide, including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments: Scores and Software, providing tailored solutions for account origination, customer management, fraud detection, and marketing, among other professional services.
