Here’s Why You Should Keep Your Fair Isaac (FICO) Stake

Baron Funds, an investment management firm, released its “Baron FinTech Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. During the quarter concluding on September 30, 2023, Baron FinTech Fund® (Institutional Shares) experienced a 1.30% increase, contrasting with a 6.77% loss for the FactSet Global FinTech Index (the Benchmark). Since its inception on December 31, 2019, the Fund has achieved an annualized growth of 6.50%, surpassing the Benchmark, which declined by 2.22%. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.

In its Q3 2023 investor letter, Baron FinTech Fund mentioned Fair Isaac Corporation (NYSE:FICO) and explained its insights for the company. Fair Isaac Corporation (NYSE:FICO) is a San Jose, California-based data analytics company with a $24.6 billion market capitalization. Fair Isaac Corporation (NYSE:FICO) delivered a 66.51% return since the beginning of the year, while its 12-month returns are up by 68.11%. The stock closed at $996.70 per share on November 9, 2023.

Here is what Baron FinTech Fund has to say about Fair Isaac Corporation (NYSE:FICO) in its Q3 2023 investor letter:

“Solid stock selection in Information Services came from data and analytics company Fair Isaac Corporation. Fair Isaac reported impressive quarterly earnings results and raised its full-year guidance for 2023. CEO Will Lansing is confident that the company can hold up relatively well amid an unpredictable macro backdrop and expressed optimism about momentum in the software business.”

A close-up of a laptop screen displaying a data driven workflow for onboarding new employees.

Our calculations show that Fair Isaac Corporation (NYSE:FICO) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. Fair Isaac Corporation (NYSE:FICO) was in 46hedge fund portfolios at the end of the second quarter of 2023, compared to 37 funds in the previous quarter. Fair Isaac Corporation (NYSE:FICO) delivered a 13.82% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.

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Disclosure: None. This article is originally published at Insider Monkey.