Raymond James & Associates Grows Position in Fair Isaac Co. (NYSE:FICO)

Raymond James & Associates increased its position in shares of Fair Isaac Co. (NYSE:FICO) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,814 shares of the technology company’s stock after purchasing an additional 698 shares during the period. Raymond James & Associates owned 0.17% of Fair Isaac worth $83,210,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FICO. Vanguard Group Inc. raised its stake in shares of Fair Isaac by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,855,775 shares of the technology company’s stock valued at $3,568,605,000 after acquiring an additional 35,263 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Fair Isaac by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 861,283 shares of the technology company’s stock valued at $1,076,268,000 after purchasing an additional 174,397 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Fair Isaac by 3.9% during the 2nd quarter. Principal Financial Group Inc. now owns 370,605 shares of the technology company’s stock valued at $551,706,000 after acquiring an additional 13,966 shares in the last quarter. American Century Companies Inc. increased its position in Fair Isaac by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 345,628 shares of the technology company’s stock worth $514,523,000 after purchasing an additional 21,768 shares in the last quarter. Finally, Capital International Investors raised its holdings in Fair Isaac by 4.5% in the 1st quarter. Capital International Investors now owns 181,406 shares of the technology company’s stock valued at $226,687,000 after acquiring an additional 7,884 shares during the last quarter. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fair Isaac

In other news, CFO Steven P. Weber sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $1,735.00, for a total value of $3,123,000.00. Following the transaction, the chief financial officer now owns 575 shares in the company, valued at $997,625. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Steven P. Weber sold 1,800 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $1,735.00, for a total transaction of $3,123,000.00. Following the sale, the chief financial officer now directly owns 575 shares in the company, valued at $997,625. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Kirsner sold 3,000 shares of Fair Isaac stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,697.06, for a total value of $5,091,180.00. Following the sale, the director now owns 13,002 shares of the company’s stock, valued at approximately $22,065,174.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,261 shares of company stock valued at $26,291,370 over the last ninety days. 3.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FICO. Robert W. Baird upped their target price on Fair Isaac from $1,264.00 to $1,700.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Needham & Company LLC lifted their price objective on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on shares of Fair Isaac from $1,879.00 to $2,130.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Fair Isaac from $2,100.00 to $2,200.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada raised their price target on Fair Isaac from $1,350.00 to $1,500.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,787.08.

Fair Isaac Stock Performance

FICO stock opened at $1,973.46 on Monday. Fair Isaac Co. has a 52-week low of $811.99 and a 52-week high of $2,103.70. The company has a market capitalization of $48.77 billion, a P/E ratio of 103.59, a PEG ratio of 3.78 and a beta of 1.35. The company has a fifty day moving average price of $1,857.71 and a 200-day moving average price of $1,554.84.

Fair Isaac (NYSE:FICO) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $4.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.34). The business had revenue of $447.85 million during the quarter, compared to analyst estimates of $448.53 million. Fair Isaac had a net margin of 28.94% and a negative return on equity of 60.67%. As a group, sell-side analysts forecast that Fair Isaac Co. will post 19.33 earnings per share for the current fiscal year.

Fair Isaac announced that its board has authorized a stock repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

About Fair Isaac

Fair Isaac Corporation develops analytic, software, and digital decisioning technologies and services that enable businesses to automate, enhance, and connect decisions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Scores and Software. The Software segment provides pre-configured analytic and decision management solution designed for various business needs or processes, such as account origination, customer management, customer engagement, fraud detection, financial crimes compliance, and marketing, as well as associated professional services.