QRG Capital Management Inc. Grows Position in Fair Isaac Co. (NYSE:FICO)

QRG Capital Management Inc. increased its position in shares of Fair Isaac Co. (NYSE:FICO) by 13.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 327 shares of the technology company’s stock after buying an additional 40 shares during the quarter. QRG Capital Management Inc.’s holdings in Fair Isaac were worth $636,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Fair Isaac during the 1st quarter worth approximately $25,000. Advisors Asset Management Inc. acquired a new stake in Fair Isaac during the 1st quarter worth approximately $26,000. Tortoise Investment Management LLC lifted its position in Fair Isaac by 81.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock worth $30,000 after acquiring an additional 9 shares during the period. Family Firm Inc. acquired a new stake in Fair Isaac during the 2nd quarter worth approximately $34,000. Finally, Covestor Ltd lifted its position in Fair Isaac by 140.0% during the 1st quarter. Covestor Ltd now owns 36 shares of the technology company’s stock worth $46,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 85.75% of the company’s stock.

Wall Street Analyst Weigh In

FICO has been the subject of a number of recent research reports. Needham & Company LLC increased their price objective on Fair Isaac from $1,850.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their price objective on Fair Isaac from $2,150.00 to $2,350.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $2,040.00 price objective on shares of Fair Isaac in a research report on Thursday. Wells Fargo & Company increased their price objective on Fair Isaac from $2,200.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on Fair Isaac from $2,130.00 to $2,374.00 and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fair Isaac has a consensus rating of “Moderate Buy” and an average price target of $1,964.92.

Fair Isaac Price Performance

NYSE FICO opened at $2,332.29 on Friday. Fair Isaac Co. has a 1-year low of $900.01 and a 1-year high of $2,351.98. The company has a market capitalization of $56.79 billion, a P/E ratio of 114.05, a PEG ratio of 3.87 and a beta of 1.35. The business has a 50 day moving average price of $1,947.74 and a 200 day moving average price of $1,644.51.

Fair Isaac (NYSE:FICO) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $5.34 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.10). Fair Isaac had a net margin of 29.86% and a negative return on equity of 63.35%. The firm had revenue of $453.81 million during the quarter, compared to analysts’ expectations of $454.78 million. On average, research analysts expect that Fair Isaac Co. will post 24.74 earnings per share for the current fiscal year.

Fair Isaac declared that its board has authorized a stock repurchase program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Fair Isaac

In related news, EVP Thomas A. Bowers sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $1,715.27, for a total value of $5,145,810.00. Following the completion of the transaction, the executive vice president now directly owns 5,769 shares of the company’s stock, valued at $9,895,392.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Fair Isaac news, Director Joanna Rees sold 3,961 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $1,750.00, for a total transaction of $6,931,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas A. Bowers sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $1,715.27, for a total value of $5,145,810.00. Following the transaction, the executive vice president now directly owns 5,769 shares of the company’s stock, valued at $9,895,392.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by company insiders.

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.