Barclays Cuts Fair Isaac (NYSE:FICO) Price Target to $2,000.00

Fair Isaac (NYSE:FICO - Get Free Report) had its price objective decreased by analysts at Barclays from $2,250.00 to $2,000.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. Barclays's target price would suggest a potential upside of 26.06% from the company's current price.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Wednesday. Raymond James Financial restated an "outperform" rating on shares of Fair Isaac in a report on Wednesday, May 21st. Oppenheimer increased their price target on shares of Fair Isaac from $2,293.00 to $2,300.00 and gave the company an "outperform" rating in a research report on Tuesday. Bank of America started coverage on shares of Fair Isaac in a research report on Thursday, April 10th. They issued a "buy" rating and a $2,800.00 price target on the stock. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $2,500.00 price target (up from $2,225.00) on shares of Fair Isaac in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,283.54.

Fair Isaac Stock Down 0.3%

Fair Isaac stock traded down $5.18 on Wednesday, hitting $1,586.55. The company's stock had a trading volume of 527,990 shares, compared to its average volume of 202,711. The firm has a market cap of $38.62 billion, a P/E ratio of 68.33, a price-to-earnings-growth ratio of 2.73 and a beta of 1.28. The company has a fifty day moving average price of $1,863.71 and a 200-day moving average price of $1,868.89. Fair Isaac has a one year low of $1,484.29 and a one year high of $2,402.52.

Fair Isaac (NYSE:FICO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The technology company reported $7.81 earnings per share for the quarter, topping analysts' consensus estimates of $7.33 by $0.48. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. The business had revenue of $498.74 million during the quarter, compared to the consensus estimate of $500.45 million. During the same period in the previous year, the firm posted $6.14 earnings per share. Fair Isaac's revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts anticipate that Fair Isaac will post 24.15 EPS for the current year.

Fair Isaac announced that its board has initiated a share repurchase program on Thursday, June 19th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 2.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Marc F. Mcmorris sold 797 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $2,087.50, for a total transaction of $1,663,737.50. Following the completion of the transaction, the director directly owned 242 shares of the company's stock, valued at $505,175. This trade represents a 76.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Lansing sold 6,010 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $1,767.82, for a total transaction of $10,624,598.20. Following the transaction, the chief executive officer directly owned 42,138 shares of the company's stock, valued at $74,492,399.16. This represents a 12.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,895 shares of company stock valued at $35,337,869 in the last quarter. 3.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fair Isaac

Several hedge funds and other institutional investors have recently made changes to their positions in FICO. GAMMA Investing LLC grew its stake in shares of Fair Isaac by 286,768.9% in the first quarter. GAMMA Investing LLC now owns 258,182 shares of the technology company's stock valued at $476,129,000 after buying an additional 258,092 shares in the last quarter. Norges Bank acquired a new stake in Fair Isaac during the 4th quarter valued at $442,369,000. Proficio Capital Partners LLC acquired a new stake in Fair Isaac during the 4th quarter valued at $261,610,000. Arrowstreet Capital Limited Partnership lifted its holdings in Fair Isaac by 376.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 161,628 shares of the technology company's stock valued at $321,790,000 after purchasing an additional 127,679 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Fair Isaac by 663.1% during the 4th quarter. Millennium Management LLC now owns 108,349 shares of the technology company's stock valued at $215,715,000 after purchasing an additional 94,150 shares during the last quarter. 85.75% of the stock is owned by institutional investors.

Fair Isaac Company Profile

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.