Allspring Global Investments Holdings LLC Sells 12,176 Shares of Fair Isaac Corporation (NYSE:FICO)

Allspring Global Investments Holdings LLC lessened its stake in Fair Isaac Corporation (NYSE:FICO - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,966 shares of the technology company's stock after selling 12,176 shares during the period. Allspring Global Investments Holdings LLC owned about 0.16% of Fair Isaac worth $72,807,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FICO. Rakuten Securities Inc. lifted its stake in shares of Fair Isaac by 160.0% in the fourth quarter. Rakuten Securities Inc. now owns 13 shares of the technology company's stock valued at $26,000 after buying an additional 8 shares during the period. Pinnacle Holdings LLC acquired a new position in Fair Isaac in the fourth quarter worth about $26,000. Avalon Trust Co acquired a new position in Fair Isaac in the fourth quarter worth about $40,000. OFI Invest Asset Management acquired a new position in Fair Isaac in the fourth quarter worth about $42,000. Finally, Colonial Trust Co SC raised its position in Fair Isaac by 71.4% in the fourth quarter. Colonial Trust Co SC now owns 24 shares of the technology company's stock worth $48,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 85.75% of the company's stock.

Fair Isaac Trading Up 0.1%

NYSE FICO opened at $1,816.89 on Friday. Fair Isaac Corporation has a 1-year low of $1,454.41 and a 1-year high of $2,402.52. The company has a 50 day moving average of $1,883.80 and a 200-day moving average of $1,885.09. The firm has a market cap of $44.22 billion, a price-to-earnings ratio of 78.25, a PEG ratio of 2.98 and a beta of 1.29.

Fair Isaac (NYSE:FICO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $7.81 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $500.45 million. During the same period in the prior year, the firm earned $6.14 earnings per share. Fair Isaac's revenue was up 15.0% compared to the same quarter last year. On average, analysts forecast that Fair Isaac Corporation will post 24.15 earnings per share for the current year.

Fair Isaac announced that its board has approved 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 reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Fair Isaac news, EVP Thomas A. Bowers sold 4,077 shares of Fair Isaac stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $2,057.05, for a total transaction of $8,386,592.85. Following the completion of the sale, the executive vice president now owns 9,974 shares of the company's stock, valued at approximately $20,517,016.70. The trade was a 29.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Lansing sold 2,956 shares of Fair Isaac stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $1,761.13, for a total transaction of $5,205,900.28. Following the sale, the chief executive officer now directly owns 42,138 shares of the company's stock, valued at $74,210,495.94. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,851 shares of company stock valued at $40,543,770 over the last three months. 3.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $2,500.00 price target (up previously from $2,225.00) on shares of Fair Isaac in a research report on Wednesday, May 14th. Bank of America assumed 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 for the company. Robert W. Baird raised shares of Fair Isaac from a "neutral" rating to an "outperform" rating and dropped their price target for the stock from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Baird R W raised shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Fair Isaac in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $2,304.15.

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.

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