Citigroup Inc. grew its holdings in Fair Isaac Corporation (NYSE:FICO - Free Report) by 116.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,929 shares of the technology company's stock after buying an additional 24,685 shares during the quarter. Citigroup Inc. owned 0.19% of Fair Isaac worth $84,700,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. N.E.W. Advisory Services LLC purchased a new position in shares of Fair Isaac in the first quarter valued at approximately $30,000. Meeder Asset Management Inc. raised its holdings in Fair Isaac by 41.7% in the 1st quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company's stock valued at $31,000 after acquiring an additional 5 shares during the last quarter. Mechanics Financial Corp acquired a new position in shares of Fair Isaac during the 1st quarter worth approximately $46,000. Colonial Trust Co SC boosted its holdings in shares of Fair Isaac by 71.4% during the 4th quarter. Colonial Trust Co SC now owns 24 shares of the technology company's stock worth $48,000 after purchasing an additional 10 shares during the last quarter. Finally, Hollencrest Capital Management increased its holdings in shares of Fair Isaac by 766.7% in the first quarter. Hollencrest Capital Management now owns 26 shares of the technology company's stock valued at $48,000 after purchasing an additional 23 shares during the last quarter. 85.75% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Needham & Company LLC reduced their target price on Fair Isaac from $2,575.00 to $1,950.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Raymond James Financial cut their target price on Fair Isaac from $2,230.00 to $1,800.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company reduced their price target on shares of Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Barclays cut their price objective on Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Fair Isaac in a report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $2,163.14.
View Our Latest Research Report on Fair Isaac
Insider Transactions at Fair Isaac
In related news, CFO Steven P. Weber sold 1,000 shares of Fair Isaac stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,738.25, for a total transaction of $1,738,250.00. Following the completion of the sale, the chief financial officer owned 1,862 shares in the company, valued at approximately $3,236,621.50. This trade represents a 34.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William J. Lansing sold 3,811 shares of Fair Isaac stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $1,565.99, for a total value of $5,967,987.89. Following the completion of the sale, the chief executive officer owned 44,338 shares of the company's stock, valued at $69,432,864.62. This trade represents a 7.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,021 shares of company stock valued at $22,247,892. 3.46% of the stock is currently owned by company insiders.
Fair Isaac Stock Performance
Fair Isaac stock traded up $8.76 during midday trading on Tuesday, reaching $1,320.02. The company's stock had a trading volume of 191,450 shares, compared to its average volume of 360,923. Fair Isaac Corporation has a fifty-two week low of $1,301.01 and a fifty-two week high of $2,402.51. The stock's 50 day simple moving average is $1,640.95 and its 200 day simple moving average is $1,784.82. The firm has a market capitalization of $31.68 billion, a PE ratio of 51.62, a P/E/G ratio of 2.55 and a beta of 1.28.
Fair Isaac (NYSE:FICO - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $8.57 EPS for the quarter, beating analysts' consensus estimates of $7.75 by $0.82. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%. The company had revenue of $536.42 million during the quarter, compared to the consensus estimate of $520.40 million. During the same quarter last year, the company earned $6.25 earnings per share. Fair Isaac's quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts predict that Fair Isaac Corporation will post 24.15 earnings per share for the current year.
Fair Isaac announced that its Board of Directors has initiated a share buyback program on Thursday, June 19th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.
Fair Isaac Company Profile
(
Free Report)
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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