Fair Isaac Corporation $FICO Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in Fair Isaac Corporation by 18.5% in the first quarter, owning a total of 8,636 shares valued at approximately $15.9 million.
• Fair Isaac reported a quarterly earnings per share of $8.57, surpassing estimates and showing a 19.8% year-over-year revenue increase.
• The company has initiated a $1 billion share repurchase program, indicating management's belief that the stock is undervalued.

Comerica Bank grew its stake in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 18.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,636 shares of the technology company's stock after purchasing an additional 1,348 shares during the quarter. Comerica Bank's holdings in Fair Isaac were worth $15,926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geo Capital Gestora de Recursos Ltd acquired a new position in shares of Fair Isaac during the first quarter worth about $28,000. N.E.W. Advisory Services LLC acquired a new position in shares of Fair Isaac during the first quarter worth about $30,000. Meeder Asset Management Inc. increased its position in shares of Fair Isaac by 41.7% during the first quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company's stock worth $31,000 after acquiring an additional 5 shares during the last quarter. Mechanics Financial Corp purchased a new stake in shares of Fair Isaac during the first quarter worth about $46,000. Finally, Colonial Trust Co SC increased its position in shares of Fair Isaac by 71.4% during the fourth quarter. Colonial Trust Co SC now owns 24 shares of the technology company's stock worth $48,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 85.75% of the company's stock.

Fair Isaac Stock Up 1.1%

Shares of NYSE:FICO traded up $16.69 during trading on Friday, hitting $1,523.06. 650,867 shares of the company traded hands, compared to its average volume of 272,944. The stock has a market capitalization of $36.55 billion, a price-to-earnings ratio of 59.56, a PEG ratio of 2.76 and a beta of 1.28. The business's fifty day moving average is $1,547.43 and its 200-day moving average is $1,746.75. Fair Isaac Corporation has a one year low of $1,300.00 and a one year high of $2,402.51.

Fair Isaac (NYSE:FICO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $8.57 EPS for the quarter, beating the consensus estimate of $7.75 by $0.82. The company had revenue of $536.42 million during the quarter, compared to analyst estimates of $520.40 million. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%.The business's revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.25 earnings per share. Fair Isaac has set its FY 2025 guidance at 29.150-29.150 EPS. On average, analysts forecast that Fair Isaac Corporation will post 24.15 EPS for the current year.

Fair Isaac declared that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

FICO has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Fair Isaac in a research report on Thursday, July 17th. Wells Fargo & Company dropped their target price on 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. Griffin Securities set a $1,800.00 target price on Fair Isaac in a research report on Monday, August 18th. Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Finally, Oppenheimer lowered their price objective on Fair Isaac from $2,300.00 to $1,953.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,134.57.

Insider Activity at Fair Isaac

In other news, CFO Steven P. Weber sold 1,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 1,862 shares in the company, valued at approximately $3,236,621.50. The trade was a 34.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William J. Lansing sold 6,010 shares of the business'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 value of $10,624,598.20. Following the transaction, the chief executive officer owned 42,138 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders have sold 13,021 shares of company stock valued at $22,247,892. Insiders own 3.46% of the company's stock.

Fair Isaac 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.