Comerica Bank Purchases 1,348 Shares of Fair Isaac Corporation $FICO

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 boosted its stake in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 18.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,636 shares of the technology company's stock after buying an additional 1,348 shares during the quarter. Comerica Bank's holdings in Fair Isaac were worth $15,926,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FICO. GAMMA Investing LLC raised its stake in Fair Isaac by 286,768.9% during the first quarter. GAMMA Investing LLC now owns 258,182 shares of the technology company's stock worth $476,129,000 after buying an additional 258,092 shares during the last quarter. Millennium Management LLC increased 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 worth $215,715,000 after purchasing an additional 94,150 shares in the last quarter. Nuveen LLC purchased a new position in Fair Isaac during the first quarter worth about $114,864,000. Vanguard Group Inc. boosted its holdings in Fair Isaac by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,962,434 shares of the technology company's stock worth $5,463,202,000 after purchasing an additional 58,740 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Fair Isaac by 20.1% during the 4th quarter. Northern Trust Corp now owns 254,201 shares of the technology company's stock worth $506,096,000 after purchasing an additional 42,588 shares during the period. Institutional investors own 85.75% of the company's stock.

Fair Isaac Stock Performance

Shares of NYSE FICO traded up $16.69 during trading hours on Friday, hitting $1,523.06. The company's stock had a trading volume of 650,867 shares, compared to its average volume of 356,199. The business has a 50-day simple moving average of $1,541.73 and a 200-day simple moving average of $1,744.71. Fair Isaac Corporation has a 12 month low of $1,300.00 and a 12 month high of $2,402.51. The stock has a market cap of $36.56 billion, a price-to-earnings ratio of 59.56, a P/E/G ratio of 2.96 and a beta of 1.28.

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, topping the consensus estimate of $7.75 by $0.82. Fair Isaac had a net margin of 32.80% and a negative return on equity of 48.88%. The firm had revenue of $536.42 million during the quarter, compared to analysts' expectations of $520.40 million. During the same period last year, the company posted $6.25 EPS. The company's quarterly revenue was up 19.8% compared to the same quarter last year. Fair Isaac has set its FY 2025 guidance at 29.150-29.150 EPS. On average, equities research analysts forecast that Fair Isaac Corporation will post 24.15 EPS for the current year.

Fair Isaac declared that its board has initiated a share repurchase program on Thursday, June 19th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. BMO Capital Markets raised their price objective on shares of Fair Isaac from $1,650.00 to $1,800.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Barclays lowered their price target on shares of Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 9th. Robert W. Baird raised shares of Fair Isaac from a "neutral" rating to an "outperform" rating and lowered their price target for the stock from $2,021.00 to $1,900.00 in a report on Wednesday, May 28th. Finally, Griffin Securities set a $1,800.00 target price on shares of Fair Isaac in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,134.57.

Insider Activity

In other news, CEO William J. Lansing sold 3,811 shares of the firm's 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 directly owned 44,338 shares of the company's stock, valued at approximately $69,432,864.62. This trade represents a 7.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven P. Weber sold 1,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,738.25, for a total value of $1,738,250.00. Following the completion of the transaction, the chief financial officer owned 1,862 shares of the company's stock, valued at approximately $3,236,621.50. This trade represents a 34.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,021 shares of company stock valued at $22,247,892. Corporate insiders own 3.46% of the company's stock.

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.