Fair Isaac Corporation (NYSE:FICO) is Bowie Capital Management LLC's 6th Largest Position

Key Points

• Bowie Capital Management LLC has increased its stake in Fair Isaac Corporation (NYSE:FICO) by 8.5% during Q1, making it the fund's 6th largest position with approximately 0.26% ownership worth $116 million.
• Fair Isaac's recent quarterly earnings showed an EPS of $8.57, exceeding expectations and representing a 19.8% year-over-year revenue increase to $536.42 million.
• The company has authorized a $1 billion stock buyback program, indicating confidence in its stock valuation, as more than 85% of FICO shares are held by institutional investors.

Bowie Capital Management LLC increased its position in Fair Isaac Corporation (NYSE:FICO - Free Report) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,105 shares of the technology company's stock after acquiring an additional 4,958 shares during the period. Fair Isaac comprises approximately 5.5% of Bowie Capital Management LLC's holdings, making the stock its 6th largest position. Bowie Capital Management LLC owned approximately 0.26% of Fair Isaac worth $116,376,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FICO. Nebula Research & Development LLC purchased a new stake in Fair Isaac during the 4th quarter valued at $2,540,000. CWA Asset Management Group LLC raised its stake in Fair Isaac by 15.1% during the 1st quarter. CWA Asset Management Group LLC now owns 145 shares of the technology company's stock valued at $267,000 after buying an additional 19 shares during the last quarter. QRG Capital Management Inc. raised its stake in Fair Isaac by 4.5% during the 1st quarter. QRG Capital Management Inc. now owns 395 shares of the technology company's stock valued at $728,000 after buying an additional 17 shares during the last quarter. Brighton Jones LLC raised its stake in Fair Isaac by 168.7% during the 4th quarter. Brighton Jones LLC now owns 481 shares of the technology company's stock valued at $958,000 after buying an additional 302 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Fair Isaac by 55.6% during the 1st quarter. GAMMA Investing LLC now owns 140 shares of the technology company's stock valued at $258,000 after buying an additional 50 shares during the last quarter. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

Fair Isaac Stock Up 1.8%

FICO opened at $1,342.00 on Friday. The firm has a 50-day simple moving average of $1,614.82 and a two-hundred day simple moving average of $1,774.58. Fair Isaac Corporation has a 52 week low of $1,300.00 and a 52 week high of $2,402.51. The company has a market capitalization of $32.21 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 2.57 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $8.57 EPS for the quarter, beating 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 business had revenue of $536.42 million during the quarter, compared to the consensus estimate of $520.40 million. During the same quarter in the prior year, the firm earned $6.25 EPS. The business's revenue was up 19.8% on a year-over-year basis. As a group, sell-side analysts expect that Fair Isaac Corporation will post 24.15 earnings per share for the current year.

Fair Isaac announced that its Board of Directors has authorized a stock buyback program on Thursday, June 19th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Fair Isaac news, CEO William J. Lansing sold 3,811 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $1,565.99, for a total transaction of $5,967,987.89. Following the sale, the chief executive officer directly owned 44,338 shares of the company's stock, valued at $69,432,864.62. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,738,250.00. Following the sale, the chief financial officer directly owned 1,862 shares in the company, valued at $3,236,621.50. The trade was a 34.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,021 shares of company stock worth $22,247,892 over the last 90 days. Corporate insiders own 3.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FICO shares. Raymond James Financial decreased their target price on shares of Fair Isaac from $2,230.00 to $1,800.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Baird R W upgraded shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company decreased their target price on shares of Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Wednesday, July 9th. Needham & Company LLC cut their price objective on shares of Fair Isaac from $2,575.00 to $1,950.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, Oppenheimer cut their price objective on shares of Fair Isaac from $2,300.00 to $1,953.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $2,163.14.

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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