Resona Asset Management Co. Ltd. Purchases 584 Shares of Fair Isaac Corporation (NYSE:FICO)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Fair Isaac Corporation by 7.2% in the first quarter, bringing its total holdings to 8,746 shares valued at approximately $16.1 million.
• Fair Isaac recently reported strong earnings, with an EPS of $8.57, surpassing expectations, along with a 19.8% year-over-year revenue growth.
• The company's Board of Directors has authorized a stock repurchase plan of $1 billion, indicating confidence in the stock's value.

Resona Asset Management Co. Ltd. grew its position in Fair Isaac Corporation (NYSE:FICO - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,746 shares of the technology company's stock after buying an additional 584 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Fair Isaac were worth $16,118,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Fair Isaac by 286,768.9% during the 1st quarter. GAMMA Investing LLC now owns 258,182 shares of the technology company's stock worth $476,129,000 after purchasing an additional 258,092 shares during the last quarter. Millennium Management LLC raised its stake in Fair Isaac by 663.1% in the fourth quarter. Millennium Management LLC now owns 108,349 shares of the technology company's stock valued at $215,715,000 after buying an additional 94,150 shares during the last quarter. Nuveen LLC purchased a new stake in Fair Isaac in the first quarter valued at about $114,864,000. Vanguard Group Inc. raised its stake in Fair Isaac by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,962,434 shares of the technology company's stock valued at $5,463,202,000 after buying an additional 58,740 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Fair Isaac by 20.1% in the fourth quarter. Northern Trust Corp now owns 254,201 shares of the technology company's stock valued at $506,096,000 after buying an additional 42,588 shares during the last quarter. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FICO has been the topic of a number of research reports. Raymond James Financial cut their price objective on Fair Isaac from $2,230.00 to $1,800.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. BMO Capital Markets upgraded Fair Isaac to a "strong-buy" rating in a research report on Thursday, July 10th. Baird R W upgraded Fair Isaac from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Needham & Company LLC reduced their price objective 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. Finally, Robert W. Baird raised Fair Isaac from a "neutral" rating to an "outperform" rating and dropped their price objective for the company from $2,021.00 to $1,900.00 in a research note on Wednesday, May 28th. Two equities research 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 company's stock. According to MarketBeat, Fair Isaac presently has a consensus rating of "Buy" and an average price target of $2,163.14.

Fair Isaac Stock Performance

Shares of FICO traded up $23.82 during trading hours on Friday, reaching $1,342.00. 217,775 shares of the company traded hands, compared to its average volume of 349,362. The stock's fifty day moving average is $1,614.82 and its 200 day moving average is $1,773.97. The stock has a market cap of $32.21 billion, a P/E ratio of 52.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28. Fair Isaac Corporation has a 1-year low of $1,300.00 and a 1-year high of $2,402.51.

Fair Isaac (NYSE:FICO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $8.57 earnings per share 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 for the quarter, compared to analysts' expectations of $520.40 million. During the same period in the prior year, the firm earned $6.25 earnings per share. The company's quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts predict that Fair Isaac Corporation will post 24.15 EPS for the current year.

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

Insiders Place Their Bets

In related news, 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 transaction 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 approximately $69,432,864.62. The trade was a 7.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 of the company's stock, valued at $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 90 days, insiders have sold 13,021 shares of company stock worth $22,247,892. 3.46% of the stock is currently owned by company insiders.

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.