Main Street Research LLC Cuts Stock Holdings in Fair Isaac Corporation (NYSE:FICO)

Main Street Research LLC decreased its holdings in Fair Isaac Corporation (NYSE:FICO - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,913 shares of the technology company's stock after selling 191 shares during the quarter. Main Street Research LLC's holdings in Fair Isaac were worth $5,372,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. grew its holdings in Fair Isaac by 160.0% during the 4th quarter. Rakuten Securities Inc. now owns 13 shares of the technology company's stock worth $26,000 after acquiring an additional 8 shares during the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of Fair Isaac in the fourth quarter valued at approximately $26,000. Avalon Trust Co bought a new position in shares of Fair Isaac in the fourth quarter valued at $40,000. OFI Invest Asset Management bought a new position in shares of Fair Isaac in the fourth quarter valued at $42,000. Finally, Colonial Trust Co SC boosted its position in 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 purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 85.75% of the company's stock.

Fair Isaac Stock Performance

Shares of FICO stock traded down $43.68 during trading hours on Friday, hitting $1,540.70. 379,480 shares of the company were exchanged, compared to its average volume of 203,702. Fair Isaac Corporation has a fifty-two week low of $1,484.29 and a fifty-two week high of $2,402.52. The company has a 50 day simple moving average of $1,845.09 and a two-hundred day simple moving average of $1,861.59. The firm has a market cap of $37.50 billion, a P/E ratio of 66.35, a P/E/G ratio of 2.54 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The technology company reported $7.81 earnings per share for the quarter, beating the consensus estimate of $7.33 by $0.48. Fair Isaac had a negative return on equity of 51.41% and a net margin of 31.36%. The business had revenue of $498.74 million for the quarter, compared to analysts' expectations of $500.45 million. During the same period last year, the business earned $6.14 EPS. The business's revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts expect that Fair Isaac Corporation will post 24.15 EPS for the current fiscal year.

Fair Isaac declared that its board has authorized a share buyback plan on Thursday, June 19th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to buy up to 2.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Robert W. Baird raised shares of Fair Isaac from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Jefferies Financial Group reaffirmed a "buy" rating and set a $2,500.00 price objective (up previously from $2,225.00) on shares of Fair Isaac in a research report on Wednesday, May 14th. BMO Capital Markets raised shares of Fair Isaac to a "strong-buy" rating in a report on Thursday. Griffin Securities set a $2,000.00 price objective on Fair Isaac in a research note on Wednesday. Finally, Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $2,263.29.

Insiders Place Their Bets

In other news, CEO William J. Lansing sold 3,811 shares of Fair Isaac stock in a transaction 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 in the company, valued at $69,432,864.62. The trade was a 7.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven P. Weber sold 1,000 shares of the 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 transaction, the chief financial officer owned 1,862 shares of the company's stock, valued at $3,236,621.50. This 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 23,906 shares of company stock valued at $45,222,913. 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.