Fair Isaac Corporation (NYSE:FICO) Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC has reduced its stake in Fair Isaac Corporation by 12.8%, now holding 162,387 shares valued at approximately $299.5 million.
• Fair Isaac recently announced a $1 billion share buyback program to purchase up to 2.3% of its shares, indicating the board's belief that the stock is undervalued.
• Despite recent price objective reductions from analysts, Fair Isaac retains a consensus rating of "Buy" with an average price target of $2,163.14.

Neuberger Berman Group LLC lessened its stake in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 162,387 shares of the technology company's stock after selling 23,918 shares during the quarter. Neuberger Berman Group LLC owned about 0.67% of Fair Isaac worth $299,468,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FICO. Brighton Jones LLC grew its holdings 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. Cerity Partners LLC grew its holdings in Fair Isaac by 5.0% during the 4th quarter. Cerity Partners LLC now owns 1,568 shares of the technology company's stock valued at $3,093,000 after buying an additional 75 shares during the last quarter. Scotia Capital Inc. acquired a new stake in Fair Isaac during the 4th quarter valued at $368,000. Sagespring Wealth Partners LLC acquired a new stake in Fair Isaac during the 4th quarter valued at $269,000. Finally, CreativeOne Wealth LLC acquired a new stake in Fair Isaac during the 4th quarter valued at $440,000. Institutional investors and hedge funds own 85.75% of the company's stock.

Fair Isaac Trading Down 1.3%

Fair Isaac stock traded down $16.96 during midday trading on Thursday, hitting $1,318.33. The stock had a trading volume of 461,095 shares, compared to its average volume of 340,896. The stock has a market cap of $31.64 billion, a P/E ratio of 51.56, a P/E/G ratio of 2.60 and a beta of 1.28. Fair Isaac Corporation has a 12 month low of $1,300.00 and a 12 month high of $2,402.51. The business has a fifty day moving average price of $1,623.48 and a 200 day moving average price of $1,778.11.

Fair Isaac (NYSE:FICO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $8.57 earnings per share for the quarter, beating the consensus estimate of $7.75 by $0.82. The firm 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%. Fair Isaac's quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.25 earnings per share. On average, equities analysts anticipate that Fair Isaac Corporation will post 24.15 EPS for the current fiscal year.

Fair Isaac declared that its Board of Directors has approved a share buyback plan on Thursday, June 19th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CFO Steven P. Weber sold 1,000 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 1,862 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, CEO William J. Lansing sold 3,811 shares of the business'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 represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,021 shares of company stock valued at $22,247,892. 3.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FICO shares. BMO Capital Markets upgraded Fair Isaac to a "strong-buy" rating in a report on Thursday, July 10th. Raymond James Financial reduced their target price 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. Wells Fargo & Company cut their price objective 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. Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Finally, Griffin Securities set a $2,000.00 price objective on Fair Isaac in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company 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.