Westpac Banking Corp Reduces Holdings in Fair Isaac Corporation $FICO

Key Points

• Westpac Banking Corp significantly reduced its stake in Fair Isaac Corporation, decreasing its holdings by 82.7% and selling 459 shares, leaving them with only 96 shares valued at approximately $177,000.
• Fair Isaac Corporation's stock price rose by 1.8% to $1,342.00, following their quarterly earnings report that surpassed expectations, showing a revenue increase of 19.8% year-over-year.
• The company initiated a $1 billion stock buyback program, indicating the board's belief that the shares are undervalued, and analysts maintain a consensus rating of "Buy" with a price target of $2,163.14.

Westpac Banking Corp lowered its position in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 82.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96 shares of the technology company's stock after selling 459 shares during the period. Westpac Banking Corp's holdings in Fair Isaac were worth $177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nebula Research & Development LLC acquired a new position in Fair Isaac in the fourth quarter valued at $2,540,000. CWA Asset Management Group LLC boosted its stake in Fair Isaac by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 145 shares of the technology company's stock valued at $267,000 after acquiring an additional 19 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Fair Isaac by 4.5% in the first quarter. QRG Capital Management Inc. now owns 395 shares of the technology company's stock valued at $728,000 after acquiring an additional 17 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Fair Isaac by 168.7% during the fourth quarter. Brighton Jones LLC now owns 481 shares of the technology company's stock worth $958,000 after buying an additional 302 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Fair Isaac by 55.6% during the first quarter. GAMMA Investing LLC now owns 140 shares of the technology company's stock worth $258,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 85.75% of the company's stock.

Insiders Place Their Bets

In other Fair Isaac news, CEO William J. Lansing sold 6,010 shares of Fair Isaac stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $1,767.82, for a total value of $10,624,598.20. Following the transaction, the chief executive officer owned 42,138 shares in the company, valued at $74,492,399.16. This trade represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven P. Weber sold 1,000 shares of Fair Isaac stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,738.25, for a total transaction of $1,738,250.00. Following the completion of the transaction, the chief financial officer owned 1,862 shares in the company, 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. In the last quarter, insiders sold 13,021 shares of company stock worth $22,247,892. 3.46% of the stock is owned by company insiders.

Fair Isaac Price Performance

Fair Isaac stock traded up $9.22 during mid-day trading on Monday, reaching $1,352.38. The company had a trading volume of 132,164 shares, compared to its average volume of 266,677. Fair Isaac Corporation has a 1 year low of $1,300.00 and a 1 year high of $2,402.51. The company has a market capitalization of $32.46 billion, a P/E ratio of 52.98, a P/E/G ratio of 2.62 and a beta of 1.28. The stock's 50-day simple moving average is $1,614.82 and its 200-day simple moving average is $1,773.33.

Fair Isaac (NYSE:FICO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $8.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.75 by $0.82. The firm had revenue of $536.42 million for the quarter, compared to analyst estimates of $520.40 million. Fair Isaac had a net margin of 32.80% and a negative return on equity of 48.88%. Fair Isaac's revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.25 earnings per share. On average, equities analysts forecast 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 allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FICO has been the subject of several recent research reports. 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. BMO Capital Markets reiterated an "outperform" rating and set a $1,800.00 target price (up previously from $1,650.00) on shares of Fair Isaac in a research note on Monday. 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. Griffin Securities set a $1,800.00 target price on shares of Fair Isaac in a research note on Monday. Finally, Barclays cut their price target on shares of Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $2,134.57.

Fair Isaac Company Profile

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.