New York State Teachers Retirement System decreased its position in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,284 shares of the technology company's stock after selling 1,598 shares during the period. New York State Teachers Retirement System owned about 0.09% of Fair Isaac worth $39,251,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Fair Isaac by 286,768.9% in the 1st quarter. GAMMA Investing LLC now owns 258,182 shares of the technology company's stock valued at $476,129,000 after buying an additional 258,092 shares during the period. Norges Bank purchased a new position in Fair Isaac in the fourth quarter valued at $442,369,000. Wealthfront Advisers LLC boosted its holdings in Fair Isaac by 5,217.6% in the fourth quarter. Wealthfront Advisers LLC now owns 147,031 shares of the technology company's stock valued at $292,728,000 after purchasing an additional 144,266 shares during the period. Proficio Capital Partners LLC acquired a new position in Fair Isaac during the 4th quarter worth $261,610,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Fair Isaac by 376.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 161,628 shares of the technology company's stock worth $321,790,000 after purchasing an additional 127,679 shares during the period. 85.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
FICO has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Fair Isaac from $2,350.00 to $2,250.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. Raymond James Financial restated an "outperform" rating on shares of Fair Isaac in a research note on Wednesday, May 21st. Jefferies Financial Group reaffirmed a "buy" rating and set a $2,500.00 price objective (up from $2,225.00) on shares of Fair Isaac in a research report on Wednesday, May 14th. Robert W. Baird raised Fair Isaac from a "neutral" rating to an "outperform" rating and cut their target price for the stock from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Finally, Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Fair Isaac has a consensus rating of "Moderate Buy" and a consensus price target of $2,304.15.
Check Out Our Latest Stock Report on Fair Isaac
Fair Isaac Stock Down 1.7%
FICO stock traded down $31.04 during trading on Wednesday, hitting $1,812.14. The company had a trading volume of 30,707 shares, compared to its average volume of 194,515. The firm has a 50-day moving average price of $1,883.28 and a 200-day moving average price of $1,880.33. The firm has a market cap of $44.11 billion, a PE ratio of 78.02, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. Fair Isaac Corporation has a 1-year low of $1,484.29 and a 1-year high of $2,402.52.
Fair Isaac (NYSE:FICO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $7.81 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $500.45 million. During the same quarter in the prior year, the business earned $6.14 earnings per share. The company's quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts anticipate that Fair Isaac Corporation will post 24.15 earnings per share for the current year.
Fair Isaac announced that its board has authorized a share repurchase program on Thursday, June 19th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In related news, CEO William J. Lansing sold 6,010 shares of Fair Isaac stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $1,767.82, for a total value of $10,624,598.20. Following the sale, the chief executive officer directly owned 42,138 shares in the company, valued at $74,492,399.16. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marc F. Mcmorris sold 797 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $2,087.50, for a total transaction of $1,663,737.50. Following the sale, the director owned 242 shares in the company, valued at $505,175. The trade was a 76.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,851 shares of company stock worth $40,543,770 over the last quarter. 3.46% of the stock is owned by company insiders.
Fair Isaac Company Profile
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Free Report)
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.
Further Reading
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