Fair Isaac Corporation (NYSE:FICO) Stake Raised by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Fair Isaac Corporation by 3.1%, owning 9,756 shares worth approximately $17.99 million.
• Fair Isaac reported earnings per share of $8.57 for the last quarter, surpassing expectations, with revenue up 19.8% year-over-year to $536.42 million.
• The company has authorized a $1 billion stock buyback, indicating confidence in its stock valuation, aiming to repurchase about 2.3% of its outstanding shares.

Public Sector Pension Investment Board grew its holdings in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,756 shares of the technology company's stock after buying an additional 291 shares during the period. Public Sector Pension Investment Board's holdings in Fair Isaac were worth $17,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Fair Isaac by 2.0% during 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. Principal Financial Group Inc. raised its holdings in Fair Isaac by 7.3% during the first quarter. Principal Financial Group Inc. now owns 391,823 shares of the technology company's stock worth $722,585,000 after purchasing an additional 26,811 shares in the last quarter. GAMMA Investing LLC raised its holdings in Fair Isaac by 286,768.9% during the first 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 in the last quarter. Northern Trust Corp raised its holdings in Fair Isaac by 20.1% during the fourth quarter. Northern Trust Corp now owns 254,201 shares of the technology company's stock worth $506,096,000 after purchasing an additional 42,588 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fair Isaac by 6.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 244,262 shares of the technology company's stock worth $486,309,000 after purchasing an additional 15,210 shares in the last quarter. Institutional investors own 85.75% of the company's stock.

Fair Isaac Stock Performance

NYSE FICO opened at $1,309.09 on Tuesday. The stock has a market capitalization of $31.42 billion, a P/E ratio of 51.20, a P/E/G ratio of 2.57 and a beta of 1.28. Fair Isaac Corporation has a 1 year low of $1,305.15 and a 1 year high of $2,402.51. The business's fifty day moving average is $1,649.36 and its two-hundred day moving average is $1,788.07.

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, beating 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 company had revenue of $536.42 million for the quarter, compared to the consensus estimate of $520.40 million. During the same period in the previous year, the business earned $6.25 EPS. The company's revenue was up 19.8% on a year-over-year basis. On average, research analysts forecast that Fair Isaac Corporation will post 24.15 earnings per share for the current year.

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

Insider Buying and Selling at Fair Isaac

In other Fair Isaac news, CFO Steven P. Weber sold 1,000 shares of the business's 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William J. Lansing sold 3,811 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 44,338 shares in the company, valued at approximately $69,432,864.62. This trade 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 have sold 13,021 shares of company stock worth $22,247,892. Company insiders own 3.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on FICO. Needham & Company LLC dropped their target price on Fair Isaac from $2,575.00 to $1,950.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. BMO Capital Markets raised Fair Isaac to a "strong-buy" rating in a report on Thursday, July 10th. Jefferies Financial Group reissued a "buy" rating on shares of Fair Isaac in a report on Thursday, July 17th. Oppenheimer dropped their target price on Fair Isaac from $2,300.00 to $1,953.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Finally, Wells Fargo & Company dropped their target price on Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Wednesday, July 9th. Two investment 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $2,163.14.

Fair Isaac 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.

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