Fair Isaac Corporation (NYSE:FICO) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in Fair Isaac Corporation by 40.4%, owning 12,265 shares worth approximately $22.62 million as of the latest SEC filing.
• Fair Isaac reported earnings of $8.57 per share for the quarter, exceeding analyst estimates and showing a 19.8% revenue increase compared to the previous year.
• Analysts have mixed opinions on Fair Isaac's stock, with price targets ranging from $1,800 to $2,300, and an average target price of $2,163.14.

Federated Hermes Inc. reduced its position in Fair Isaac Corporation (NYSE:FICO - Free Report) by 40.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,265 shares of the technology company's stock after selling 8,330 shares during the quarter. Federated Hermes Inc. owned approximately 0.05% of Fair Isaac worth $22,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in shares of Fair Isaac in the 1st quarter worth about $30,000. Meeder Asset Management Inc. lifted its stake in shares of Fair Isaac by 41.7% in the 1st quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company's stock valued at $31,000 after purchasing an additional 5 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Fair Isaac by 11.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 331 shares of the technology company's stock valued at $610,000 after purchasing an additional 33 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its stake in Fair Isaac by 5.6% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 171 shares of the technology company's stock valued at $315,000 after buying an additional 9 shares during the last quarter. Finally, Solidarity Wealth LLC raised its stake in Fair Isaac by 28.1% during the first quarter. Solidarity Wealth LLC now owns 5,021 shares of the technology company's stock valued at $9,260,000 after buying an additional 1,101 shares during the last quarter. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fair Isaac

In related news, CEO William J. Lansing sold 6,010 shares of Fair Isaac stock in a transaction dated 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 approximately $74,492,399.16. The trade was a 12.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Marc F. Mcmorris sold 797 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $2,087.50, for a total value of $1,663,737.50. Following the transaction, the director owned 242 shares in the company, valued at approximately $505,175. This represents a 76.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,829 shares of company stock worth $36,836,320. Insiders own 3.46% of the company's stock.

Fair Isaac Trading Down 3.7%

Shares of FICO traded down $53.25 during midday trading on Friday, hitting $1,383.47. 798,467 shares of the company's stock traded hands, compared to its average volume of 395,901. Fair Isaac Corporation has a 1 year low of $1,350.00 and a 1 year high of $2,402.51. The firm's fifty day moving average is $1,687.81 and its 200-day moving average is $1,811.36. The stock has a market capitalization of $33.68 billion, a price-to-earnings ratio of 54.11, a price-to-earnings-growth ratio of 2.23 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last issued 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 company 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%. The firm's quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $6.25 EPS. On average, equities research analysts anticipate that Fair Isaac Corporation will post 24.15 EPS for the current year.

Fair Isaac announced that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FICO. Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. BMO Capital Markets upgraded Fair Isaac to a "strong-buy" rating in a research report on Thursday, July 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Fair Isaac in a research report on Thursday, July 17th. Barclays decreased their price objective on Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Finally, Bank of America started coverage on Fair Isaac in a research note on Thursday, April 10th. They set a "buy" rating and a $2,800.00 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $2,163.14.

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.