Fair Isaac Corporation (NYSE:FICO) Shares Acquired by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. increased its stake in Fair Isaac Corporation by 32.6%, acquiring an additional 307 shares during the first quarter, bringing its total holdings to 1,250 shares worth approximately $2.3 million.
• Fair Isaac stock experienced a 1.1% decline, trading at $1,319.28, with a 12-month low of $1,313.69 and a high of $2,402.51, highlighting significant volatility in its stock performance.
• The company announced a $1 billion share buyback program, indicating management's belief that the stock is undervalued in the current market.

iA Global Asset Management Inc. boosted its holdings in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 32.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,250 shares of the technology company's stock after purchasing an additional 307 shares during the quarter. iA Global Asset Management Inc.'s holdings in Fair Isaac were worth $2,305,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FICO. Brighton Jones LLC raised its stake in Fair Isaac by 168.7% during the fourth quarter. Brighton Jones LLC now owns 481 shares of the technology company's stock valued at $958,000 after purchasing an additional 302 shares in the last quarter. World Investment Advisors raised its stake in shares of Fair Isaac by 18.8% in the fourth quarter. World Investment Advisors now owns 177 shares of the technology company's stock valued at $352,000 after acquiring an additional 28 shares during the period. Cerity Partners LLC raised its stake in shares of Fair Isaac by 5.0% in the fourth quarter. Cerity Partners LLC now owns 1,568 shares of the technology company's stock valued at $3,093,000 after acquiring an additional 75 shares during the period. Bank of Montreal Can raised its stake in shares of Fair Isaac by 17.5% in the fourth quarter. Bank of Montreal Can now owns 25,545 shares of the technology company's stock valued at $50,858,000 after acquiring an additional 3,807 shares during the period. Finally, FIL Ltd raised its stake in shares of Fair Isaac by 362.9% in the fourth quarter. FIL Ltd now owns 7,489 shares of the technology company's stock valued at $14,910,000 after acquiring an additional 5,871 shares during the period. Hedge funds and other institutional investors own 85.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Griffin Securities set a $2,000.00 target price on shares of Fair Isaac in a research note on Wednesday, July 9th. Barclays reduced their target price on shares of Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. Baird R W raised shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Robert W. Baird raised shares of Fair Isaac from a "neutral" rating to an "outperform" rating and reduced their price target for the stock from $2,021.00 to $1,900.00 in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company reduced their price target on shares of Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Fair Isaac presently has a consensus rating of "Buy" and an average target price of $2,163.14.

Fair Isaac Stock Down 1.1%

Shares of Fair Isaac stock traded down $14.34 on Friday, reaching $1,319.28. The stock had a trading volume of 308,597 shares, compared to its average volume of 371,043. The company has a 50 day moving average price of $1,658.17 and a 200 day moving average price of $1,792.01. Fair Isaac Corporation has a 1 year low of $1,313.69 and a 1 year high of $2,402.51. The stock has a market capitalization of $31.67 billion, a P/E ratio of 51.59, a P/E/G ratio of 2.57 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last issued its quarterly earnings data 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. Fair Isaac had a net margin of 32.80% and a negative return on equity of 48.88%. The firm had revenue of $536.42 million for the quarter, compared to the consensus estimate of $520.40 million. During the same quarter in the previous year, the firm earned $6.25 EPS. The company's quarterly revenue was up 19.8% compared to the same quarter last year. On average, analysts forecast that Fair Isaac Corporation will post 24.15 earnings per share for the current fiscal year.

Fair Isaac announced that its board has approved a share repurchase program on Thursday, June 19th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Steven P. Weber sold 1,000 shares of Fair Isaac stock in a transaction that occurred on Monday, June 9th. The shares were 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 in the company, valued at $3,236,621.50. This trade represents a 34.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $10,624,598.20. Following the completion of the sale, the chief executive officer owned 42,138 shares of the company's stock, valued at $74,492,399.16. This trade represents a 12.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,032 shares of company stock worth $35,172,583. Insiders own 3.46% of the company's stock.

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.