Kayne Anderson Rudnick Investment Management LLC Sells 29,707 Shares of Fair Isaac Corporation $FICO

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Fair Isaac Corporation by 11.3%, now owning 232,691 shares valued at approximately $429.12 million.
• A number of analysts have adjusted their price targets for Fair Isaac, with Wells Fargo lowering its target from $2,600 to $2,300 while maintaining an "overweight" rating.
• Fair Isaac announced a $1 billion share repurchase program, indicating the company's leadership believes its stock is undervalued.

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Fair Isaac Corporation (NYSE:FICO - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 232,691 shares of the technology company's stock after selling 29,707 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.96% of Fair Isaac worth $429,120,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its position 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 valued at $958,000 after purchasing an additional 302 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Fair Isaac during the fourth quarter valued at approximately $1,690,000. Boothbay Fund Management LLC boosted its position in shares of Fair Isaac by 298.2% during the fourth quarter. Boothbay Fund Management LLC now owns 434 shares of the technology company's stock valued at $864,000 after purchasing an additional 325 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Fair Isaac by 271.4% during the fourth quarter. Johnson Financial Group Inc. now owns 52 shares of the technology company's stock valued at $97,000 after purchasing an additional 38 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Fair Isaac during the fourth quarter valued at approximately $11,601,000. 85.75% of the stock is currently owned by institutional investors.

Fair Isaac Stock Performance

Shares of FICO stock traded up $2.43 during mid-day trading on Wednesday, hitting $1,422.56. The company's stock had a trading volume of 306,251 shares, compared to its average volume of 380,809. Fair Isaac Corporation has a 52-week low of $1,300.00 and a 52-week high of $2,402.51. The business has a 50-day moving average price of $1,552.57 and a 200 day moving average price of $1,749.17. The stock has a market cap of $34.14 billion, a price-to-earnings ratio of 55.63, a PEG ratio of 2.77 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $8.57 earnings per share for the quarter, topping the consensus estimate of $7.75 by $0.82. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%.The firm had revenue of $536.42 million during the quarter, compared to analysts' expectations of $520.40 million. During the same quarter in the previous year, the business earned $6.25 earnings per share. The company's revenue was up 19.8% on a year-over-year basis. Fair Isaac has set its FY 2025 guidance at 29.150-29.150 EPS. Equities research analysts predict that Fair Isaac Corporation will post 24.15 EPS for the current fiscal year.

Fair Isaac announced that its Board of Directors has approved a stock buyback program on Thursday, June 19th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Fair Isaac

In related news, CEO William J. Lansing sold 3,811 shares of Fair Isaac stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $1,565.99, for a total value of $5,967,987.89. Following the completion of the sale, the chief executive officer owned 44,338 shares of the company's stock, valued at $69,432,864.62. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven P. Weber sold 1,000 shares of Fair Isaac stock in a transaction on Monday, June 9th. The stock was 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 of the company's stock, valued at $3,236,621.50. The trade was a 34.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,021 shares of company stock valued at $22,247,892 in the last ninety days. 3.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird upgraded Fair Isaac from a "neutral" rating to an "outperform" rating and dropped their price target for the company from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Baird R W upgraded Fair Isaac from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company dropped their price target on Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. BMO Capital Markets lifted their price target on Fair Isaac from $1,650.00 to $1,800.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Finally, Raymond James Financial lowered their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Fair Isaac presently has an average rating of "Moderate Buy" and an average target price 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.