KLP Kapitalforvaltning AS Reduces Stock Position in Fair Isaac Corporation (NYSE:FICO)

KLP Kapitalforvaltning AS trimmed its holdings in Fair Isaac Corporation (NYSE:FICO - Free Report) by 29.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,630 shares of the technology company's stock after selling 4,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Fair Isaac were worth $17,759,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Holdings LLC purchased a new position in shares of Fair Isaac in the fourth quarter worth $26,000. Mechanics Financial Corp purchased a new stake in shares of Fair Isaac in the 1st quarter worth about $46,000. Colonial Trust Co SC boosted its stake in Fair Isaac by 71.4% in the 4th quarter. Colonial Trust Co SC now owns 24 shares of the technology company's stock worth $48,000 after purchasing an additional 10 shares in the last quarter. Hollencrest Capital Management boosted its stake in Fair Isaac by 766.7% in the 1st quarter. Hollencrest Capital Management now owns 26 shares of the technology company's stock worth $48,000 after purchasing an additional 23 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in Fair Isaac by 600.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 28 shares of the technology company's stock worth $56,000 after purchasing an additional 24 shares in the last quarter. 85.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FICO shares. Jefferies Financial Group reiterated a "buy" rating on shares of Fair Isaac in a research note on Thursday, July 17th. Raymond James Financial restated an "outperform" rating on shares of Fair Isaac in a research note on Wednesday, May 21st. Oppenheimer upped their target price on shares of Fair Isaac from $2,293.00 to $2,300.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Robert W. Baird upgraded shares of Fair Isaac from a "neutral" rating to an "outperform" rating and lowered their price objective for the stock from $2,021.00 to $1,900.00 in a research note on Wednesday, May 28th. Finally, Bank of America started coverage on shares of Fair Isaac in a research note on Thursday, April 10th. They issued a "buy" rating and a $2,800.00 price objective on the stock. Two equities 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's stock. According to MarketBeat.com, Fair Isaac currently has an average rating of "Buy" and a consensus price target of $2,218.64.

Insiders Place Their Bets

In related news, CEO William J. Lansing sold 3,811 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $1,565.99, for a total transaction of $5,967,987.89. Following the transaction, the chief executive officer owned 44,338 shares in the company, valued at $69,432,864.62. This trade represents a 7.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief financial officer owned 1,862 shares in the company, valued at $3,236,621.50. This trade represents a 34.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,906 shares of company stock worth $45,222,913 over the last 90 days. Insiders own 3.46% of the company's stock.

Fair Isaac Stock Performance

Shares of FICO traded down $4.41 during trading hours on Friday, hitting $1,531.39. 134,033 shares of the stock were exchanged, compared to its average volume of 367,389. The company has a market cap of $37.27 billion, a price-to-earnings ratio of 65.95, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28. Fair Isaac Corporation has a 12-month low of $1,477.11 and a 12-month high of $2,402.51. The stock's 50-day moving average price is $1,727.13 and its two-hundred day moving average price is $1,827.94.

Fair Isaac (NYSE:FICO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The technology company reported $7.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $498.74 million for the quarter, compared to analyst estimates of $500.45 million. During the same quarter last year, the company earned $6.14 EPS. Fair Isaac's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts expect that Fair Isaac Corporation will post 24.15 earnings per share for the current year.

Fair Isaac declared that its Board of Directors has authorized a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.