Koa Wealth Management LLC Purchases New Shares in Fair Isaac Corporation (NYSE:FICO)

Key Points

• Koa Wealth Management LLC acquired 1,025 shares of Fair Isaac Corporation for approximately $1,890,000, making it the fund's 22nd largest holding.
• Fair Isaac reported a profit of $8.57 per share last quarter, exceeding analysts' expectations and marking a 19.8% year-over-year revenue increase.
• The company's board authorized a $1.00 billion share buyback program, signaling confidence in the stock's valuation.

Koa Wealth Management LLC acquired a new stake in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,025 shares of the technology company's stock, valued at approximately $1,890,000. Fair Isaac comprises 1.5% of Koa Wealth Management LLC's holdings, making the stock its 22nd biggest holding.

A number of other large investors have also added to or reduced their stakes in FICO. Brighton Jones LLC raised its stake in shares of Fair Isaac by 168.7% in the fourth quarter. Brighton Jones LLC now owns 481 shares of the technology company's stock worth $958,000 after purchasing an additional 302 shares during the last quarter. Cerity Partners LLC grew its holdings 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 worth $3,093,000 after acquiring an additional 75 shares during the period. FIL Ltd grew its holdings 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 worth $14,910,000 after acquiring an additional 5,871 shares during the period. DRW Securities LLC grew its holdings in shares of Fair Isaac by 20.9% in the fourth quarter. DRW Securities LLC now owns 133 shares of the technology company's stock worth $265,000 after acquiring an additional 23 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Fair Isaac by 1.7% in the fourth quarter. Bessemer Group Inc. now owns 3,631 shares of the technology company's stock worth $7,230,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 85.75% of the company's stock.

Fair Isaac Stock Performance

Shares of NYSE FICO opened at $1,319.28 on Friday. The business's 50 day moving average price is $1,658.17 and its 200-day moving average price is $1,792.59. Fair Isaac Corporation has a fifty-two week low of $1,313.69 and a fifty-two week high of $2,402.51. The company has a market cap of $31.66 billion, a price-to-earnings ratio of 51.59, a PEG ratio of 2.60 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last issued 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. The firm had revenue of $536.42 million for the quarter, compared to the consensus estimate of $520.40 million. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%. The company's revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the business posted $6.25 earnings per share. Sell-side analysts predict that Fair Isaac Corporation will post 24.15 earnings per share for the current year.

Fair Isaac announced that its board has authorized a share buyback program on Thursday, June 19th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on FICO shares. Griffin Securities set a $2,000.00 price objective on Fair Isaac in a report on Wednesday, July 9th. Raymond James Financial dropped 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. BMO Capital Markets raised Fair Isaac to a "strong-buy" rating in a research note on Thursday, July 10th. Wells Fargo & Company dropped their price target on Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Wednesday, July 9th. Finally, Needham & Company LLC dropped their price target on Fair Isaac from $2,575.00 to $1,950.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Two equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $2,163.14.

Insider Buying and Selling at Fair Isaac

In other Fair Isaac news, CFO Steven P. Weber sold 1,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,738.25, for a total transaction of $1,738,250.00. Following the transaction, 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 SEC, which is available through the SEC website. Also, CEO William J. Lansing sold 6,010 shares of the stock in a transaction on Tuesday, June 10th. The shares were 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 $74,492,399.16. This trade represents a 12.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,032 shares of company stock worth $35,172,583 over the last 90 days. 3.46% of the stock is currently owned by company insiders.

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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