Mediolanum International Funds Ltd Purchases 1,510 Shares of Fair Isaac Corporation (NYSE:FICO)

Key Points

• Mediolanum International Funds Ltd increased its stake in Fair Isaac Corporation by 33.3% during the first quarter, now owning over $11 million worth of shares.
• Fair Isaac reported earnings of $7.81 per share, exceeding expectations of $7.33, with a year-over-year revenue growth of 15.0%.
• The company announced a stock buyback plan allowing for the repurchase of up to $1 billion in shares, suggesting management believes its stock is undervalued.

Mediolanum International Funds Ltd increased its position in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 33.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,048 shares of the technology company's stock after buying an additional 1,510 shares during the quarter. Mediolanum International Funds Ltd's holdings in Fair Isaac were worth $11,100,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Fair Isaac by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 663,035 shares of the technology company's stock worth $1,318,630,000 after purchasing an additional 17,656 shares during the period. Principal Financial Group Inc. lifted its stake in Fair Isaac by 7.3% during the first quarter. Principal Financial Group Inc. now owns 391,823 shares of the technology company's stock worth $722,585,000 after purchasing an additional 26,811 shares during the period. GAMMA Investing LLC lifted its stake in Fair Isaac by 286,768.9% during the first quarter. GAMMA Investing LLC now owns 258,182 shares of the technology company's stock worth $476,129,000 after purchasing an additional 258,092 shares during the period. Northern Trust Corp lifted its stake in Fair Isaac by 20.1% during the fourth quarter. Northern Trust Corp now owns 254,201 shares of the technology company's stock worth $506,096,000 after purchasing an additional 42,588 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Fair Isaac by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 244,262 shares of the technology company's stock valued at $486,309,000 after acquiring an additional 15,210 shares during the last quarter. 85.75% of the stock is owned by institutional investors and hedge funds.

Fair Isaac Trading Up 1.4%

Shares of FICO stock traded up $21.46 on Wednesday, hitting $1,526.52. The stock had a trading volume of 70,395 shares, compared to its average volume of 252,850. The firm has a market cap of $37.16 billion, a P/E ratio of 65.72, a PEG ratio of 2.44 and a beta of 1.28. Fair Isaac Corporation has a twelve month low of $1,477.11 and a twelve month high of $2,402.51. The company has a fifty day moving average price of $1,702.96 and a two-hundred day moving average price of $1,821.99.

Fair Isaac (NYSE:FICO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The technology company reported $7.81 earnings per share for the quarter, topping analysts' consensus estimates of $7.33 by $0.48. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. The firm had revenue of $498.74 million during the quarter, compared to analyst estimates of $500.45 million. During the same period in the prior year, the business earned $6.14 EPS. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts expect that Fair Isaac Corporation will post 24.15 earnings per share for the current year.

Fair Isaac announced that its Board of Directors has initiated a share buyback 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 purchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

FICO has been the subject of a number of research analyst reports. Baird R W upgraded shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Griffin Securities set a $2,000.00 price objective on shares of Fair Isaac in a research report on Wednesday, July 9th. Bank of America began coverage on shares of Fair Isaac in a research report on Thursday, April 10th. They issued a "buy" rating and a $2,800.00 price objective for the company. Needham & Company LLC dropped their price objective on shares of Fair Isaac from $2,575.00 to $1,950.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, Oppenheimer boosted their price objective on shares of Fair Isaac from $2,293.00 to $2,300.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $2,218.64.

Insider Buying and Selling at Fair Isaac

In other news, Director Marc F. Mcmorris sold 797 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $2,087.50, for a total transaction of $1,663,737.50. Following the completion of the transaction, the director directly owned 242 shares in the company, valued at $505,175. This represents a 76.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven P. Weber sold 1,000 shares of the stock in a transaction dated 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 owned 1,862 shares of the company's stock, valued at approximately $3,236,621.50. This represents a 34.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,906 shares of company stock valued at $45,222,913. Corporate insiders own 3.46% of the company's stock.

About Fair Isaac

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.