M&T Bank Corp Sells 1,182 Shares of Fair Isaac Corporation (NYSE:FICO)

M&T Bank Corp trimmed its stake in Fair Isaac Corporation (NYSE:FICO - Free Report) by 22.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,989 shares of the technology company's stock after selling 1,182 shares during the period. M&T Bank Corp's holdings in Fair Isaac were worth $7,357,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. raised its stake in shares of Fair Isaac by 160.0% in the 4th quarter. Rakuten Securities Inc. now owns 13 shares of the technology company's stock valued at $26,000 after acquiring an additional 8 shares in the last quarter. Pinnacle Holdings LLC acquired a new position in shares of Fair Isaac during the 4th quarter worth about $26,000. Avalon Trust Co acquired a new position in shares of Fair Isaac during the 4th quarter worth about $40,000. Colonial Trust Co SC lifted its position in shares of Fair Isaac by 71.4% during 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 during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Fair Isaac by 600.0% during 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 during the last quarter. 85.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on FICO shares. Barclays cut their price objective on Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating for the company in a research report on Wednesday. BMO Capital Markets started coverage on Fair Isaac in a report on Wednesday. They issued an "outperform" rating for the company. Oppenheimer upped their price target on Fair Isaac from $2,293.00 to $2,300.00 and gave the company an "outperform" rating in a report on Tuesday. Bank of America started coverage on Fair Isaac in a report on Thursday, April 10th. They issued a "buy" rating and a $2,800.00 price target for the company. Finally, Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,307.17.

Fair Isaac Trading Down 6.4%

FICO stock opened at $1,594.60 on Thursday. Fair Isaac Corporation has a 1-year low of $1,484.29 and a 1-year high of $2,402.52. The firm has a market cap of $38.81 billion, a P/E ratio of 68.67, a P/E/G ratio of 2.73 and a beta of 1.28. The business's 50 day moving average is $1,863.71 and its 200-day moving average is $1,868.89.

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

Fair Isaac declared that its Board of Directors has approved 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Thomas A. Bowers sold 4,077 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $2,057.05, for a total transaction of $8,386,592.85. Following the sale, the executive vice president directly owned 9,974 shares in the company, valued at $20,517,016.70. This represents a 29.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Lansing sold 6,010 shares of the 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 value of $10,624,598.20. Following the sale, the chief executive officer owned 42,138 shares in the company, valued at approximately $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. Insiders have sold 17,895 shares of company stock valued at $35,337,869 in the last 90 days. 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.

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