Fair Isaac Corporation (NYSE:FICO) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in Fair Isaac Corporation (NYSE:FICO - Free Report) by 22.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Fair Isaac by 286,768.9% in the first quarter. GAMMA Investing LLC now owns 258,182 shares of the technology company's stock valued at $476,129,000 after buying an additional 258,092 shares during the last quarter. Norges Bank purchased a new stake in shares of Fair Isaac in the fourth quarter valued at about $442,369,000. Proficio Capital Partners LLC purchased a new position in Fair Isaac during the fourth quarter worth about $261,610,000. Arrowstreet Capital Limited Partnership raised its holdings in Fair Isaac by 376.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 161,628 shares of the technology company's stock worth $321,790,000 after purchasing an additional 127,679 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Fair Isaac by 663.1% during the fourth quarter. Millennium Management LLC now owns 108,349 shares of the technology company's stock worth $215,715,000 after purchasing an additional 94,150 shares in the last quarter. 85.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on FICO shares. Barclays cut their price target on shares of Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating for the company in a report on Wednesday. Jefferies Financial Group reissued a "buy" rating and set a $2,500.00 price target (up from $2,225.00) on shares of Fair Isaac in a report on Wednesday, May 14th. Oppenheimer increased their price target on shares of Fair Isaac from $2,293.00 to $2,300.00 and gave the stock an "outperform" rating in a report on Tuesday. Griffin Securities set a $2,000.00 target price on shares of Fair Isaac in a research report on Wednesday. Finally, BMO Capital Markets upgraded shares of Fair Isaac to a "strong-buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $2,263.29.

Insider Activity

In related news, Director Marc F. Mcmorris sold 797 shares of the firm's stock in a transaction that occurred on 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 sale, the director owned 242 shares in the company, valued at approximately $505,175. This trade represents a 76.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief executive officer owned 44,338 shares in the company, valued at approximately $69,432,864.62. This trade represents a 7.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,906 shares of company stock worth $45,222,913 in the last three months. 3.46% of the stock is owned by insiders.

Fair Isaac Trading Down 2.8%

Shares of FICO stock traded down $43.68 during trading hours on Friday, hitting $1,540.70. The company's stock had a trading volume of 379,480 shares, compared to its average volume of 203,702. The business has a fifty day moving average of $1,845.09 and a 200-day moving average of $1,861.59. The stock has a market cap of $37.50 billion, a price-to-earnings ratio of 66.35, a P/E/G ratio of 2.54 and a beta of 1.28. Fair Isaac Corporation has a twelve month low of $1,484.29 and a twelve month high of $2,402.52.

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

Fair Isaac declared that its Board of Directors has authorized a share buyback plan on Thursday, June 19th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are 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.