Nuveen LLC Invests $114.86 Million in Fair Isaac Corporation (NYSE:FICO)

Key Points

• Nuveen LLC acquired 62,285 shares of Fair Isaac Corporation, worth approximately $114.86 million, representing about 0.26% of the company's stock.
• Fair Isaac reported a quarterly earnings per share (EPS) of $8.57, exceeding estimates and showing a revenue increase of 19.8% year-over-year.
• The company's board authorized a stock buyback program of up to $1 billion, indicating confidence in the stock's valuation.

Nuveen LLC acquired a new position in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,285 shares of the technology company's stock, valued at approximately $114,864,000. Nuveen LLC owned 0.26% of Fair Isaac at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FICO. N.E.W. Advisory Services LLC bought a new stake in Fair Isaac during the first quarter worth about $30,000. Meeder Asset Management Inc. raised its stake in Fair Isaac by 41.7% in the first quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company's stock valued at $31,000 after buying an additional 5 shares during the period. Mechanics Financial Corp bought a new stake in Fair Isaac in the first quarter valued at approximately $46,000. Colonial Trust Co SC raised its stake in Fair Isaac by 71.4% in the fourth quarter. Colonial Trust Co SC now owns 24 shares of the technology company's stock valued at $48,000 after buying an additional 10 shares during the period. Finally, Hollencrest Capital Management raised its stake in Fair Isaac by 766.7% in the first quarter. Hollencrest Capital Management now owns 26 shares of the technology company's stock valued at $48,000 after buying an additional 23 shares during the period. 85.75% of the stock is owned by institutional investors and hedge funds.

Fair Isaac Trading Down 1.3%

Shares of FICO traded down $16.96 during mid-day trading on Thursday, reaching $1,318.33. 461,095 shares of the stock traded hands, compared to its average volume of 340,896. The firm has a fifty day moving average price of $1,623.48 and a 200 day moving average price of $1,778.11. The company has a market cap of $31.64 billion, a price-to-earnings ratio of 51.56, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. Fair Isaac Corporation has a 1 year low of $1,300.00 and a 1 year high of $2,402.51.

Fair Isaac (NYSE:FICO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $8.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.75 by $0.82. Fair Isaac had a net margin of 32.80% and a negative return on equity of 48.88%. The company had revenue of $536.42 million during the quarter, compared to analyst estimates of $520.40 million. During the same period in the previous year, the business earned $6.25 earnings per share. The firm's quarterly revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Fair Isaac Corporation will post 24.15 EPS for the current year.

Fair Isaac announced that its board has approved a share repurchase program on Thursday, June 19th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, CFO Steven P. Weber sold 1,000 shares of the stock in a transaction dated 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 directly owned 1,862 shares of the company's stock, valued at $3,236,621.50. This represents a 34.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William J. Lansing sold 6,010 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $1,767.82, for a total transaction of $10,624,598.20. Following the completion of the transaction, the chief executive officer directly owned 42,138 shares of the company's stock, valued at approximately $74,492,399.16. The trade was a 12.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,021 shares of company stock valued at $22,247,892. Insiders own 3.46% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays dropped their price objective on Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. BMO Capital Markets upgraded Fair Isaac to a "strong-buy" rating in a research note on Thursday, July 10th. Griffin Securities set a $2,000.00 target price on Fair Isaac in a research note on Wednesday, July 9th. Needham & Company LLC lowered their target price on Fair Isaac from $2,575.00 to $1,950.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Raymond James Financial lowered their target price on Fair Isaac from $2,230.00 to $1,800.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $2,163.14.

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.