OVERSEA CHINESE BANKING Corp Ltd grew its position in Fair Isaac Corporation (NYSE:FICO - Free Report) by 76.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386 shares of the technology company's stock after purchasing an additional 167 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Fair Isaac were worth $712,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of FICO. Signaturefd LLC grew its position in Fair Isaac by 6.4% during the 1st quarter. Signaturefd LLC now owns 586 shares of the technology company's stock worth $1,081,000 after purchasing an additional 35 shares during the last quarter. Edgestream Partners L.P. grew its position in Fair Isaac by 646.3% during the 1st quarter. Edgestream Partners L.P. now owns 6,008 shares of the technology company's stock worth $11,080,000 after purchasing an additional 5,203 shares during the last quarter. CWM LLC grew its position in Fair Isaac by 10.4% during the 1st quarter. CWM LLC now owns 667 shares of the technology company's stock worth $1,230,000 after purchasing an additional 63 shares during the last quarter. Dock Street Asset Management Inc. grew its position in Fair Isaac by 3.9% during the 1st quarter. Dock Street Asset Management Inc. now owns 14,894 shares of the technology company's stock worth $27,467,000 after purchasing an additional 560 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its position in Fair Isaac by 14.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 587 shares of the technology company's stock worth $1,083,000 after purchasing an additional 72 shares during the last quarter. 85.75% of the stock is currently owned by institutional investors and hedge funds.
Fair Isaac Stock Performance
FICO stock traded up $0.11 during trading on Thursday, reaching $1,536.86. 176,231 shares of the company were exchanged, compared to its average volume of 207,825. The company has a market cap of $37.41 billion, a P/E ratio of 66.02, a PEG ratio of 2.42 and a beta of 1.28. Fair Isaac Corporation has a 52-week low of $1,477.12 and a 52-week high of $2,402.52. The stock's 50 day moving average price is $1,811.92 and its 200 day moving average price is $1,850.43.
Fair Isaac (NYSE:FICO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The technology company reported $7.81 EPS for the quarter, topping analysts' consensus estimates of $7.33 by $0.48. The firm had revenue of $498.74 million for the quarter, compared to the consensus estimate of $500.45 million. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. The firm's revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.14 earnings per share. As a group, equities research analysts forecast that Fair Isaac Corporation will post 24.15 EPS for the current year.
Fair Isaac declared that its Board of Directors has initiated a share repurchase program on Thursday, June 19th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on FICO shares. Robert W. Baird raised shares of Fair Isaac from a "neutral" rating to an "outperform" rating and lowered their price objective for the stock from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Barclays lowered their price objective on shares of Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Oppenheimer lifted their target price on shares of Fair Isaac from $2,293.00 to $2,300.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Bank of America began coverage on shares of Fair Isaac in a report on Thursday, April 10th. They issued a "buy" rating and a $2,800.00 target price on the stock. Finally, Baird R W raised shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Fair Isaac currently has a consensus rating of "Buy" and an average price target of $2,218.64.
Read Our Latest Stock Report on Fair Isaac
Insider Activity at Fair Isaac
In related news, CEO William J. Lansing sold 3,811 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were 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 of the company's stock, valued at approximately $69,432,864.62. The trade was a 7.92% 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, Director Marc F. Mcmorris sold 797 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $2,087.50, for a total transaction of $1,663,737.50. Following the sale, the director directly owned 242 shares in the company, valued at approximately $505,175. This represents a 76.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,906 shares of company stock worth $45,222,913 in the last ninety days. Corporate insiders own 3.46% of the company's stock.
About Fair Isaac
(
Free Report)
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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