Principal Financial Group Inc. Buys 26,811 Shares of Fair Isaac Corporation (NYSE:FICO)

Principal Financial Group Inc. increased its position in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 391,823 shares of the technology company's stock after acquiring an additional 26,811 shares during the period. Principal Financial Group Inc. owned approximately 1.60% of Fair Isaac worth $722,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. grew its stake in Fair Isaac by 160.0% in the 4th quarter. Rakuten Securities Inc. now owns 13 shares of the technology company's stock worth $26,000 after buying an additional 8 shares in the last quarter. Pinnacle Holdings LLC purchased a new position in Fair Isaac in the fourth quarter worth $26,000. Avalon Trust Co bought a new position in Fair Isaac in the fourth quarter valued at $40,000. OFI Invest Asset Management purchased a new stake in Fair Isaac during the fourth quarter valued at about $42,000. Finally, Colonial Trust Co SC lifted its stake in Fair Isaac by 71.4% during the fourth 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. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FICO has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $2,575.00 price objective on shares of Fair Isaac in a research report on Friday, June 20th. Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Oppenheimer boosted their price objective on shares of Fair Isaac from $2,116.00 to $2,293.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Barclays cut their price objective on shares of Fair Isaac from $2,350.00 to $2,250.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. Finally, Robert W. Baird upgraded shares of Fair Isaac from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $2,304.15.

Fair Isaac Trading Up 0.7%

NYSE FICO traded up $12.75 on Friday, hitting $1,855.53. The company's stock had a trading volume of 88,775 shares, compared to its average volume of 194,752. The firm has a market cap of $45.16 billion, a P/E ratio of 79.91, a PEG ratio of 2.95 and a beta of 1.28. Fair Isaac Corporation has a 52-week low of $1,484.29 and a 52-week high of $2,402.52. The company's 50-day simple moving average is $1,879.96 and its 200 day simple moving average is $1,877.88.

Fair Isaac (NYSE:FICO - Get Free Report) last released its quarterly earnings results 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. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. The business had revenue of $498.74 million for the quarter, compared to analysts' expectations of $500.45 million. During the same quarter in the previous year, the business posted $6.14 earnings per share. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Fair Isaac Corporation will post 24.15 EPS for the current fiscal year.

Fair Isaac announced that its Board of Directors has authorized a share buyback program on Thursday, June 19th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Insider Transactions at Fair Isaac

In other news, Director Marc F. Mcmorris sold 797 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $2,087.50, for a total value of $1,663,737.50. Following the completion of the transaction, the director owned 242 shares of the company's stock, valued at approximately $505,175. This represents a 76.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven P. Weber sold 1,000 shares of Fair Isaac stock in a transaction that occurred on 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 sale, the chief financial officer owned 1,862 shares in the company, valued at $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 90 days, insiders sold 20,851 shares of company stock valued at $40,543,770. 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.