Fair Isaac Corporation (NYSE:FICO) Shares Acquired by Solidarity Wealth LLC

Key Points

• Solidarity Wealth LLC has increased its stake in Fair Isaac Corporation by 28.1%, now owning a total of 5,021 shares valued at approximately $9.26 million.
• Fair Isaac Corporation's stock has seen a 0.3% decline, with a current market price of $1,531.39 and a market cap of $37.27 billion.
• The company reported earnings of $7.81 per share, exceeding estimates, and is anticipating a total of 24.15 EPS for the current fiscal year.

Solidarity Wealth LLC boosted its stake in Fair Isaac Corporation (NYSE:FICO - Free Report) by 28.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,021 shares of the technology company's stock after purchasing an additional 1,101 shares during the period. Fair Isaac comprises approximately 2.3% of Solidarity Wealth LLC's portfolio, making the stock its 13th largest position. Solidarity Wealth LLC's holdings in Fair Isaac were worth $9,260,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Fair Isaac by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 663,035 shares of the technology company's stock valued at $1,318,630,000 after buying an additional 17,656 shares in the last quarter. Principal Financial Group Inc. grew its position in Fair Isaac by 7.3% in the 1st quarter. Principal Financial Group Inc. now owns 391,823 shares of the technology company's stock valued at $722,585,000 after acquiring an additional 26,811 shares in the last quarter. GAMMA Investing LLC grew its position in Fair Isaac by 286,768.9% in the 1st quarter. GAMMA Investing LLC now owns 258,182 shares of the technology company's stock valued at $476,129,000 after acquiring an additional 258,092 shares in the last quarter. Northern Trust Corp grew its position in Fair Isaac by 20.1% in the 4th quarter. Northern Trust Corp now owns 254,201 shares of the technology company's stock valued at $506,096,000 after acquiring an additional 42,588 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Fair Isaac by 6.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 244,262 shares of the technology company's stock valued at $486,309,000 after acquiring an additional 15,210 shares in the last quarter. Institutional investors and hedge funds own 85.75% of the company's stock.

Fair Isaac Stock Down 7.8%

FICO traded down $119.58 on Thursday, reaching $1,408.22. The company's stock had a trading volume of 584,143 shares, compared to its average volume of 256,483. The stock has a 50 day moving average of $1,699.45 and a two-hundred day moving average of $1,819.99. Fair Isaac Corporation has a fifty-two week low of $1,354.47 and a fifty-two week high of $2,402.51. The company has a market capitalization of $34.28 billion, a price-to-earnings ratio of 60.63, a P/E/G ratio of 2.43 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $8.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.75 by $0.82. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. The business had revenue of $536.42 million during the quarter, compared to analysts' expectations of $520.40 million. During the same quarter in the prior year, the business posted $6.25 EPS. The company's revenue for the quarter was up 19.8% on a year-over-year basis. As a group, analysts anticipate that Fair Isaac Corporation will post 24.15 earnings per share for the current fiscal year.

Fair Isaac announced that its Board of Directors has approved a stock buyback plan on Thursday, June 19th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Fair Isaac

In other news, CEO William J. Lansing sold 6,010 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $1,767.82, for a total value of $10,624,598.20. Following the completion of the sale, the chief executive officer directly owned 42,138 shares of the company's stock, valued at approximately $74,492,399.16. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marc F. Mcmorris sold 797 shares of the business's stock in a transaction dated Friday, May 9th. The shares were 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 in the company, valued at $505,175. This trade represents a 76.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,906 shares of company stock worth $45,222,913. 3.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FICO. 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 price objective for the company. Baird R W upgraded shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Griffin Securities set a $2,000.00 price target on shares of Fair Isaac in a research note on Wednesday, July 9th. Oppenheimer lowered their target price on Fair Isaac from $2,300.00 to $1,953.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Barclays lowered their target price on Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 9th. Two equities research 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 company. Based on data from MarketBeat.com, Fair Isaac presently has a consensus rating of "Buy" and an average price target of $2,163.14.

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.